Timeshare default on maintenance fees

[Tim_Hawkins]

My jurisdiction is: Texas

We wish to stop paying maintenance fees on a timeshare in the Carribbean which has no mortgage. Our original contract from 1993 states "The Lessee may, at any time, surrender this agreement by notification, in writing, to the Lessor. The Lessee will be responsible only for the outstanding amounts due the Lessor for maintenance, damages, or other charges then due the Lessor, but will otherwise relieve himself and the Lessor of all further obligations hereunder". The ownership of the resort has changed twice since we bought it. Should we not send any more payments, would our good credit be in jeopardy?

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[dee_dub]

It sounds like surrendering the agreement by notification should not jeopardize your credit.

That being said, I have seen too many instances where people thought they were getting rid of their timeshare obligations only to find the management company coming after them at some point down the road for something or other. Be careful.

 

[Tim_Hawkins]

Thanks for your response. Since this is a lease rather than a deeded property, we are hopeful that may make a difference. We will consult an attorney before we send them anything and send an update response when we have more information.

 

[Tim_Hawkins]

We have surrendered the timeshare back to the new owners and they have sent us a letter that they have received that letter and we no longer owen this timeshare.
This was in St. Maartin, NA. I do not know but this may be the law on this island.
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[dee_dub]

Great. Hope you're sleeping easy now.