Capital vacations deed back

[cindyhbt]

Has anyone done a deed back with capital vacations. They said there is a $480 processing fee and a $2350 relinquishment fee.

 

[Tracyyy3]

This is accurate. $480 is for legal fees (drafting and recording of the deed back documents) $2350 is for the relinquishment fee as you stated, (typically anything that may be past due on maintenance fees and/or a year of future dues).

 

[fly2sun]

I spoke to a representative at Capital Vacations yesterday and was quoted $480 processing fee + 2x annual maintenance fee (at the resort you wish to relinquish) per week. Is $2350 2x’s your MF?

 

[cindyhbt]

I spoke to a representative at Capital Vacations yesterday and was quoted $480 processing fee + 2x annual maintenance fee (at the resort you wish to relinquish) per week. Is $2350 2x’s your MF?

yes my annual fee is 1175 so 2350 is correct. I have not been able to get a response from them since my initial email

 

[cindyhbt]

im curious if anyone has successfully been able to do the deed back.

 

[TUGBrian]

plenty of people! what did they say when you called to ask?

How To Get rid of or Get out of a Capital Resorts Timeshare!

TUG has an updated free guide on your exit options for a capital resorts timeshare: https://tug2.net/timeshare_advice/get-out-of-capital-resorts-timeshare-ownership.html alternatively, here is the direct information on how to reach out to capital resorts to try to surrender your ownership...

tugbbs.com

 

[cindyhbt]

So far the resort has accepted the relinquishment fee but capital vacations has yet to cash the check for processing or send the deed documents for signing. It's only been 3 weeks so I'm trying to be patient.

 

[cindyhbt]

As of today all the paperwork is ready to go. Our resort accepted our request to deed back the property. The whole process took 10 weeks.

Things everyone should know:
1. We owned an original contract deeded week. That means we never bought more weeks or changed it to a point system. Though we came close many times but always recinded the contracts.
2. We spoke with the resort manager who refered us to the management company Capital Vacations. The resort manager facilitated many of the calls. Capital Vacations would not return emails or calls.
3. We paid two years maintenance fees $2350 to the resort as well as a $480 title fee to Capital Vacations. I banked my remining points and weeks with RCI. They are still mine to use. I have two to three years to use them as long as I pay the RCI renewal fee. Those points or weeks do not go with the deed back of the timeshare.
4. Once those fees are recieved we waited 10 weeks to recieve the title return paperwork.
5. I did have to pester the manager over the past couple of weeks because I did not recieve any acknoledgement from Capital Vacations during the previous 8 weeks.
6. It is not required but I will be mailing the paperwork which has been notarized via certified mail to ensure it was recieved.

I have horrible remorse over returning our property, but the decision was made do to our iminent retirement which meant less income. I also did not want my children to have to deal with the perpetuity clause when we pass. We have had 23 wonderful years of vacations. with our resort and RCI management. Our maintenance fees were $500 when we bought the deeded week at Hollywood Beach Tower they have incresed to $1175. Our original purchase price was $5000. This is a drop in the bucket to what people pay these days for a timeshare. We had one special assesment of $1750 five years ago, during our ownership, for refurbishment of the units and resort by the SPM managent company. The new management company,Capital Vacations, is planning another special assessment soon to refurbish electrical units such as heating, AC, and pool filtration. I feel like we were lucky and got a good value for our timeshare use. Our timeshare was located directly on the gold coast of florida which made it easy to trade. Luckily we never had any hurricane damage. Despite the limitations for deeded weeks, I would never reccomend anyone buy into a point system.

 

[TUGBrian]

very happy to hear you were able to surrender this back, though the fact it seems like a very cumbersome and drawn out process doesnt bode well for future owners and ive heard this experience frequently!

I can only guess it is deliberate in the hopes people will give up and keep paying.

 

[cindyhbt]

I just paid to renew my RCI membership this spring and booked another timeshare for this August. So far I am having no difficulty using my remaining points. I will have to pay for a two year extension as there are still 58 points left. When I told the operator I was surrendering my timeshare she said I would be able to continue my membership as long as I paid my renewal fees. I was able to book a 3 bedroom at a beautiful resort in Orlando for only 11 points (which is different because I owned a week system) and $299.

 

[theo]

When I told the operator I was surrendering my timeshare she said I would be able to continue my membership as long as I paid my renewal fees.

It has always been an option to maintain a RCI membership after parting with actual ownership at RCI-affiliated resort(s). That observation aside, I don’t see anywhere in your posts any mention of Capital Vacations having actually provided you with with any formal acknowledgement and / or documentation regarding the successful completion of your “deedback”.

Seeking clarification / confirmation on this particular missing detail, simply because I personally do not trust Capital Vacations — at all, about anything.

 

[cindyhbt]

you scared me with that question. I called the resort to double check. I am no longer listed as the owner of that unit. I kept copies of all the email correspondence, canceled checks and so forth. I have a very clear paper trail. One of the last letters also stated that I would no longer have access to the unit once I mailed my relinquishment payment and it would revert to Capital Vacations. Its a win win for them. I have covered 2 years maintenance and a $480 paperwork fee. Capital Vacations will convert it to their points system and sell it for 2 to 4 times what we paid for it. That relinquishment paperwork will stay with me until the day I die so that there is no doubt for my heirs about the liability of that unit. It was a beautiful unit in a highly sought after location. If you were going to screw up and buy a timeshare. that was the one to buy. As a weeks owner you have less flexibility for bookings but you have more resale power as it is not part of a bank of weeks where you are entitled to one at some time during the year. My week and unit was my week and unit every year.
My RCI membership is paid for separately from the time share maintenance fees. It is my understanding after a phone conversation with RCI that I will have access to last call and extra vacations as long as I continue to renew my membership. Its totally different from the Points system. I recently booked a 3 bedroom for 11 points and a $299 exchange fee, at a gold crown in Orlando for this summer. even without the points it was only $599 for the week as an extra vacation. I still have 51 week points to use up. I will have to pay $99 to renew those remaining points if They are not used by June 2026.
I really miss the access I had to my timeshare but the liability is just to high. Its $2000 to book the one bedroom for that same week. I liked the roominess of the timeshares. I feel safer staying there than a hotel room. There is a little bit of trashiness but most of the guests are other timeshare owners and are respectful of the properties.

 

[moonstone]

My RCI membership is paid for separately from the time share maintenance fees. It is my understanding after a phone conversation with RCI that I will have access to last call and extra vacations as long as I continue to renew my membership.

Yes, many people have done that. I don't believe RCI checks (so far) for continued ownership before renewing membership. Those Extra Vacations and Last Call weeks do not require any points (of any kind) and are just paid for. There is no limit (within reason) to how many of them you can book in a year. If you were booking dozens I think RCI would catch on and see if you were renting them which is against their rules. I have had lots of family and friends book Extra or Last Call weeks over the years. Sometimes RCI has a sale which reduces the cost of them. A few years ago our oldest son even suggested to his boss that when a crew needed to be in the Orlando area to work for a couple of weeks, it would be cheaper to have me book a few Last Calls and/or Extra vacations than to put everybody up in hotels. Alas, I could not get enough units for all of them so just management stayed in the timeshares.

~Diane

 

[carl2591]

Just wanted to add to this thread.. did a Capital Vacation tour today in branson MO.. I asked about the deed back and was told the 480 not not the 2 yrs MF part.. but that figures it all about the mistruth..

One thing that was interesting, now reading this post about the unit you are turning back,, we are offered somewhat of the same thing in the form of points which included 6 "bonus weeks" as they were attached to the original contract..

apparently bonus week are like the II bonus weeks that cost like $180? or so to use..

got a $200 american express card with a 11/25 expire date.. wonder how many go unused.. NOT MINE.. going hit that shti soon.. don't do gas they said or at restaurant you have to specify no tip on card as it auto does 20%..

I check and both amazon and walmart take them..

you scared me with that question. I called the resort to double check. I am no longer listed as the owner of that unit. I kept copies of all the email correspondence, canceled checks and so forth. I have a very clear paper trail. One of the last letters also stated that I would no longer have access to the unit once I mailed my relinquishment payment and it would revert to Capital Vacations. Its a win win for them. I have covered 2 years maintenance and a $480 paperwork fee. Capital Vacations will convert it to their points system and sell it for 2 to 4 times what we paid for it. That relinquishment paperwork will stay with me until the day I die so that there is no doubt for my heirs about the liability of that unit. It was a beautiful unit in a highly sought after location. If you were going to screw up and buy a timeshare. that was the one to buy. As a weeks owner you have less flexibility for bookings but you have more resale power as it is not part of a bank of weeks where you are entitled to one at some time during the year. My week and unit was my week and unit every year.
My RCI membership is paid for separately from the time share maintenance fees. It is my understanding after a phone conversation with RCI that I will have access to last call and extra vacations as long as I continue to renew my membership. Its totally different from the Points system. I recently booked a 3 bedroom for 11 points and a $299 exchange fee, at a gold crown in Orlando for this summer. even without the points it was only $599 for the week as an extra vacation. I still have 51 week points to use up. I will have to pay $99 to renew those remaining points if They are not used by June 2026.
I really miss the access I had to my timeshare but the liability is just to high. Its $2000 to book the one bedroom for that same week. I liked the roominess of the timeshares. I feel safer staying there than a hotel room. There is a little bit of trashiness but most of the guests are other timeshare owners and are respectful of the properties.