What to do with inherited Hilton and Westgate timeshares?
I recently inherited two timeshares, one from the Hilton and the other from Westgate. The Westgate still has to be paid off, which I had to start paying for about $250 a month, and both have annual maintenance fees that are close to $1000 each. My grandfather, the person I received the timeshares from, used them for vacation all the time, but I never thought much about the details of how they work. I’m looking for some advice on what to do with them. I’m wondering if it is more worth it to try to sell them or rent out them out, considering there is only a few thousand left to pay on the Westgate, but the Hilton is paid off. I’m recently out of college, so I don’t have much in savings and I was hoping I could use these, whether by selling or renting, to start to save for the future. Any advice is much appreciated.
Edit: Thanks for all the replies! I just got off work and have read them all, thank you for taking the time out of the day to offer me advice. For more information, the timeshares were in a trust which I was unable to access until recently. Unfortunately, that means the they have been paid for a period over 9 months, I was unaware of their existence until recently. I definitely do not want to continue this financial burden, so I’ll start looking into the resources and suggestions provided. Wish I knew about /PF sooner.