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transfer deed [How to give away a TS]

Discussion in 'Buying, Selling, Renting' started by nadinag, Apr 30, 2011.

  1. nadinag

    nadinag TUG Member

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    Hello,
    Wow, this site is huge and a bit overwhelming!
    I searched the site, but search shows nothing on wanting to give away our timeshare. It is paid in full, and the maintenance fees are 900$ for even years, Westgate lakes resort and spa, Orlando, 3bed/3bath lockout, sleeps 12.

    I am not sure how to proceed, cause Westgate don't accept the deed-back, and not sure if Donating is garantied. What are my options? We are 3 owners for this deed, 2 in Canada, and one in New York, it seems so complicated!
    Any suggestions?

    Thanks a million,
    Nadina
     
  2. DeniseM

    DeniseM Moderator

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    The companies that "claim" to take donations actually charge YOU thousands of dollars to "take your timeshare off your hands."

    Please consider giving your timeshare away to a private individual who would like to own it, before you spend a cent with a company like this.

    Why do it yourself?
    -You can give it away yourself for nearly no cost.
    -You can control the transfer process to make sure it is truly transferred out of your name.
    -You won't have to deal with companies that may or may not be Legit.
    -You can transfer it to a private individual who will be happy to have it for their own use.
    -You will have the satisfaction of knowing that you ended your ownership legally and ethically.

    There are two places on TUG where you can give away your TS's for free (no charge for the Ads.) There are other cheap and free sites on the internet, as well.

    TUG Marketplace - the only cost is your TUG membership - $15 (List it for $1 and it will automatically go in the Bargain Basement Ads.)

    Bargain Deals - Totally FREE! - just write a simple post with all the pertinent info. In your post, include the following info.:
    -resort name
    -unit size
    -season owned
    -maintenance fee
    -current reservations​

    To make it more attractive I would:

    1) Pay 2011 (and possibly 2012) maintenance fees and don't ask for reimbursement.

    2) Pay for the title transfer (you can get a simple professional transfer for about $100) I've used this licensed document Prep. company and the owner is a Tugger. - Note, this is my personal recommendation, not as a representative of TUG.

    3) Reserve a popular holiday week in 2011/2012 for the new owner ​

    Good luck!
     
    Last edited: Apr 30, 2011
  3. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    DO NOT pay any group to "take it off your hands" as they are virtually all scams. Do everything you can using the advice Denise offers above to find a taker yourself, making sure the transfer is really and legally done then you'll rest assured you are out of the grasp of Wastegate. It isn't as hard as it may sound and will save you thousands that, if you pay one of those groups, actually offer no guarantee that the obligation is gone despite taking your money. Good luck & I hope you find a willing taker for the timeshare soon. As bad as Wastegate is those are some of the nicer units - people do take them.
     
  4. nadinag

    nadinag TUG Member

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    Thanks to both of you, I have just posted our timeshare on Bargains and put it on sale for a buck, I will see if anyone wants a 3bed/3bath in Orlando for $872 every 2 years!

    But if I am lucky to get someone, that will be a whole other ballgame of documents I suppose! Where to begin...

    Thanks again guys!
     
  5. DeniseM

    DeniseM Moderator

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    In my post above, I recommended a company that can do an inexpensive and safe transfer for you - they will handle the paperwork.
     
  6. nadinag

    nadinag TUG Member

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    Hi Denise,

    I have someone potentially interested.
    When I contacted Westgate, they told me I need to call a title company,called Equity Land Title and have them draft up the documents. Does the company you mentioned above provide the same service?

    Our Timeshare is in Orlando Florida, and we are 3 owners, one in New York, and two in Canada, not sure if it makes a difference.
     
  7. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    Any qualified closing company should be able to handle the process. Don't call or talk to Wastegate as they try to claim rights they probably don't have such as ROFR or a requirement to use an expensive closing company they get a commission from. It is your deeded ownership and you can legally transfer it to anyone you desire and use whatever closing company you wish. They (Wastegate) already got you for big money don't let them scam you out of more as you sell.
     
  8. nadinag

    nadinag TUG Member

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    Thank you John.

    For years, we have been asking Westgate to take the timeshare back for free and they have refused saying they do not take back, buy back or deed back. Now, I am reading this:

    http://www.equitylandtitle.com/PDF/Westgate_Sale_Procedure_and_Request_Form.pdf

    "Westgate has the first right to purchase your unit back. You MUST contact Westgate Buyback Department at (407) 355-1089 to obtain a waiver*A copy of the Westgateís Waiver must be included when submitting a request to our office."

    Should I NOT contact them? What about this Waiver they are talking about?
     
  9. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    Original purchase date is the key

    Which resort and when did you buy? They have NO ROFR or most resorts as the documents did not allow for it and without that they CANNOT retroactively make a change to require it. Around 2004 they did amend the sales documents at many of their resorts so NEW sales after that could be subject to ROFR. If you predate 2004 (and even if after) for ORIGINAL sale date - not any resale as the original terms survive the resale - then they have no ROFR on your deed. Read it over if it isn't in there you can safely ignore them and their threats as they are well aware they cannot enforce it. They are hoping you don't know that.
     
  10. nadinag

    nadinag TUG Member

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    Hi John,

    We had bought it in Jan 2005, Westgate Lakes Resort and Spa Orlando. I just found out that Westgate DOES have FROR.
    is this bad? If they decide to buy our timeshare back for a buck, can Westgate charge us the legal fees, contract fees, recorded deed fees, escrow order fees to make it happen, and possibly still have us paying the maintenance fees?

    if Westgate decides to exercise first right of refusal, they say will send an escrow order (fees?) and a copy of the resale contract to its title company (fees?).
    Their title company will prepare the final documents for the closing accordance to the terms of that contract (no mention of us seeing these documents to make sure that we don't end up paying maintenance and other fees after it is transfered ), then new deed is forwarded to the courthouse (fees?), then we will receive a check for the agreed purchase price (1$).

    Am i being paranoid, do you think we will end up paying all these fees if they exercise FROR?
     
    Last edited: May 2, 2011

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