u/HaiKarate

An elderly family member is cleaning up her estate and wants to give me her timeshare in a resort town. The unit is paid off, I would just owe the annual fees, which right now are $750; she told me I could rent out the week for at least $1200 if I don’t use it.

She had originally bought it from someone else. It’s managed by a subsidiary of Hyatt.

What questions should I be asking before taking this on? Or should I be taking it on at all??

Also, she wants to gift it to me in advance of her death; would I owe taxes on it?

UPDATE: Thanks for all of the comments. I just called my relative and told her that I can’t accept this timeshare.

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