Inheritance

[Honest_Man#1]

To be honest I have no idea. I don’t know exactly what level they have bought into etc. All I know is they pay an annual fee to Diamond Resorts and they can pass it down. There surely must be a way of rejecting it if they attempt to pass it down to us.

[TxRover]

3 hours ago, Honest_Man#1 said:

I have a slight worry about this. My wife’s parents have a Diamond Resorts membership type thing that I know they bought into and pay annual fees for. They have mentioned on several occasions that it would be passed on to us (not their other children) despite us trying to make it very clear we don’t want it as we would never use it. Can see us getting lumped with it and having to pay some exorbitant fee to get rid of it, not really sure how it works tbh.

45 minutes ago, Soapy FFC said:

Might be worth paying for some legal advice now to prevent massive costs in the future.

Some of the best advice you’ll ever get on P&B.

27 minutes ago, Honest_Man#1 said:

To be honest I have no idea. I don’t know exactly what level they have bought into etc. All I know is they pay an annual fee to Diamond Resorts and they can pass it down. There surely must be a way of rejecting it if they attempt to pass it down to us.

Arson. The plus is, if you play it right, the rest of the building might pay you to do it.

[Honest_Man#1]

10 minutes ago, TxRover said:

Some of the best advice you’ll ever get on P&B.

Arson. The plus is, if you play it right, the rest of the building might pay you to do it.

Maybe not been clear, apologies. Diamond Resorts (what they have bought into at least) isn’t a specific property. They’ve bought into a scheme where you pay annually and get points that you can use at any of the DR properties.

[TxRover]

5 minutes ago, Honest_Man#1 said:

Maybe not been clear, apologies. Diamond Resorts (what they have bought into at least) isn’t a specific property. They’ve bought into a scheme where you pay annually and get points that you can use at any of the DR properties.

Just burn them all down. it’s likely more than 50% of the owner would reward you,

On a more serious note, in the UK your concern is very real, do consult that lawyer. Even if you got off the hook for being named, a perpetual contract could simply drain the estate.

[strichener]

3 minutes ago, TxRover said:

Just burn them all down. it’s likely more than 50% of the owner would reward you,

On a more serious note, in the UK your concern is very real, do consult that lawyer. Even if you got off the hook for being named, a perpetual contract could simply drain the estate.

In the UK you can't be forced into a contract.  If someone dies, you can't be forced to take on their obligations.  The only enforcement would be through a claim on the estate.

[Sergeant Wilson]

11 minutes ago, Honest_Man#1 said:

Maybe not been clear, apologies. Diamond Resorts (what they have bought into at least) isn’t a specific property. They’ve bought into a scheme where you pay annually and get points that you can use at any of the DR properties.

I know they aren't cheap to book a normal holiday. Any I've been to are good though.

[Salt n Vinegar]

8 minutes ago, strichener said:

In the UK you can't be forced into a contract.  If someone dies, you can't be forced to take on their obligations.  The only enforcement would be through a claim on the estate.

Aye but how could an annual payment for X future years be a claim on the estate? How long is the "agreement" for? Would it be a lump sum (£/year x number of years)?

Could be quite a wad.

[strichener]

2 minutes ago, Salt n Vinegar said:

Aye but how could an annual payment for X future years be a claim on the estate? How long is the "agreement" for? Would it be a lump sum (£/year x number of years)?

Could be quite a wad.

Diamond Resorts is a club.  It makes clear that there is no obligation for anyone to continue membership upon the death of the member(s).

As this is prepaid points, there should be no outstanding charges ( unless the member hasn't paid) to be paid from the estate.  The estate can also choose to sell the points and any income from this would be added to the estate for distribution.

In wouldn't worry about Diamond, some of the timeshare companies are a different matter.

[Salt n Vinegar]

It must be possible to get out of these contracts ... I'm sure I've heard radio adverts if companies offering that service.

Maybe the parents could leave the points to the Diamond CEO in their will?

[Honest_Man#1]

51 minutes ago, strichener said:

Diamond Resorts is a club.  It makes clear that there is no obligation for anyone to continue membership upon the death of the member(s).

As this is prepaid points, there should be no outstanding charges ( unless the member hasn't paid) to be paid from the estate.  The estate can also choose to sell the points and any income from this would be added to the estate for distribution.

In wouldn't worry about Diamond, some of the timeshare companies are a different matter.

 

This is very pleasing!