Best Way to Get Out of my HGV Royal Palm Beach Club

[jpalmd]

I purchased a Diamond Resort at Royal Palm Beach Club in St. Maarten in 2000 which is now a Hilton Grand Vacation. I love this place, but I am 72 and not wanting to fly much anymore and beach vacations are a thing of the past. I've also divorced and the maintenance fees are killing me. HGV has told me their Transitions Dept is "on pause" and not processing any applications, but I can submit a request and wait, but still need to pay my maintenance fees in January. I am trying to avoid that and wondering if I offer it up for free would I still need to pay those fees? This year is $1,037 and fees are paid every year. I own an every other odd year float week. I'm also considering just defaulting on it. My credit score is 854. I'm thinking even with a hit my score would still be reasonable. I am brand new to Tug and just started reading some of the forums. I look forward to your comments.

 

[Patri]

You have figured it out. You probably would have to pay the 2025 maintenance fee even if you give it away. A ding on your credit isn’t going to matter. The resort will just string you along.

 

[CalGalTraveler]

Check Redweek and ROFR.net to see if this has any value.

You could give it away for free and ask the taker to pay the transfer fee and 2025 maint since they will use it if the deed has value. If the deed is worthless you may need to add the free stay for 2025.

There is a TUG free giveaway forum with details on what to list. Check with LT transfers if they can transfer St. Martin.

 

[jpalmd]

You have figured it out. You probably would have to pay the 2025 maintenance fee even if you give it away. A ding on your credit isn’t going to matter. The resort will just string you along.

By stringing me along you mean they’ll keep trying to collect, but not necessarily put it in collections?

 

[jpalmd]

Check Redweek and ROFR.net to see if this has any value.

You could give it away for free and ask the taker to pay the transfer fee and 2025 maint since they will use it if the deed has value. If the deed is worthless you may need to add the free stay for 2025.

There is a TUG free giveaway forum with details on what to list. Check with LT transfers if they can transfer St. Martin.

Thanks for the tip on Redweek. There are two for $0, one for $3000 and one for $4500. Not too promising, but perhaps could get the maintenance fees paid along with the deed transfer. What is LT transfers?

 

[TheTimeTraveler]

Thanks for the tip on Redweek. There are two for $0, one for $3000 and one for $4500. Not too promising, but perhaps could get the maintenance fees paid along with the deed transfer. What is LT transfers?

Click below on their website and you can read all about them:


www.LTTransfers.com



.







.

 

[jpalmd]

Click below on their website and you can read all about them:


www.LTTransfers.com



.







.

Thanks for the info on both!

 

[Fido Chuckwagon]

I purchased a Diamond Resort at Royal Palm Beach Club in St. Maarten in 2000 which is now a Hilton Grand Vacation. I love this place, but I am 72 and not wanting to fly much anymore and beach vacations are a thing of the past. I've also divorced and the maintenance fees are killing me. HGV has told me their Transitions Dept is "on pause" and not processing any applications, but I can submit a request and wait, but still need to pay my maintenance fees in January. I am trying to avoid that and wondering if I offer it up for free would I still need to pay those fees? This year is $1,037 and fees are paid every year. I own an every other odd year float week. I'm also considering just defaulting on it. My credit score is 854. I'm thinking even with a hit my score would still be reasonable. I am brand new to Tug and just started reading some of the forums. I look forward to your comments.

If all you owe are maintenance fees (ie: there's no mortgage on it), chances are there won't be any credit hit at all. Just default.

 

[CalGalTraveler]

It depends on the state. Is this in Florida?

 

[GT75]

which is now a Hilton Grand Vacation.

The Diamond properties has been renamed HVC, Hilton Vacation Club.

 

[dioxide45]

It depends on the state. Is this in Florida?

St. Maarten. Island in the Caribbean.

 

[CalGalTraveler]

Is it even a deed? Check you property charter. Based in St Martin or points trust via HGV? If RTU or your transaction was via St Martin entity you may just walk. Some international RTUs have a clause in org docs that nonpayment for 6 -18 mos gives HOA right to take back RTU and resale. International entities can't report US credit.

 

[vail]

I purchased a Diamond Resort at Royal Palm Beach Club in St. Maarten in 2000 which is now a Hilton Grand Vacation. I love this place, but I am 72 and not wanting to fly much anymore and beach vacations are a thing of the past. I've also divorced and the maintenance fees are killing me. HGV has told me their Transitions Dept is "on pause" and not processing any applications, but I can submit a request and wait, but still need to pay my maintenance fees in January. I am trying to avoid that and wondering if I offer it up for free would I still need to pay those fees? This year is $1,037 and fees are paid every year. I own an every other odd year float week. I'm also considering just defaulting on it. My credit score is 854. I'm thinking even with a hit my score would still be reasonable. I am brand new to Tug and just started reading some of the forums. I look forward to your comments.

850 is the highest credit score even possible, so 854 is quite an achievement.

 

[klpca]

You have figured it out. You probably would have to pay the 2025 maintenance fee even if you give it away. A ding on your credit isn’t going to matter. The resort will just string you along.

FYI, when my mom moved into a continuing care facility, they ran a credit report in addition to requiring a financial report and an in-depth health exam. We were surprised! So, in my mind, that is the one and only thing that I would take into consideration when deciding whether or not to default.

 

[Patri]

FYI, when my mom moved into a continuing care facility, they ran a credit report in addition to requiring a financial report and an in-depth health exam. We were surprised! So, in my mind, that is the one and only thing that I would take into consideration when deciding whether or not to default.

Yeah, but when they find out it was for a timeshare in another country, I bet they won’t care. They will be interested in cash and assets.

 

[Patri]

By stringing me along you mean they’ll keep trying to collect, but not necessarily put it in collections?

They will keep pushing down the road any real effort to take it back.

 

[jpalmd]

FYI, when my mom moved into a continuing care facility, they ran a credit report in addition to requiring a financial report and an in-depth health exam. We were surprised! So, in my mind, that is the one and only thing that I would take into consideration when deciding whether or not to default.

This is a good point as I am getting up there in age, but as someone else mentioned they may not care about a timeshare.

 

[jpalmd]

Is it even a deed? Check you property charter. Based in St Martin or points trust via HGV? If RTU or your transaction was via St Martin entity you may just walk. Some international RTUs have a clause in org docs that nonpayment for 6 -18 mos gives HOA right to take back RTU and resale. International entities can't report US credit.

It is a deed. No points.

 

[LannyPC]

...but as someone else mentioned they may not care about a timeshare.

Yes, in fact this might be a positive. Most TSs have zero or even negative value. They might look at this saying you did what you had to do to get rid of this "asset" that was costing you [insert annual maintenance fees here] that you now no longer have to pay.

 

[jasper60103]

I purchased a Diamond Resort at Royal Palm Beach Club in St. Maarten in 2000 which is now a Hilton Grand Vacation. I love this place, but I am 72 and not wanting to fly much anymore and beach vacations are a thing of the past. I've also divorced and the maintenance fees are killing me. HGV has told me their Transitions Dept is "on pause" and not processing any applications, but I can submit a request and wait, but still need to pay my maintenance fees in January. I am trying to avoid that and wondering if I offer it up for free would I still need to pay those fees? This year is $1,037 and fees are paid every year. I own an every other odd year float week. I'm also considering just defaulting on it. My credit score is 854. I'm thinking even with a hit my score would still be reasonable. I am brand new to Tug and just started reading some of the forums. I look forward to your comments.

I’m in a similar situation. Paid off the timeshare over 25 years ago. I just no longer want it. The timeshare owner won’t take it back, even at no cost. They only offered me an expensive buyout option. I’m considering just stop paying maintenance fees.

Keep us posted on your progress or any additional information. Thanks.

 

[TUGBrian]

What happens if I stop paying for my Timeshare?

Can I just stop paying for my Timeshare? What would happen?

tug2.net

 

[callwill]

I’m in a similar situation. Paid off the timeshare over 25 years ago. I just no longer want it. The timeshare owner won’t take it back, even at no cost. They only offered me an expensive buyout option. I’m considering just stop paying maintenance fees.

Keep us posted on your progress or any additional information. Thanks.

Did you tell them that you will not pay them another dime and that they could do it the easy way, accept a deep in lieu of forclosure and would pay a reasonable cost of transfer, or do it the hard way and go for the full foreclosure. I dont know where your TS is but in certain states thats all they get is the TS.