Deed- no account

[Rich S]

If you look at the Udeed website, you won't see any reference to timeshare transfers. All they seem to do is title transfers for real estate. There are a fair number of companies that specialize in timeshare transfers, which include dealing with the contractual relationship between the owner/deed grantee for the timeshare usage period and the home owners association or whatever entity is running the resorts. The transaction you accomplished seems to have only changed the real estate ownership side of the relationship, not the contractual side for management of the resort. The seller may have continuing obligations under the contract, but that's between him and Diamond to deal with; your problem, IMHO, is that you need to have that aspect of the transaction completed.

Ok, thank you!

 

[CPNY]

Robert thank you for your reply and input. Please don't misunderstand, there is no buyer's remorse on this end.

The seller's agent contracted to have the deal done within 90 days. It was not. Eight months later I informed them that I was not comfortable with the amount of time that it was taking to get this done and I was out. There was no reply. I found out on Tuesday that the deed had been recorded in November. The only way I knew about anything was that I received a tax bill.

If it is the responsibility of the seller's agent to have done that, that's what I would expect. Is that unreasonable?

Having found out about this the way I did raised red flags for me so I came to the TUG community (who's opinions I value) for their knowledgable input.

I would contact DRI and see what needs to be done. You may just have to fill out a transfer form, mail in the deed with a resort transfer fee and they will do the rest. They will most likely contact you with a welcome packet and instructions on setting up online accounts for reservations. You’ll also have to set up an exchange company profile. I think that’s RCI. So you’ll need a new RCI account as well

 

[theo]

There was a transfer company........ It was recorded in my name and that's where we are at this point.

This is the very first mention I've seen from you in this thread of a transfer company being involved. It might be that, after recording, the original deed was returned to the transfer company instead of directly to you. In any case, the deed was recorded and you are the new owner, even if the original recorded deed that should have been forwarded to you was not (nor a copy sent to Diamond either).

The bottom line is that you now need to "close the loop" by obtaining and then providing a copy of the new recorded deed to DRI, thereby getting the transfer acknowledged within DRI's system (there may be a "transfer fee" imposed; I don't know much about DRI internal practices). Let's hope that what is reflected in that recorded deed is in fact precisely what the P&S contract had identified.

You are responsible for the 2020 maintenance fees in any scenario; the bill was likely issued around November 2019 and due by around the end of January 2020. In the final analysis, all that you will have "lost" is the opportunity during the first three months of 2020 to make a 2020 reservation. The good news is that if you had already been able to (and chosen to) make a reservation for April 2020, chances are very good that the reservation would have been cancelled by now anyhow, due to the ongoing Covid-19 situation.

 

[Rich S]

This is the very first mention I've seen from you in this thread of a transfer company being involved. It might be that, after recording, the original deed was returned to the transfer company instead of directly to you. In any case, the deed was recorded and you are the new owner, even if the original recorded deed should have been forwarded to you, but was not (nor a copy sent to Diamond either).

The bottom line is that you now need to "close the loop" by obtaining and then providing a copy of the new recorded deed to DRI, thereby getting the transfer procedure acknowledged within the DRI system (there may be a "transfer fee" imposed; I don't know much about DRI practices). In the final analysis, all that you will have "lost" is the opportunity during the first three months of 2020 to make a 2020 reservation. On the other hand, the good news is that if you had been able to and chosen to make a reservation for April 2020, chances are very good that the reservation would have been cancelled outright by now, in view of the current virus situation.

I can't thank you enough for your insight and words of wisdom. I really appreciate you taking time out to discuss this with me.

 

[Rich S]

Hello everyone who has participated in and / or followed this thread. I hope you and your families are well and managing.

I just wanted to update you on this situation. I contacted the company that had offered the timeshare and (to make a long story short) I was able to register the timeshare in my name and access my account. I paid the taxes, and the maintenance fees are due at the end of the month so I will take care of that, and then when things get better (COVID19 wise) I will be attempting to book something.

Everything worked out and I am feeling much better about the transaction now. It was touch and go for a while, but all's well that ends well.