State Law Sticky? Where?

[sea&ski]

We have a non-Marriott timeshare left in a trust and no one wants it. It has been recommended that I review this sticky but a search does not work for me.
Thanks!

 

[dioxide45]

Links to Official State Timeshare Laws and Guides/Manuals

@TUGBrian @DeniseM @CalGalTraveler take a look. This weekend, I’m creating a spreadsheet with official links to states’ timeshare laws, as well as their statuses as to non-judicial, anti-deficiency foreclosures. In the meantime, I will just keep adding notes. * Legal Disclaimer: This list...

tugbbs.com

Buying, Selling & Renting Timeshares Forum.

 

[davidvel]

We have a non-Marriott timeshare left in a trust and no one wants it. It has been recommended that I review this sticky but a search does not work for me.
Thanks!

Not sure what you mean by "We have a non-Marriott timeshare left in a trust and no one wants it." Is it your TS, and your trust, or someone else's, have they died...?

 

[sea&ski]

Not sure what you mean by "We have a non-Marriott timeshare left in a trust and no one wants it." Is it your TS, and your trust, or someone else's, have they died...?

Family trust, the timeshare is owned by it and yes, a death. I tried to give it away, to no avail. Now that no one wants it, it will be an issue if payments cease, the trust is on the hook.

 

[davidvel]

Family trust, the timeshare is owned by it and yes, a death. I tried to give it away, to no avail. Now that no one wants it, it will be an issue if payments cease, the trust is on the hook.

I still don't understand the relationships. Are you the successor trustee? Are you a surviving trustor (spouse)? What other assets are in the trust? Have they been distributed? Who are the people you are referring to "no one wants it?" Are they beneficiaries that were named by the trust to receive it as trust assets (if so, did they disclaim their interest?)

The answers to all these questions matter as to what can/cannot be done.

 

[Dean]

Family trust, the timeshare is owned by it and yes, a death. I tried to give it away, to no avail. Now that no one wants it, it will be an issue if payments cease, the trust is on the hook.

If there's a lawyer that's involved, ask their opinion. If the timeshare is the only thing in the trust couldn't you just let it die? Have you contacted the company to see if they'll take it back? Did you offer it for free on TUG? Don't give specifics but you should be able to give the company name here since it's a non Marriott. That would help us orient thoughts and suggestions.

 

[sea&ski]

If there's a lawyer that's involved, ask their opinion. If the timeshare is the only thing in the trust couldn't you just let it die? Have you contacted the company to see if they'll take it back? Did you offer it for free on TUG? Don't give specifics but you should be able to give the company name here since it's a non Marriott. That would help us orient thoughts and suggestions.

Well first off, the lawyer snorted - which indicates his TS opinion. I am sure he will help after I give it the old college try but yes, I have been trying to deed it back to the company since the first of two owners passed away two years ago. I keep hearing excuses from the company. A woman I know who owns there says she was dumb enough to accept a free ownership from someone she met at the "happy hour" several years ago. Now she can't get rid of it. It is under Alderwood Resort Management. Fact is, I don't even know which weeks are owned or if that is something this timeshare even uses.

 

[davidvel]

Well first off, the lawyer snorted - which indicates his TS opinion. I am sure he will help after I give it the old college try but yes, I have been trying to deed it back to the company since the first of two owners passed away two years ago. I keep hearing excuses from the company. A woman I know who owns there says she was dumb enough to accept a free ownership from someone she met at the "happy hour" several years ago. Now she can't get rid of it. It is under Alderwood Resort Management. Fact is, I don't even know which weeks are owned or if that is something this timeshare even uses.

No one can even start to try and help you if you don't give details as I noted in my prior post.

 

[Dean]

Well first off, the lawyer snorted - which indicates his TS opinion. I am sure he will help after I give it the old college try but yes, I have been trying to deed it back to the company since the first of two owners passed away two years ago. I keep hearing excuses from the company. A woman I know who owns there says she was dumb enough to accept a free ownership from someone she met at the "happy hour" several years ago. Now she can't get rid of it. It is under Alderwood Resort Management. Fact is, I don't even know which weeks are owned or if that is something this timeshare even uses.

I'm not a lawyer so just brainstorming here. Technically the trust is on the hook so if there are significant assets under the same trust, that might be an issue. If it were I and had put the effort into it for 2 years, I'd be tempted to just stop paying and let them foreclose. It's unlikely they'd do anything else but if they did go to the lengths of actually filling legal action (not just threatening which they likely will do), there will likely be a real lawyer involved and you could likely settle it at that point easily. I'm assuming you know for certain the timeshare is in the trust. If you're the current trustee and the timeshare is owned by the trust, you should be able to talk to them directly and get a lot more info than it sounds like you have currently. Let us know what happens.