Cancel Contract from 1991

[recabeck]

Hello guys, my mother signed a contract in 1991 for a Timeshare apartment from Westgate Resorts. The contract is for 99 years. She is not a US citizen, lives in Chile and is 67 years old with no income.

She can only use 1 week a year on fixed dates, and she has been paying almost USD 1,500 a year without taking advantage of it (for the past 5-6 years).

Given her age, financial situation, and no ties with the US she wants to get away from this bad investment.

Is there a proper way to cancel this contract without walking away from it?

 

[Luanne]

She can just walk away from it. Since she is not a U.S. citizen and doesn't live here I doubt there is anything they can do.

 

[recabeck]

She can just walk away from it. Since she is not a U.S. citizen and doesn't live here I doubt there is anything they can do.

Thank you Luanne. I told her the same thing, but she is fixated with the idea that walking way will carry problems to her.

I wonder if there is a proper way of doing this.

 

[rickandcindy23]

No, rest assured, your mom will not be have to pay any additional money on that timeshare. There is nothing they can do to her.

 

[Sea Six]

Just stop paying the fees. Stop it. They're going to affect her credit rating? Give me a break!

 

[Eric B]

Just guessing, based on the posting in the Florida Timesharing forum, that it's for a timeshare in Florida where there are anti-deficiency laws that would prevent Westgate from getting anything more than the deed back for it. Look over the info that @Grammarhero put together in the thread at

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

 

[recabeck]

Just guessing, based on the posting in the Florida Timesharing forum, that it's for a timeshare in Florida where there are anti-deficiency laws that would prevent Westgate from getting anything more than the deed back for it. Look over the info that @Grammarhero put together in the thread at

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

Thanks for sharing this. Yes, its in Orlando, Florida. For Westgate to get the deed back I guess she would need to pay?

 

[Grammarhero]

Thanks for sharing this. Yes, its in Orlando, Florida. For Westgate to get the deed back I guess she would need to pay?

Yes. Westgate would require a money for a deedback. If Westgate refuses to deedback, please read the below.

* Legal Disclaimer: These table and paraphrases of timeshare MF or mortgage (mort.) foreclosure (FC), deficiency/ anti-deficiency/ permissive anti-deficiency (D/AD/PAD), judicial/ nonjudicial (J/ NJ), and statutes of limitation (SOL) laws are to provide basic information. These table and paraphrases assist those doing their own legal research and make their own decisions on timeshare-related actions or inactions. These list and paraphrases are NOT intended to render legal advice, establish an attorney-client relationship, or be an alternative for appropriate legal research. The referenced information constantly changes and evolves. Please consult appropriate legal counsel prior to any timeshare-related activities or signing any timeshare documents. Every situation is different, and please consult a legal counsel on your particular situation.

http://www.leg.state.fl.us/Statutes...ute&URL=0700-0799/0721/Sections/0721.855.html

http://www.leg.state.fl.us/Statutes...ng=&URL=0700-0799/0721/Sections/0721.856.html

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0095/0095.html

Operative Language: “If you do not object to the use of the trustee foreclosure procedure, you will not be subject to a deficiency judgment even if the proceeds from the sale of your timeshare interest are insufficient to offset the amounts secured by the lien.”

Operative Language: “WITHIN FIVE YEARS.— (b) A legal or equitable action on a contract, obligation, or liability founded on a written instrument . . . (c) An action to foreclose a mortgage.” Sec. 95-11.

Note: non-objection or inaction likely leads to non-judicial, anti-deficiency treatment; objection may waive non-judicial, anti-deficiency treatment. TS defaults have SOL of five years.

 

[Talent312]

If she wants to "do the right thing," contact them and offer a deed in lieu of foreclosure.
When they say they want money, tell them to pound sand and tell your mother about it.
She may agree to stop throwing good money after bad.
.

 

[Grammarhero]

Thanks for sharing this. Yes, its in Orlando, Florida. For Westgate to get the deed back I guess she would need to pay?

@recabeck We are you are well and healthy. If you made the difficult decision to default, mind sharing if your credit got affected? It would help tuggers in similar situations moving forward.

 

[Talent312]

Again, tell Westgate that they can either:
-- File a foreclosure; or
-- Accept a deed in lieu of... --
And if they make threats or demand $$, say:
"You either want it or you don't. The shoe is on your foot. "
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