Timeshare Maintenance Fees

[pbart]

I'm new to this service, so please excuse me if I'm in the wrong subject area.

My question relates to that biggest consumer scam of all times: timeshares. I'm ashamed to admit that my wife and I bought a fixed week unit in North Carolina in the mid 1980's. It's fully paid for. The sales pitch included all of the lies you'd expect.

We're considering defaulting next year on the annual maintenance fees. I fully realize that our unit would be foreclosed and we'd have a credit black eye and be bugged by bill collectors.

My question is: We own our home in Minnesota. It's fully paid for. On our default, can or would the North Carolina resort (owned by Whyndome Properties (sp??) in Arkansas) place a lien on our property in Minnesota?

 

[estanley]

Timeshare Worries?

hello pbart,

I work for a not for profit orginization called iDonate.com. We facilitate people in your situation on a daily basis. Not only can you get rid of the hassle and worry of this timeshare, but also you could be eligiable for tax benifit. Most importantly the funds that would be generated by this donation could help fund charities all over the world. Let me know if you want more info and we would love to help you.

Thanks,
estanley

 

[Pete_Sorensen]

Timeshare

Hi Pbart:

We had your same situation several years ago, and after reviewing many many alternatives, and reading other comments and ideas on this Forum, and not wanting to ruin our credit rating, we were told to "Quit Claim Deed" the timeshare back to the owners of the resort. Our unit was paid for also but did not meet our requirements any longer. They are also IMPOSSIBLE to sell and do not fall into the trap of paying up front as we did to sell as we never heard from the timeshare agency again..
The Quit Claim deed has to be recorded in the county of your timeshare, recorded properly and presented to them in person.
THEY WERE VERY RELUCTANT TO ACCEPT, and they hold this threat of filing a Lien over your property so that you will continue to pay your yearly assessments. When you actually think about it, why wouldn't the Timeshare agency not want the property back if in fact it was so valuable and sought after??? BECAUSE, they can't get rid of them either.!!!
Even after we Quit Claimed it over to them, they continued to send us threatening notes and bills for homeowner fees. We finally went to a Lawyer and after 2 letters from him, we have not heard from them again.
Thank God.
Good Luck!! Wish I could have responded sooner.

 

[Lost1]

Timeshare "obligation"

This question relates to those above with a twist. Recently I was contacted by a Collection Agency regarding an "obligation" I owed to a company for timeshare maintenance.

Problem, as I see it, I transferred back to the developers/managers my timeshare deed over 20 years ago. Since that time 1987/88 I have not been contacted by the resort people. I have the following questions:

1. Are timeshare resorts/management companies required to send annual bills for maintenance fees?
2. How far back can a company go in recovering fees?

I contend that since I had not been contacted in the past 20+ years by the resort my understanding was that I no longer owned this timeshare. If the resort/company did not process their end of the agreement 20+ years ago what can I do?

I will probably have to hire an Attorney for this but I'd like to have some understanding of my rights, and standing in this type of situation.

Thanks.

 

[dee_dub]

What did you do to transfer your timeshare back to the management? Did management agree to accept?

 

[Lost1]

transfer

First let me say that what I am writing is from memory only because I have no records of the events that took place over 20 years ago.

Approximately 3 years after purchasing the time share and using it only once, I found myself in a financial bind where I owed the upcoming maintenance fees. I explained my situation to the person who called from the management company and after a series of written and verbal communications we agreed I would transfer the rights and ownership of the two weeks (deeded) to the company in exchange for any debt of maintenance fees.

I'm not certain if they sent me a boilerplate type bill of sale, transfer, exchange but I do recall having it notarized. This all took place in either 1987 or 88. After I completed that process I did not hear back from the company until this past October when a collection agency called and said I owed 20 years worth of maintenance fees.

It was my understanding that I, in good faith, resolved my obligations to the resort and that was reinforced by not receiving any notices, bills, communications from the resort or their management company until just recently.

I'm not sure if this provides you with the information you were looking for, but that's where I'm at.

Thanks for reading my post.

 

[dee_dub]

Without knowing what your agreement was, it is impossible to say what your rights and obligations are. But in answer to your questions:

1. Are timeshare resorts/management companies required to send annual bills for maintenance fees?

I am not aware of any law requiring a timeshare management company to issue yearly statements. There might be something in the timeshare company's bylaws requiring it, or in the contract of sale when you bought in.

2. How far back can a company go in recovering fees?

A part of the debt may be barred by the statute of limitations. Assuming the applicable law is SC's statute, the management company may only be able to go back 10 or 3 years, depending on how the debt is categorized.

What is the management company now claiming you owe them - are these fees arising for maintenance since the transfer? Or were they fees owed at the time of the transfer? It is unclear to me that, when you returned the property to the management company, they agreed to relieve you of liability for any ongoing maintenance fees.

 

[Lost1]

What is the management company now claiming you owe them - are these fees arising for maintenance since the transfer? Or were they fees owed at the time of the transfer? It is unclear to me that, when you returned the property to the management company, they agreed to relieve you of liability for any ongoing maintenance fees.[/QUOTE]

I do not know exactly if what the collection company is trying to collect maintenance fees or a combination of fees. They claim I owe $23K in "obligations".

As stated I have not seen anything in writing, but only been called repeatedly by the agency. I have tried to explain my understanding, but they're in the business to collect money not resolve problems.

What I believe has happened is after I provided all the required information and forms some 20 plus years ago, the resort did not process the transfer, thereby keeping me - unknowingly, on the hook!

I do appreciate your responses. Thanks.

 

[Jaxon82]

This must be a fairly common situation. I also own a timeshare and paid for it in cash up front. The rising maintenance fees plus a few special assessments have become a "black hole" that I could no longer afford. Of course I could not sell the timeshare, nor could I donate it to charity even when the maintenance fees were current. Apparently the timeshare in Puerto Rico was so poorly maintained the charities knew they could not sell the unit so they would not accept it as a donation.

So now I am 2 or 3 years behind in maintenance fees and a collection agency is after me for close to $6000 (about half of that is late fees and penalties). I have been blowing them off so far. Just wonder what their recourse is.

 

[Jaxon82]

I own a timeshare in Puerto Rico. The maintenance fees + special assessments got too high while the resort itself went downhill, so I just stopped paying the maintenance fees. I first tried to sell, then donate the timeshare, but nobody would take it. I have accumulated about $6000 in unpaid maintenance fees + late fees and penalties (I think they tack on a 20% late fee!). A collection agency is trying to collect. What recourse do they have? I am simply refusing to pay.