My timeshare is paid in full, but I just don't want it anymore

megann74 wrote:

I am in the same or similar boat. I own a deeded timeshare with Vacation Village at Parkway in Florida. The mortgage is paid off and only maintenance fees are due every other year at this point. That being said, it is deeded in my name and another party that I have no contact with any longer. How do I go about getting my name off of the deed, or how do I, at least, get out of this? I know Vacation Village does not buy back, I already asked. I have almost perfect credit and have worked hard to get it that way. The other party does not care about their credit and has many judgments against them already. I just want out and to not have my credit trashed at the same time.

Whether or not you are still in contact, you and the "other party" on that deed remain equal co-owners; you each share equal legal and financial responsibility for that timeshare.

If you now have no contact with the other co-owner, I don't see how you could obtain their notarized signature as "grantor" on a new deed (with you as the other "grantor"), making that "other party" the new (and sole) "grantee" (...something which they might very well want nothing to do with anyhow). In truth, at this time, you cannot even give that timeshare away for free on your own, since both you and the other co-owner would have to sign (notarized signatures are required) as "grantors" on any new deed --- to any "grantee".

I am not offering you legal advice, or any input intended in any way to be a substitute for obtaining professional legal advice. I will merely point out that if you simply stop paying the maintenance fees, there will be a foreclosure at some point (likely not for 1-3 years and likely not before some "collection" efforts). However, the good news is that since Florida is a "anti-deficiency" state with a non-judicial foreclosure option, there is literally nothing else that VV can do besides foreclosure --- just AS LONG AS you do not object in any way to the foreclosure process. With no loan default involved, it is highly unlikely (not impossible, but still highly unlikely) that there would ever be any negative credit report consequences for you in the aftermath of that future foreclosure.

Good luck.

Thank you so much, that is actually very helpful information. I appreciate you taking the time and responding.

ken1193 wrote:

megann74 wrote:

I am in the same or similar boat. I own a deeded timeshare with Vacation Village at Parkway in Florida. The mortgage is paid off and only maintenance fees are due every other year at this point. That being said, it is deeded in my name and another party that I have no contact with any longer. How do I go about getting my name off of the deed, or how do I, at least, get out of this? I know Vacation Village does not buy back, I already asked. I have almost perfect credit and have worked hard to get it that way. The other party does not care about their credit and has many judgments against them already. I just want out and to not have my credit trashed at the same time.

Whether or not you are still in contact, you and the "other party" on that deed remain equal co-owners; you each share equal legal and financial responsibility for that timeshare.

If you now have no contact with the other co-owner, I don't see how you could obtain their notarized signature as "grantor" on a new deed (with you as the other "grantor"), making that "other party" the new (and sole) "grantee" (...something which they might very well want nothing to do with anyhow). In truth, at this time, you cannot even give that timeshare away for free on your own, since both you and the other co-owner would have to sign (notarized signatures are required) as "grantors" on any new deed --- to any "grantee".

I am not offering you legal advice, or any input intended in any way to be a substitute for obtaining your own professional legal advice. I will merely point out that if you simply stop paying the maintenance fees, there will be a foreclosure at some point (likely not for 1-3 years and likely not before some "collection" efforts. However, the good news is that since Florida is a "anti-deficiency" state with non-judicial foreclosure proceedings, there is literally nothing else they can do besides foreclosure AS LONG AS you do not object in any way to the foreclosure process. With no loan default involved, it is highly unlikely (not impossible, but still highly unlikely) that there would ever be any negative credit report consequences in the aftermath of the foreclosure.

Good luck.

Timeshares are the most fraudulent thing out there. Something you can't get what you put in to it. People should have really looked to this when it started. My aunt has 2. She was an idiot for getting the 2 one. There is absolutely nothing you can do about the fees that continually go up and you have no say. This was and still is a horrible thievery practice.

angelam985 wrote:

Timeshares are the most fraudulent thing out there. Something you can't get what you put in to it. People should have really looked to this when it started. My aunt has 2. She was an idiot for getting the 2 one. There is absolutely nothing you can do about the fees that continually go up and you have no say. This was and still is a horrible thievery practice.

I wouldn't say timeshares are fraudulent. The methods used by many sales people might be considered fraudulent but timeshares themselves aren't.

As for "there [being] absolutely nothing you can do about the fees that continually go up and you have no say", that's not entirely true. If you are an owner, in some cases, you can vote on the budget when it is sent out to owners. Also, as an owner, in some cases, you can run to be on the Homeowners' Association board and have a say in the budget. As well, fees go up because everything else in life increases in costs. Have you seen the prices of gasoline lately? Are you going to say "Don't buy a car", or "Cars are fraudulent" because of increasing gas prices?

BTW, why do you call your aunt an idiot? She might have made, in your estimation, an idiotic decision. But that does not necessarily make her an idiot. Do you know for sure that she is not enjoying here timeshares? Not all timeshare owners made a bad investment or regret their decision to buy one. There are many happy timeshare owners out there. They just are fewer than those who regret their purchase and are not as vocal about it.

Lance is right about getting involved with the board of managers . All timeshares have board of managers that make decisions related to your timeshare . I used to have three timeshares now I only have one left that I thoroughly enjoy using every year . It is on the Las Vegas strip right next to Bellagio and you can't ask for a better location . I use it every year and never trade . I pay $ 600 a year in maintenance fees because we have the best board of managers and they hired a management company that is the best in the business as far as I'm concerned . Every year I get a proxy in the mail to vote for new board members .

I was just there in November and the place is beautiful , They change the furnishings every few years and it very well maintained . They treat owners like royalty and I intend to go there every year until I can no longer travel . I have discussed it with my heirs to make sure they understand the workings of the timeshare .

It would be to your advantage to look into your timeshares and consider renting it out if you're not using it to defray your expenses . You can also trade for another location if you decide to travel . I own a deeded week . I would never purchase points . That's a racket that corporations came up with to drain your bank account .

Good luck and take the time to inquire about using your timeshare to your advantage .

SP - f you have been an owner for a number of years and your unit is not mortgaged, some reputable Resort companies have unstated policies of allowing you to deed your unit to the Resort company and, in return, you will be released from any further liability for maintenance fee payments. There is usually an admin charge for this process ($250 is what I was charged). The reason that the Resort offers this option is that they have collected money from you when you purchased your unit and over the years through your annual payments. Further, they should be able to rent or resell the unit you transfer back. They also know that most owners will only pay the maintenance fee for so long before they just stop paying and take the chance that the Resort company will not sue them. Although I don't have the data to support this, I don't think most Resort companies want to get involved in paying legal costs to try to collect the unpaid maintenance fees, particularly if the owner states that they are older and medically unable to travel to use the unit. An older owner is also less likely to be affected by the threat that the default on the payment of maintenance fees will negatively impact their credit score as most older owners are not looking for credit. One would also think that a Bank would not penalize a customer who, other than the non-payment of the fees on an unsellable timeshare, had a good payment record for all their other obligations.

richardr614 wrote:

SP - f you have been an owner for a number of years and your unit is not mortgaged, some reputable Resort companies have unstated policies of allowing you to deed your unit to the Resort company and, in return, you will be released from any further liability for maintenance fee payments. There is usually an admin charge for this process ($250 is what I was charged). The reason that the Resort offers this option is that they have collected money from you when you purchased your unit and over the years through your annual payments. Further, they should be able to rent or resell the unit you transfer back. They also know that most owners will only pay the maintenance fee for so long before they just stop paying and take the chance that the Resort company will not sue them. Although I don't have the data to support this, I don't think most Resort companies want to get involved in paying legal costs to try to collect the unpaid maintenance fees, particularly if the owner states that they are older and medically unable to travel to use the unit. An older owner is also less likely to be affected by the threat that the default on the payment of maintenance fees will negatively impact their credit score as most older owners are not looking for credit. One would also think that a Bank would not penalize a customer who, other than the non-payment of the fees on an unsellable timeshare, had a good payment record for all their other obligations.

Not all timeshare companies will send your unpaid fees to a collection agency, but there doesn’t seem to be a good list of which ones do and which ones don’t. The best course of action would be to try to deed it back to the company or negotiate an exit plan if they don’t take deedbacks.

One thing is for sure, NEVER EVER pay someone upfront to “attempt” to get rid of your timeshare. Once they’ve taken your money, they have no incentive to do anything else.

Did you ever get an answer to your question about no longer using you Hacienda del Mar timeshare? Best, Phillip

Did you ever get rid of this?

lynnek92 wrote:

Hi all, I am in a similar position. I am retired and divorced My ex wants to stop paying MF on our timeshare at Pono Kai in Hawaii. It is a deeded property with no deed back or buy back program. We have paid off the loan x 30 yrs ago. I am willing to give it away I am aware of the suggested sites. My ex does not want to assist . I read in the contract that HOA/ Management Company will attempt to get payment, add delinquent fees, and eventually send it to a collection agency . Not sure if the agency will attempt foreclosure. This may be a long process because the HOA has just set a side so much for legal fees each year in the budget. We both have good credit. I really liked using the time share over the years. I feel terrible about abandoning my commiment.

My timeshare is paid off in full, I just have Maintenance fees and tried selling it to a company in Mexico and ended up wasting money. Any suggestions?

orbitk wrote:

My timeshare is paid off in full, I just have Maintenance fees and tried selling it to a company in Mexico and ended up wasting money. Any suggestions?

Not enough info here for a well informed response, but I'll offer some thoughts based upon the limited info provided.

Is the timeshare in Mexico, or is it only the company you sent money to that is in Mexico? An important distinction. If the timeshare itself is located in Mexico, you can (and you should) just stop paying, walk away and don't look back. You don't actually own anything there anyhow; you have a RTU (right to use) contract of very likely zero resale value. There is nothing they can do (or would even bother trying to do) from Mexico if you just stop paying and walk away.

If the timeshare is in the U.S., it's a different story. Is your ownership within a "chain" (such as Wyndham, BlueGreen, Westgate, etc.?) If so, some "chains" have their own "deedback" programs, which will cost you some money to utilize, but which provide a clean, guaranteed, lawful exit. Or, is your timeshare at an independent (i.e., non "chain") property? If the latter, your first move should be to ask the resort HoA to accept a "deedback" (I am assuming in making this deedback suggestion that your week has little or no value in the open resale market). If the resort HoA refuses to accept a deedback (refusal to accept a deedback is always their right and prerogative), then you will have to decide for yourself whether to just stop paying the maintenance fees and let them go ahead and foreclose at some future point, or first try to give the timeshare away for free here on RedWeek or on the TUG (Timeshare Users Group) site.

Again though, if the timeshare at issue is a RTU contract in Mexico, just stop paying, walk away and don't look back. Such contracts, which involve no actual ownership of anything, just a "right to use" for a defined period of time, typically 30 years) tend to have very little (and likely zero) value in the resale market. Even trying to give the RTU contract away for free might still involve some mandatory, hefty "transfer fees" imposed by the resort to transfer the contract.

Hope this input helps. Good luck.

orbitk wrote:

I just have Maintenance fees and tried selling it to a company in Mexico and ended up wasting money.

What do you mean by "[you] just have Maintenance fees"? Are your maintenance fees paid up to date or are you still owing?

As for this company in Mexico to whom you tried selling, how did you find out about this company and how did you come into contact with them? What was the procedure that caused you to waste money? Did they promise to pay you big bucks for your unit but then insist that there were fees or taxes that you had to pay in order to legally complete the sale?

Has anyone tried to sell a timeshare at The Royal Sands in Cancun or the Royal Hacienda in Playa Del Carmen? We own both properties, no loans. Maintenance fees are $1100.00 for one and $1350.00 for the other. We haven't been there in years. The contracts are 30 years and 50 years respectively. We've owned them for about 18 years. The weeks can be traded through Interval International. We have the whole villa that can be split into two separate weeks. Any advise? Thank you in advance.

So, I am in a dilemma. I bought a timeshare back in 2004 and has since been paid in full since 2012. I have continued to pay the yearly maintenance fees. The problem is that we are military and have lived overseas for most of the ownership. We have used it once back in 2012 and gifted a week to a relative back in 2008. We have lost all other weeks, and mind you thats alot of weeks cause we have owned in 19 yrs. We had odd yrs but still thats alot lost. Being in the military we are not capable of making travel arrangements so far in advance like is requested in order to get availability. Also living overseas also makes it difficult for the travel and the cost of travel is too much. The continued fees are extreme. We are never able to use our bank weeks before they expire or the availability is just not there so we have to end up paying to re-bank the banked weeks, then keep membership up to keep those weeks banked. Except the two times of use we have lost it all. We can't keep this up, and it's becoming such a stressful burden to just watch our savings deplete for something that we can't even use. I can't just stop paying the maintenance fees because husbands in military and it will effect his job. Exit companies have recommended me to just stop paying the fees but they don't understand the significance of not paying. It's not just a hit on the credit. Ive been told that maintenance fees are unverifiable debt but if a company just stops getting payment it's going to the collection agency. So I contacted the developer and spoke to the finance department and they told me to write a "hardship" letter to the legal department. And technically is my situation considered "hardship". They told me that they don't deed back or buy back but that the legal department may offer me a quitclaim deed. Im not looking to make any proceeds on this, I just want to be clear from it without hurting husbands career. We have just held onto for so long because we move around alot so it just gets put on back burner until I get the bill in the mail again. I have seen MANY complaints on BBB about how this company rejected their requests for even sick and retired people. What am I to do? I am very willing to just hand it over and they just continue the maintenance fees/membership. And how are they allowed to change the fees but we are not allowed to give back the timeshare? Please help me!

kcn wrote:

They told me that they don't deed back or buy back but that the legal department may offer me a quitclaim deed. <snip> What am I to do? I am very willing to just hand it over and they just continue the maintenance fees/membership. And how are they allowed to charge the fees but we are not allowed to give back the timeshare? Please help me!

First and foremost, sincere thanks to your husband for his dedicated service to his country and also to you for being there for him. Military life is very difficult and I sympathize with your having to deal with the burden of a timeshare ownership that you cannot use but which nonetheless continues to drain your finances.

Without knowing the identity of the company involved (I hope that it’s not Westgate), it’s hard to offer specific guidance. However, you mention (as quoted above) having been informed of the possibility of a quit claim deed which, in this situation, would be the instrument to effect a ”deedback”. If that “deedback” option exists, then it is something that you should pursue immediately, energetically and relentlessly. You indicate that a quit claim deed “may be offered”, but “may be offered” doesn’t cut it. You are going to have to press much harder to get a clear and definitive “yes or no” answer and, if yes, learn exactly how to initiate that deedback process and then promptly follow through from start to finish. Deedback involves financial loss, but it is almost always the cleanest and most efficient avenue to lawfully and permanently part company with a timeshare ownership that you don’t want and cannot sell. You won’t get a nickel for it (you may even have to pay for the “privilege” of giving it back), but this is still the best avenue to pursue for a clean, prompt, guaranteed, lawful exit”. You really need to make this a priority and get on (and then stay on) their case with unrelenting persistence to receive, execute and return a quit claim deed. If you are unwilling to just stop paying and let them go right ahead and foreclose, then relentlessly running this deedback option to ground is definitely the way to go.

Like it or not, annual fees are a contractual obligation associated with any timeshare ownership anywhere. Unfortunately, that contractual obligation exists (and continues to exist) whether or not you ever even use the ownership. However unwelcome, those fees are a legal fact of life in any and every timeshare ownership.

Whatever you do, DO NOT get involved with (or send any money to) ANY so called “exit / relief / escape / rescue” outfit. They are ALL just thieving parasites who cannot do ANYTHING for you that you cannot do for yourself, but who will gladly take your money anyhow. Don’t sign any agreements with any of these larcenous weasels and don’t even think about sending ANY of them a single penny.

I hope this helps. Good luck.

I'm is a similar position but I have points at Innseason. One week in July is guaranteed and the other 90,000 points can be used elsewhere. Total points of 225,000. We originally bought two units but converted to points years ago. We bought when Surfside was under construction. My husband died last year and I really want to get rid of the maintenance fee. We haven't used the resort in the last few years as he was unable to go. I let some of our family use it. I spoke with the resort and they have limited exit options and among other things, I would have to pay this years and next years maintenance fees plus other costs before they would even consider taking it back. I would never ask any family members to take it as they would eventually be in the position I'm in now. At least I believe it is a contract that will die when I do. I am going to try renting the July week this year.

Thank you for reply and I appreciate your kind words. I hold the timeshare with Tahiti village. But as I saw someone else on here state that they won't take it back for any reason so that makes me more nervous. The finance department told me to send the letter to the legal department and they will decide. So I am working on that and said a few prayers. When you say financial loss, do you just me that I won't make money back? Im ok with that. I am not looking to make any money on this, just want to be free and clear, stop wasting money and also not be a burden to my children later. I would give this away to anyone who wanted it but I can't get anyone to take it. Yeah, the exit companies make me nervous. Ive put it off so long because we move often and life happens so it just kinda got push back in my mind.

sarahf343 wrote:

At least I believe it is a contract that will die when I do.

Actually, it does not quite work that way. Assuming you have deeded property, then it, like anything else you possess, will be part of your estate when you die. If you're worried about your estate having it when you die, then I would talk with the executor of your will and discuss what to do if/when you die. The executor's best option at that time would probably be to do what is recommended here when someone wants to get rid of a timeshare. In this case, it would probably be to contact the resort's Homeowners' Association and explain that the owner is deceased, then ask the Association to take the unit back.

kcn wrote:

But as I saw someone else on here state that they won't take it back for any reason so that makes me more nervous. The finance department told me to send the letter to the legal department and they will decide. .......I would give this away to anyone who wanted it but I can't get anyone to take it. .........Yeah, the exit companies make me nervous.

Try contacting the Homeowners' Association again but this time explain, in no uncertain terms, that you are not going to pay another nickel in maintenance fees (unless it's to cover the transfer to the HOA) so it would be in everybody's best interests for the HOA to take the unit back cleanly and easily rather than go through the rigors of foreclosure.

You can also try advertising on Timeshare Users Group (aka "TUG"; tugbbs.com) in its Bargain Deals section that you want to give your unit away. It's free to advertise there.

kcn wrote:

<snip> When you say financial loss, do you just me that I won't make money back? Im ok with that. I am not looking to make any money on this, just want to be free and clear, stop wasting money and also not be a burden to my children later. I would give this away to anyone who wanted it but I can't get anyone to take it.

1. By “financial loss” (in a deedback), I was simply referring to the fact that your original purchase cost and all maintenance fees paid since then would simply be gone, with no financial "return". There could even be an additional fee demanded by the resort to accept the deedback at all, but on the positive side deedback would be the FINAL cost of permanently and lawfully removing this unwanted albatross from around your neck. I again strongly encourage you to pursue deedback promptly, energetically and relentlessly --- the squeaky wheel gets the grease. Remind yourself that this is a problem that will never just magically solve itself, no matter how often (or where) you relocate. The only "passive" solution is to simply STOP paying and let the inevitable foreclosure occur, but I understand that this is not an attractive option for you.

2. Unless your children are already named on the deed now as co-owners (I certainly hope not), they can never be forced to inherit your unwanted timeshare. They would only have to disclaim the inheritance, which is a very simple process. The fallacy of “involuntary inheritance” is one that is often thrown around by the exit company parasites to elicit guilt or fear, but there is absolutely NO basis in fact to that falsehood.