Resorts accepting deedbacks

[Maple_Leaf]

I thought I would create a thread of resorts accepting deedbacks so that:

1. Owners who would like to escape their timeshare shackles can recognize an alternative to the PCC
2. Buyers who plan their exit strategy in advance can identify resorts with deedback policies

Royal Dunes, Hilton Head Island, SC accepts deedbacks

 

[TUGBrian]

we certainly suggest that ALL owners contact ANY resort and inquire about a deedback before making any decisions that involve paying money out of pocket to divest yourself of your timeshare.

 

[theo]

It's very hard to hit a constantly moving target...

I thought I would create a thread of resorts accepting deedbacks so that:

1. Owners who would like to escape their timeshare shackles can recognize an alternative to the PCC
2. Buyers who plan their exit strategy in advance can identify resorts with deedback policies

Royal Dunes, Hilton Head Island, SC accepts deedbacks

With all due respect, I really think that this might be a futile enterprise. Most resorts with which I'm personally familiar make that decision on a case by case basis, depending on a number of factors and variables. Surely, few (...if any) resorts have blanket "open door deedback acceptance" of any and all weeks. In addition, policies on accepting deeds in lieu of foreclosure ("deedbacks") can change at any time at any resort as BoD and HOA personnel (and their respective viewpoints) change.

Your effort is clearly one of good and noble intent, but it is essentially an impossible task. In dynamic, ever-changing resort circumstances and ever-changing HOA / BoD personnel, making such a list is like trying to nail Jello to a wall --- and today's correct input can quickly become tomorrow's wrong and obsolete information.

 

[puppymommo]

What Theo said.

 

[bogey21]

Most resorts with which I'm personally familiar make that decision on a case by case basis, depending on a number of factors and variables.

As one who successfully completed deed backs at 4 different Resorts I can second the above. In only one case was I successful with my first phone call. The others required many, many phone calls.

George

 

[gypsykate]

As one who successfully completed deed backs at 4 different Resorts I can second the above. In only one case was I successful with my first phone call. The others required many, many phone calls.

George

Do you typically have to pay a fee to deedback?

 

[TUGBrian]

While I have heard of resorts that will take back units without one, the vast majority of instances in my experience require the owner to at the very least pay for the administrative costs of transferring/recording the deed.

and a good % of them also have been charged a fee on top of that to return the interval back to the resort. (westgate for example)

 

[theo]

Not a "fee" per se --- it's really more a "negotiated settlement"...

Do you typically have to pay a fee to deedback?

I can't speak to George's experiences with "deedbacks" (re; post #5 above), which apparently occurred (at least) several years ago now, but I can and will make a few more current observations of my own regarding "deedback" criteria at some resorts with which I'm personally familiar today:

1. Maintenance fees must be current (paid up to date, no amounts in arrears) before any consideration will be given to a "deedback". That's fair and to be expected.

2. A "trend" of sorts seems to be evolving at some places, in which the would-be "deed donor" is also required to pony up the equivalent of at least a years' maintenance fee amount as part of any "deedback" acceptance agreement. The logic for this is obvious; once the HOA accepts a deedback, then no one is paying any maintenance fees on that particular (now-HOA-owned) week until such time as it gets into the hands of a new owner. Requiring advance payment of the equivalent of a year's maintenance fees gives the HOA and / or its' resale rep a year to try to "move" that week into someone else's hands, with the books staying balanced in the meantime, without burdening remaining owners to pick up the slack (deficit) created by deedbacks which, upon HOA acceptance, promptly cease to provide any maintenance fees.

 

[Maple_Leaf]

Royal Dunes

Do you typically have to pay a fee to deedback?

At Royal Dunes, the President outlined the resort policy for a deedback in the resort newsletter:

Your Board is making an effort to assist owners who, because of the economy or other problems, find they are no longer able to maintain their ownership of timeshare weeks at our resort. We want to help our owners avoid being taken by unscrupulous companies or other hustlers who might get them to pay a fee to supposedly take the week off their hands or to allegedly help them sell their timeshare week. The way your Board wants to help is to simply take the week back. Of course, there are some conditions. The following will give you a sense of them:

• At the time of transfer, the owner must be current in all obligations to the Association and be able to provide clear title to the unit weeks being transferred.
• We have some limits on the returns; generally 10 weeks of each variety (platinum, gold or bronze) per year. An odd/even pair will equal one week.
• In the event there are more requests for returns than can be accepted, based upon inventory limitation, and because the number of units in inventory will be constantly changing, the acceptance of voluntary unit returns will be on a first requested, first accepted basis as determined by the date the written request is received by the Owners Association.
• In documented emergency situations, or as the Board deems prudent, the Board may waive any or all of the above stated requirements. The Board also reserves the right to abolish or modify this policy if it is subsequently determined to be unworkable, ineffective or causing a financial hardship to the Owners Association
• All requests for the above voluntary unit returns must be in writing to the Board of Directors of the Royal Dunes Owners Association.

No mention was made of any "fee" for a deedback, other than the owner being current in all obligations to the Association.

 

[bogey21]

Do you typically have to pay a fee to deedback?

Mine were 3 and 4 years ago and things no doubt are different today. All my MFs were current and I paid $100and $50 on two of them, nothing on the other two.

George

 

[pedro47]

Mine were 3 and 4 years ago and things no doubt are different today. All my MFs were current and I paid $100and $50 on two of them, nothing on the other two.

George

You are one bless timeshare owner.

 

[theo]

Mine were 3 and 4 years ago and things no doubt are different today. All my MFs were current and I paid $100and $50 on two of them, nothing on the other two.

You were very fortunate to have achieved this success George --- and at such very low cost to boot, particularly since the economy (and the timeshare market) weakened considerably and perceptibly in and since early 2008.

You would almost certainly be hard pressed to duplicate that same "deedback" success today, even at the exact same facilities.

 

[TUGBrian]

I welcome folks posting things like the above announcement at royal dunes.

even the indication that a resort has at least SOME official plan in place to take back weeks on a case by case basis is a step in the right direction.

 

[dundey]

Morritt's Tortuga and Grand has a "takeback program".

They do not take back every unit, but owners can apply for this program and rid themselves of the week if they pay a $375 transfer fee and have the m'f paid up.

I do know of several owners that have taken advantage of this. But they do not promise to take every one back.

 

[SWowner]

return deed if still owe on it?

Is it possible to sell or return a Starwood deed if you still owe on it?

 

[DavidnRobin]

Is it possible to sell or return a Starwood deed if you still owe on it?

It likely depends on what the SVO VOI is and what is owed?
There is a SW forum on TUG.

 

[SWowner]

SW forum

Thanks - Do you know the title of the forum?

 

[DeniseM]

Thanks - Do you know the title of the forum?

It's the Starwood Forum: http://www.tugbbs.com/forums/forumdisplay.php?f=51

You have posted there several times: http://www.tugbbs.com/forums/showthread.php?t=214478

You also posted an Ad on the TUG Bargain deals forum in July - did you find a taker for your Harborside timeshare, or is this another one? http://www.tugbbs.com/forums/showthread.php?t=214136

 

[d2r4s]

giving back your time share

I thought I would create a thread of resorts accepting deedbacks so that:

1. Owners who would like to escape their timeshare shackles can recognize an alternative to the PCC
2. Buyers who plan their exit strategy in advance can identify resorts with deedback policies

Royal Dunes, Hilton Head Island, SC accepts deedbacks

Don't expect anything in return but time share companies will take back there weeks, points or what ever. Wyndham did, Jockey Club did, and now Marriott is. It pays to check since many time shares can resale the points or weeks again for good money, they have the marketing organization to do it.

 

[d2r4s]

Yes you can give it back

If there is an active marketing program going on at a time share why wouldn't they take it back, after all they are going to make money.

Marriott, Wyndham, Diamond will. I know since they took mine back. The rule is simple: owe nothing, no loan, maintenance fees paid. Don't expect them to give you anything. In the case of these resorts no cost to you to deed back.

John

 

[klpca]

An acquaintance of mine successfully deeded back a two bedroom Grand Pacific Palisades float unit. It was about 18 months ago. I believe that she had to pay something but I can't remember the details. Grand Pacific has a pretty steep transfer fee so I'm sure that was part of it. She had to ask more than once, btw.

I believe that she could have easily given it away as well but she didn't want the hassle.

 

[tschwa2]

If there is an active marketing program going on at a time share why wouldn't they take it back, after all they are going to make money.

Marriott, Wyndham, Diamond will. I know since they took mine back. The rule is simple: owe nothing, no loan, maintenance fees paid. Don't expect them to give you anything. In the case of these resorts no cost to you to deed back.

John

Marriott will probably take a platinum week almost anywhere and probably gold weeks too. They might even pay you a little to take them. Anything lower I wouldn't count on an automatic take back. It depends on the resort. They also don't want to take on too many of these weeks to load up the Trust because it will raise the MF to point ratio.

 

[tc]

Sucessful Deedbacks

It seems that Wyndham Resorts tend to take deedbacks without charge, as long as there is no loan and MF's are current. I deeded back a Wyndham Pagosa Springs week, I know of someone who deeded back a Wyndham Las Vegas week, and Wyndham Flagstaff has a stated policy of taking back weeks.

They say they like to use these deedback weeks as bonus incentives during their sales presentation.

Tom

 

[Rent_Share]

Why wouldn't/shouldn't they. They have set up CWA which can be re-sold at full price at any sales center.

 

[decadude]

Silverleaf supposedly does

Silverleaf supposedly will do deed back as long as you have a warranty deed. I called owner services and asked and have asked more than once and they said if you have a warranty deed (timeshare is paid off) and you are caught up on mf then you can deed back.