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Has anyone purchased a foreclosed TS from a county tax sale, if so what was the process for Marriott?

mezal9

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Has anyone purchased a foreclosed TS from a county tax sale, if so what was the process for Marriott?
 

Ski-Dad

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Marriott Grande Vista - Florida Club
Grandview LV - Vacation Villages
This is an interesting question. Not surprised that there are no replies as these would be rare events, and the purchaser would also need to be on this forum.

Is this a California property? We know they charge property tax separately to the unit owners. Florida, Arizona and Nevada property taxes are paid by the HOA and charged back in MF, so you wouldn't see an individual unit ever go up for tax sale in those jurisdictions.

I would think it would be as simple as sending your quit claim deed from the county to Marriott Vacation Club's transfer department. MVC has a right of first refusal ("ROFR") on most resorts. I am am not sure how that would work on a statutory sale by the county. My guess is the statutory right of the county to affect the sale would prevail over any contractual ROFR rights belonging to MVC. I am sure MVC would not see as that straightforward.
 

Dean

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I haven't seen much from an MVC standpoint but I've seen this batted around quite a bit with DVC. IIRC the buyer is on the hook for all fees including back fees and late charges. I believe ROFR is already waived for these sales.
 

Ski-Dad

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I haven't seen much from an MVC standpoint but I've seen this batted around quite a bit with DVC. IIRC the buyer is on the hook for all fees including back fees and late charges. I believe ROFR is already waived for these sales.

I neglected to consider HOA MF fees. No surprise that HOA maintains position that its MF owing is still payable. A very interesting legal point whether their perspective is legal. Normally government taxes owing trumps everything. Example: If home with a large mortgage is sold by government for taxes owing, the purchaser gets a clear title and the prior mortgage is irrelevant.

That said, I anticipate you would need to spend tens of thousands fighting with Marriott to prove this point. There goes your value proposition.
 
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Dean

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I neglected to consider HOA MF fees. No surprise that HOA maintains position that its MF owing is still payable. A very interesting legal point whether their perspective is legal. Normally government taxes owing trumps everything. Example: If home with a large mortgage is sold by government for taxes owing, the purchaser gets a clear title and the prior mortgage is irrelevant.

That said, I anticipate you would need to spend tens of thousands fighting with Marriott to prove this point. There goes your value proposition.
I suspect the answers will be different if it's a foreclosure vs a tax auction. It may be different in different states or even counties as well. But all MVC has to do is refuse to allow transfer though I suspect that wouldn't be an issue if the laws of that state specifically wipe out previous monies owed.
 

Tokapeba

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I bought a Ridge Tahoe timeshare several years ago in Nevada. It came free and clear with nothing owed except future fees and title closing of I think $50.
 

SueDonJ

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I have a vague memory of somebody talking about the process with Newport Coast foreclosures but I'm not having any luck with a search so that could be only in my imagination.

Much more clear in my memory is TUGger @Beaglemom3 sharing her multiple experiences with purchasing Custom House foreclosures at auctions; this thread is one of several that she posted: [2011] Marriott Custom House T/S Auction Today

The details really depend on which resort(s) is/are being considered and whether the state and resort docs permit judicial or non-judicial or both types of foreclosures, and as mentioned above, if it's purchase loans, MF's or taxes or any/all in arrears. If you have a specific auction in mind you might mention the resort here so that the TUG legal eagles can tailor responses to what's permitted.

Good luck! If you go this route I hope you'll consider adding to TUG's limited experience in these matters. :)
 
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