You are not paying attention to the focus of the post. The post was asking about the "exit" companies. The discussion I was having was about the misleading nature of the pitches made by those "exit" companies. The exit company cannot take any act that will remove the owner from title. As I explained, when someone actually owns real property, there is a deed. The exit company has no ability to change or eliminate the deed. The exit company cannot remove the owners name from the deed. The only way for an owner to no longer be an owner - when it is just the person and not involving any court intervention - is for that person to convey ownership via deed. That conveyance can be for actual compensation, or it can be for no compensation. In order to do that, there must be a properly prepared, properly notarized, properly accepted and properly recorded deed. There is no action that someone who does not own, like a pitchman from an exit company, can take to remove that ownership. It will require the owner convey the ownership. And, keep in mind that many of the exit company pitches are simply pay the exit company money and they will get you, the owner, out of the deed. That is the fraud.
Now, if you want to expand beyond the exit company's sales pitch, of course acts like foreclosure can remove the owner from title. But, the exit company isn't the one who processes a foreclosure. We weren't discussing foreclosures when answering the question of whether or not an exit company can legitimately remove the owner from ownership. If an owner owes purchase money and defaults in the payment of the loan for that purchase, then the lender can foreclose. That requires either a judicial or non-judicial procedure. Once again, that doesn't involve an exit company taking any legal steps or process to commence or pursue the foreclosure. That is done by or on behalf of the lender.
Now, if the property is fully paid, and the owner defaults in the payment of the maintenance fees, then typically one legal remedy available to the aggrieved HOA is foreclosure of the lien for unpaid dues/maintenance fees. That is a longer process and requires the HOA to commence the legal process. An exit company is not involved in that foreclosure.
I never said that a successfully completed foreclosure doesn't remove the owner from title. Indeed, that is the purpose of the foreclosure proceeding. But again, that has absolutely nothing to do with an exit company. That requires either the aggrieved lender or the aggrieved HOA to pursue those legal remedies as against the defaulting owner.
If folks are now spinning this to say that the mere act of giving advice is the equivalent of "getting an owner out of their ownership" then I will disagree. The point of my discussion was for the OP to be aware of what the exit companies promise because when it is deeded real estate there is no way to simply "get out" based upon an act done by the exit company.
This was not a post about giving advice as to all means of dealing with ownership or how to end that ownership. For goodness sake, when there is a post asking about those "rent your unused II exchanges now" - folks all chime in and say it is a scam, because it is indeed a scam. No one starts a discussion of how someone can rent their owned weeks out by placing an ad on Redweek or on TUG or some other platform because the topic is focused on whether or not the claim that unused getaways or II exchanges can be rented out, and not an overview of "how to rent out" a timeshare week.
