Having recently been tasked with disposing of my father’s timeshare, I wonder if there might be scope for declaring it as a substantial liability. From what I can see so far (peering through the morass of dodgy websites offering “advice”), there is little scope for selling for more than a nominal sum (you can buy second hand timeshares on many resorts for $1/E1) and the annual “management” fees often have escalation provisions far in excess of inflation - even before you take into account the effect of the weak £.
(As you can see, I am not very optimistic about this task).
Andrew Goodman
Osborne Clarke LLP