Developer Trying to Buy My Timeshare

[bizaro86]

But how can a private owner of the deeded weeks just convert them to whole ownership? Wouldn't it take a vote by the HOA/BOD of the timeshare units to convert another unit and allow it to join the whole ownership HOA?

I suspect you'd have to read the docs on a case by case basis.

I'm pretty confident that if I assembled all 52 deeds for a unit in a westin or Marriott resort they wouldn't let me be a whole owner and opt out of TS related costs.

An owner-controlled board in a complex where there are already whole owners is likely to be much more amenable.

 

[bnoble]

...or a Board dealing with growing delinquencies.

 

[jacknsara]

Perspectives but nothing specific to the OP’s situation.

Among several other areas of focus, I began pursuing the feasibility of de-annexation to deal with defaulting owners soon after being elected to BOD of Kauai Beach Villas in 2018. Regardless of RCI or Wyndham point conversion, all underlying ownership was tied to a week specific interval control number (ICN). It was determined to be legally feasible in Hawaii. However, it would require all ICNs associated with a particular apartment unit to be owned by the IOA (Interval Owners Association). Any other entity that pursed that would still need the IOA's concurrence. A question dealing with implementation (swapping out deeds with one ICN for an equivalent with a different ICN ) was included in a survey to owners. Without going into details, it appeared to be a very challenging strategy to pursue. Even if/when successful, it would leave a smaller base to spread out what were predominantly non-variable operating costs. Since at that time, KBV’s ongoing financial survival was not threatened, there was no further pursuit of that strategy.

The disparity between value of wholly owned weeks (several hundred thousand dollars) and resale timeshare weeks (~0*51=0) did offer a strategic way to maintain IOA (=HOA) operations and liquidity while pursuing a gradual going out of business strategy.

For anyone pursuing more details about the above, its all included in this TUG site. In particular in my campaign document which preceded establishment of https://tugbbs.com/forums/forums/kauai-beach-villas-ioa-public-square.61/ and the survey report in the linked forum.

Jack