Kurt Brown
TUG Member
I recently was sent a letter by a homeowners association that owners would be assessed a large amount in a special assessment.
In response, I entered into discussions with resort personnel.
The timeshare resort is distant from our home and is of no real further use, especially facing such a large special assessment.
Since there was nothing owing on the timeshare other than the current year's maintenance fees, I was preparing a new deed and transfer letters at my cost; that I would record the deed at no cost to the resort (I am an attorney).
The Assistant Manager wrote back that the Association does not take back timeshares.
I sent the following in response:
"I am trying to be helpful and trying to return the timeshare at no cost to the Homeowners Association, as compared to the Association hiring an attorney and going through the foreclosure process. I am an attorney and have drawn up the new documents at my cost, and will spend the considerable amount of money in recording fees to deed it back at no cost to the Association.
If the Association will not take the timeshare back when there is nothing owing other than the coming year's maintenance fees and assessments, the Association is in effect telling me that the timeshare is not even worth a year's maintenance fees. Under those conditions, it would make absolutely no sense to send even more money for an assessment on worthless property.
If that is the case, I would like to make sure that this issue is brought up at the next Homeowners Association meeting, in that the Association is wasting the owners' money unnecessarily in forcing owners to go through the foreclosure procedure. Please let me know when the next such meeting is scheduled.
Please have the head of the Homeowners Association respond to this message by next Monday."
I am awaiting a response.
I can understand resorts in a selling mode, when the sales are done using the typical high pressure, that the resorts would not want to take back deeds when there is a binding sales contract and when there is a considerable amount of money still owing on the purchase. A contract is a contract. And some people simply refuse to honor their commitments.
I would think that under those circumstances, the timeshare industry to build owner trust would take them back under extenuating circumstances, such as serious illness, death, permanent loss of job, etc. when those circumstances did not exist at the time the contract was signed.
In the current case, when there is nothing owing, I cannot understand the position of refusing to take them back with there is nothing owing on the purchase. Of taking the position that the purchaser is responsible forever for paying yearly maintenance fees, no matter what the situation.
I would expect that some resorts would threaten heirs in case of death of the purchaser, of the consequences of not paying.
I don't think that such policies do anything to keep the timeshare industry credible.
Any thoughts?
Kurt Brown
kjbrown@sprintmail.com
In response, I entered into discussions with resort personnel.
The timeshare resort is distant from our home and is of no real further use, especially facing such a large special assessment.
Since there was nothing owing on the timeshare other than the current year's maintenance fees, I was preparing a new deed and transfer letters at my cost; that I would record the deed at no cost to the resort (I am an attorney).
The Assistant Manager wrote back that the Association does not take back timeshares.
I sent the following in response:
"I am trying to be helpful and trying to return the timeshare at no cost to the Homeowners Association, as compared to the Association hiring an attorney and going through the foreclosure process. I am an attorney and have drawn up the new documents at my cost, and will spend the considerable amount of money in recording fees to deed it back at no cost to the Association.
If the Association will not take the timeshare back when there is nothing owing other than the coming year's maintenance fees and assessments, the Association is in effect telling me that the timeshare is not even worth a year's maintenance fees. Under those conditions, it would make absolutely no sense to send even more money for an assessment on worthless property.
If that is the case, I would like to make sure that this issue is brought up at the next Homeowners Association meeting, in that the Association is wasting the owners' money unnecessarily in forcing owners to go through the foreclosure procedure. Please let me know when the next such meeting is scheduled.
Please have the head of the Homeowners Association respond to this message by next Monday."
I am awaiting a response.
I can understand resorts in a selling mode, when the sales are done using the typical high pressure, that the resorts would not want to take back deeds when there is a binding sales contract and when there is a considerable amount of money still owing on the purchase. A contract is a contract. And some people simply refuse to honor their commitments.
I would think that under those circumstances, the timeshare industry to build owner trust would take them back under extenuating circumstances, such as serious illness, death, permanent loss of job, etc. when those circumstances did not exist at the time the contract was signed.
In the current case, when there is nothing owing, I cannot understand the position of refusing to take them back with there is nothing owing on the purchase. Of taking the position that the purchaser is responsible forever for paying yearly maintenance fees, no matter what the situation.
I would expect that some resorts would threaten heirs in case of death of the purchaser, of the consequences of not paying.
I don't think that such policies do anything to keep the timeshare industry credible.
Any thoughts?
Kurt Brown
kjbrown@sprintmail.com