Atlantic Palace, ACNJ Deed Back

[wags117]

I have owned a deluxe studio here for about 30 years and loved it, but between getting older and the increases in maintenance fees, I’ve been wanting to sell. Got an email today that the organization that is behind the selling of the timeshare units at the resort filed for Chapter 11 this week and there was an FAQ in the email. At the end, there was an email address to contact if we had other questions so I asked “What options do owners have for a deed back? While your faq email says nothing will change, things have changed dramatically over the 30 or so years that I have owned at Atlantic Palace.”

I got a response! “
Please be advised of the following options regarding your timeshare account.

• You can choose to transfer the title to family or friend. Our title department can assist with the title and ownership transfer.
• You can choose to sell it. The resort does not assist with selling. Once you have a buyer, our title department can assist with the transfer of title and ownership to the buyer.

The title department has a flat transfer fee of $325.00 and recording fees range from $52.00 to $72.00 for any title transfer our department assists with.
The resort does not buy back units. You do have the option to terminate the account/ownership by deeding the timeshare back to the resort.
Our office must be informed by June 30, 2025 if you would like to proceed with the termination of the account. Termination or cancelation of the account may not be an option available at a future date.”

So I wrote back immediately saying I was interested. They are sending me the Quit Claim Deed for signature/notary. Woo Hoo!

 

[wags117]

I just got the quit deed and it will go out in the mail Tuesday. So glad to get out while I can. ACNJ isn’t what it used to be.

 

[GrayFal]

Great news for you .