Deed Back Fees

[klagow]

Hello,

My husband and I purchased two timeshares in Florida. My husband passed away this past June. I contacted one timeshare about a deed back program and I was able to do it for less than $200. That was great! I contacted the timeshare at Vacation Village at Parkway that is administered by Daily Management, Inc. and they agreed to the buy back but they want to charge me: $1500 in settlement costs and they say that I have to pay the 2021 assessment fees which I do not think is correct. I asked them about it and they said well, it's been billed. But the due date is January 1, 2020. Does anybody know what a timeshare can charge for a deedback legally? Or short of just appealing to their sense of fairness because my income has been cut by 2/3, I have to sell the house to survive and I will never use the timeshare again, any other options?

Any advice would be helpful. I'm all alone and trying to handle all of this.

Thank you.

 

[bogey21]

I contacted the timeshare at Vacation Village at Parkway that is administered by Daily Management, Inc. and they agreed to the buy back but they want to charge me: $1500 in settlement costs and they say that I have to pay the 2021 assessment fees which I do not think is correct..

Correct or incorrect doesn't matter. They make the rules. I take you at your word that you will never use the Week again. So if you are not concerned about your Credit Rating, save the $1,500 and don't pay the MF. They will eventually badger you with mail and phone calls which you should just ignore. If they have your authority to charge either your Bank Account or Credit Card for the MF, close the Bank or CC whose number they have on file. Many here will tell you what I suggest is not the honorable thing to do but if you have to sell your house to survive and Daily Management won't work with you, screw them...

George

 

[klagow]

Correct or incorrect doesn't matter. They make the rules. I take you at your word that you will never use the Week again. So if you are not concerned about your Credit Rating, save the $1,500 and don't pay the MF. They will eventually badger you with mail and phone calls which you should just ignore. If they have your authority to charge either your Bank Account or Credit Card for the MF, close the Bank or CC whose number they have on file. Many here will tell you what I suggest is not the honorable thing to do but if you have to sell your house to survive and Daily Management won't work with you, screw them...

George

George,

Thank you for your response. I figured that their fees may be whatever they set them to be but I wasn't sure if there were some legal statutes in Florida that limits what they can charge. I am worried about my credit rating so I do not want to just not pay them but I've got a lawyer in the family that can write a nasty lawyer letter that might help.

 

[bogey21]

I've got a lawyer in the family that can write a nasty lawyer letter that might help.

Give it a shot. The sooner the better...

George

 

[CalGalTraveler]

Sorry to hear about your loss. You are in luck because these are located in Florida. Have your lawyer write the letter. If they reject, tell them that you will walk and will let them go to the expense, hassles and delay of a foreclosure.

Have your lawyer read the Florida TS law link and information below before s/he writes any letters:

Effectively you can walk and if you don't object or respond or indicate in any way that you will pay (i.e. ignore all collector calls and mail), then it will go into foreclosure as a non-judicial, anti-deficiency case. This means that they cannot go after your other assets if you ignore them. All they can get to settle their dispute it to take back the timeshare. (which is what you want.)

If you respond to them they can go after your other assets so you need to be careful and ignore them. Your credit may be affected but only temporarily. Frankly if you lost 2/3 of your income and must sell your home, a dip in your credit rating should be the least of your concerns. Good luck!

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

 

[elaine]

See my post in prior thread re take back denied for what will happen in FL. I agree to have atty write letter describing your circumstances. If it doesn’t work out, they’ll use non judicial procedure to take back the timeshare. It’s VERY important to NOT challenge the paperwork at all. Any response, comments, defense can possibly kick you out of this process. They get your ts back but no other assets of yours. Do not pay 2021 fees if you plan to surrender the ts under this. You’ll get letters 1st saying you’re delinquent etc before they start the process.

https://www.flsenate.gov/UserContent/Session/2011/Publications/InterimReports/pdf/2011-201bi.pdf