OK- Now what?? (Timeshare Closeout)

Cdn Gal · Sep 5, 2009

So just to keep everybody up to date- we bought a timeshare at Bonnet Creek in May. After calling repeatedly and getting no answer that showed that our deed was sent to Orange county Florida for transfer we put in a request with our Mastercard. MC began the process of getting our $$ back. Only until then did TSCO notify us that the deed has been switched to our name. (4months later) So now this week the deed should be sent back to TSCO and then on to Bonnet Creek. We have been told by TSCO that it is up to Bonnet Creek to finalize everything. So... now what do we do? How do we find out if the maintenace fees are up to date for 2009 and if they are not, like in Krj999's case (where TSCO sent deed to resort but has not paid MF for 2009 and has not responded to e-mails or phone) what do we do?? How do we know when everything is finalized and there are no more problems? Should we give TSCO a date to have everything completed?? Also on our deed from Orange County it says 'QuitClaim' what exactly does that mean??? Thanks for any advice! We really appreciate it!

Dave H · Sep 5, 2009

Cdn Gal said:
So just to keep everybody up to date- we bought a timeshare at Bonnet Creek in May. After calling repeatedly and getting no answer that showed that our deed was sent to Orange county Florida for transfer we put in a request with our Mastercard. MC began the process of getting our $$ back. Only until then did TSCO notify us that the deed has been switched to our name. (4months later) So now this week the deed should be sent back to TSCO and then on to Bonnet Creek. We have been told by TSCO that it is up to Bonnet Creek to finalize everything. So... now what do we do? How do we find out if the maintenace fees are up to date for 2009 and if they are not, like in Krj999's case (where TSCO sent deed to resort but has not paid MF for 2009 and has not responded to e-mails or phone) what do we do?? How do we know when everything is finalized and there are no more problems? Should we give TSCO a date to have everything completed?? Also on our deed from Orange County it says 'QuitClaim' what exactly does that mean??? Thanks for any advice! We really appreciate it!

I posted this a while back, might help in understanding the types of deeds..

Easy way to remember:

Quit Claim Deed: I quit (give) any claim (interest) that I MIGHT have in the property, MIGHT have had in the property or someday MIGHT acquire.

If you look at that, it MIGHT really give you ownership, then again it MIGHT not. Notice the keyword in there?

A Warranty Deed, the seller(s) WARRANT (guarantee) they own the property and WARRANT that the property is free from any and all liens and encumberances and WARRANT they have the right to SELL, CONVEY and DELIVER marketable title.

There are also Special Warranty Deeds and others that limit those warranties, but are seldom used in the timeshare business.

OK- Now what?? (Timeshare Closeout)

Cdn Gal

TUG Review Crew

Dave H