What To Know
- A deed-back program allows timeshare owners to return their property to the resort developer after a specified period.
- HGV’s Exit Program allows owners to return their timeshare units back to the company after a minimum of five years of ownership.
- If you do not participate in the Exit Program, you will continue to own your timeshare unit and be responsible for all associated fees and obligations.
Are you considering investing in a Hilton Grand Vacations (HGV) timeshare and wondering if they offer a deed-back program? This blog post will provide a comprehensive overview of HGV’s deed-back program, answering your questions and guiding you through the intricacies of this unique offering.
What is a Deed-Back Program?
A deed-back program allows timeshare owners to return their property to the resort developer after a specified period. In exchange, the developer typically compensates the owner with a lump sum or credit towards another timeshare unit.
Does Hilton Grand Vacations Have a Deed-Back Program?
Yes, Hilton Grand Vacations does offer a deed-back program known as the “Exit Program.”
How Does HGV’s Exit Program Work?
HGV’s Exit Program allows owners to return their timeshare units back to the company after a minimum of five years of ownership. The specific terms and conditions may vary depending on the resort and unit type.
Eligibility for the Exit Program
To be eligible for the Exit Program, timeshare owners must meet the following criteria:
- Own a Hilton Grand Vacations timeshare unit for at least five years
- Be current on all maintenance fees and other financial obligations
- Not have any outstanding violations or disciplinary actions against them
Benefits of the Exit Program
- Financial compensation: Owners can receive a lump sum or credit towards another timeshare unit.
- Release from ownership obligations: Owners are no longer responsible for maintenance fees and other expenses associated with timeshare ownership.
- Flexibility: Owners have the option to exit their timeshare after a certain period, providing flexibility in their vacation plans.
Drawbacks of the Exit Program
- Limited availability: The Exit Program may not be available for all timeshare units or resorts.
- Fees and penalties: Owners may be subject to fees or penalties for returning their timeshare unit.
- Potential loss of value: The value of the timeshare unit may have declined since the initial purchase.
How to Apply for the Exit Program
Interested owners should contact HGV directly to inquire about the availability of the Exit Program for their specific timeshare unit. The company will provide detailed information on the process and any applicable fees.
Alternatives to the Exit Program
If HGV’s Exit Program is not available or suitable, owners may consider other options such as:
- Selling the timeshare: Owners can list their timeshare for sale on the resale market.
- Renting the timeshare: Owners can rent out their timeshare unit to generate income.
- Exchanging the timeshare: Owners can exchange their timeshare unit for vacation time at other resorts through exchange programs.
Takeaways: Making an Informed Decision
Whether or not to participate in Hilton Grand Vacations’ Exit Program is a personal decision that depends on individual circumstances and financial goals. By carefully considering the benefits and drawbacks, and exploring alternative options, owners can make an informed decision that aligns with their long-term vacation needs.
Basics You Wanted To Know
Q: Is the Exit Program available for all HGV timeshare units?
A: No, the Exit Program may not be available for all units or resorts. Owners should contact HGV directly to inquire about availability.
Q: What is the minimum ownership period required to qualify for the Exit Program?
A: The minimum ownership period is typically five years.
Q: Are there any fees associated with the Exit Program?
A: Yes, owners may be subject to fees for returning their timeshare unit. These fees vary depending on the specific unit and resort.
Q: Can I receive a lump sum payment for my timeshare unit through the Exit Program?
A: Yes, owners may be eligible for a lump sum payment or a credit towards another timeshare unit.
Q: What happens if I decide not to participate in the Exit Program?
A: If you do not participate in the Exit Program, you will continue to own your timeshare unit and be responsible for all associated fees and obligations.
