Wyndham does deedbacks. It’s called “Certified Exit” and it’s free.
That is great. Are the rules like HGVC. You have to have paid off the loan if you had one to buy the unit and be up to date on your maintenance? So to be clear the BIG 3 Timeshare/hotel named timeshare companies are doing deedbacks. HGVC, Marriott, Wyndham. Are there any others? This is really important information for those here at TUG as well as all Timeshare owners that want or need to get out of paying their maintenance.
I have a unit in Holiday Hills that is paid for a long time ago and 2 yrs ago I wrote them to buy back or take for free. No one replied and then I spoke to rep who said I had to pay maint. Fees current and a transfer fee to return unit.
I know your post is from a few months ago but wanted to add my two cents. There are a large number of exit companies (maybe even most) that have glowing reviews that are fake. There are also a handful of exit companies that have hundreds of glowing reviews that are real. Think Wesley for example. Many people see these great reviews and are likely what they are referring to when they say “I heard these guys are good!” However, these exit companies thrive on easy exits, such as someone paying thousands of dollars upfront for a paid off Wyndham, using the owner available deed back program. They cash in on this easy exit by keeping the timeshare owner in the dark about options they could do themselves.
Bingo! There's finally a timeshare lawyer who tells the truth. That's all these so-called timeshare lawyers really do on owners' behalf. That's something an owner can do himself so he doesn't need any TS lawyer, law firm, or exit company to get rid of a timeshare.
There is no such thing as a "timeshare lawyer". Anyone who is trying to pass themself as one is lying to you. There are lawyers who may specialize in real estate, among other areas. No legitimate lawyer is ever going to tell you they can "get you out of your timeshare". I've said this many times, and I'll say it again. When you own a deeded timeshare in the USA, there is only one way to "get out of it" and that is to convey your ownership to someone else. That conveyance is in the form of a properly prepared, properly executed, properly accepted and properly recorded deed. That is it. If there is no conveyance of the ownership of that real property, then you still own it.
That conveyance can also be through the legal process of foreclosure.
Yes, indeed. However, a foreclosure sale also requires a properly prepared, properly executed, properly accepted and properly recorded deed. It just isn't a deed signed by the owner. And, that isn't someone "getting you out of your timeshare". It is a legal process that is only available in very specific circumstances.
Correct, it must be paid off and the maintenance fees must be up to date. If you are a developer purchaser they may even give you an extra year or two of usage (Wyndham).
I disagree that no legitimate lawyer would advise a client to just stop paying maintenance fees. In many/most states, that is absolutely good legal advice if the developer or HOA refuses to accept a deedback. Foreclosure is not the end of the world.
The poster didn’t write that a lawyer offered to “get them out of their timeshare.” The poster wrote that an attorney advised him to stop paying his maintenance fees and that there wasn’t really anything the timeshare developer/hoa could do to him. In many states that is absolutely true and good advice. In most jurisdictions I find it highly unlikely that an HOA would successfully be able to obtain a deficiency judgment for unpaid maintenance fees, and it’s not even a certainty that a foreclosure for maintenance fees only will ding your credit much. Plus, even if the HOA could get a deficiency judgment for unpaid maintenance fees, they’re not getting it for future fees, so all they could ever collect are the fees that the timeshare owner would have been paying in the first place. It is even more unlikely that, for maintenance fees only, an HOA would be able to get fees and costs awarded.
That isn't what I said. The point is someone was using the term "timeshare lawyer". There is no such thing. And, no legitimate lawyer is going to ever tell anyone that they can "get you out of your timeshare" because no one can "get out of" a deeded real property interest without a conveyance of title. When you sell or gift, or if you default and there is a foreclosure process, that isn't "getting someone out" of a timeshare. It is a sale or a gift or a foreclosure.
Perhaps you might consider reading the comment that I was actually responding to, instead of thinking that I was responding to the OP.
The poster that you responded to never wrote (at least that I can see) that the attorney offered to “get them out of their timeshare.” And a layperson might absolutely refer to an attorney who practices real estate but also gives advice to people who own timeshares as a “timeshare lawyer.”
103 and 105.
Serious question, one attorney to another: You have a client who owns a timeshare and comes to you for advice. They can no longer afford it, or maybe they’re older and can no longer use it. They have owned it for decades and there is no loan. They have tried to sell it or give it away, but it’s completely worthless and nobody wants it. The HOA doesn’t accept deedbacks. You advise your client to:?
I am not sure what you mean here? There are certainly attorneys that specialize their practice toward timeshare issues. I know of several and they are licensed attorneys. They are different than timeshare cancellation companies who are not attorneys and don't practice law of any kind. An attorney should never provide any kind of guarantee.
Yeah, exactly this. I see absolutely nothing wrong with the advice being referred to, ostensibly given by an attorney who specializes in timeshares, in post number 103. I’m not in private practice, but if I was, I’d likely give very similar advice.
There is no such specialty as a "timeshare" practitioner. There are specialties in marital dissolution, bankruptcy, criminal law, trusts and estates, etc., there is no such recognized specialty as "timeshare" representation. That is what I'm referring to.
It is impossible to respond to such an incomplete hypothetical. And, while I readily admit I am not familiar with each and every deeded timeshare company out there, the ones I am familiar with have a deed back process in place.
Why are you claiming that there would be something wrong? Try and zoom out for a minute. The comment was that a "timeshare lawyer" said they could only write a letter. Yes indeed, because there is no way to simply "get someone out of their timeshare". Thus, the lawyer cannot take any legal means to "get the person out". No one has said or implied that is bad advice, or frankly any advice at all. It just is what it is. What you seem to be missing here is that there are folks who claim that they can "get you out of your timeshare" indeed, that was the subject matter of the post. Timeshare exit companies are scammers. They cannot do anything to "get you out", just like a legitimate lawyer can't do anything to get you "out".
I’m confident that most competent attorneys, after carefully explaining all the potential pitfalls and outcomes, including foreclosure, would give the same advice.
