HICV Timeshare Unpaid fees options (Texas)

[voorheesj]

Long story but my wife, and her parents signed as owners on several HICV properties. Two years ago, my wife and my father in law passed away; my mother in law has not paid maintenance fees or mortgage.

For one, they are "Joint Tenant with Full Rights of Survivorship", so as the survivor all rights goto my mother in law; much easier.
The other one (Galveston Seaside/Silverleaf-maintence fees only), the contract states "tenant in common" so it would pass to heirs. I did not probate wife's estate; instead did "Affidavit of Heirship" and "Statement of No administration" since the estate was small. I did not include timeshare as I didn't realize ownership was on the deed, not just a "user". My fault.

Nobody wants to keep the timeshares. We have reached out and HICV says they can't just "take it back" unless all fees are paid, can't even change the names on the deed for one under Joint Tenancy. So far they have not been sent to collections and they couldn't tell me how long or if they would. Meanwhile fees continue to build.

Now, we had one in Florida as well; that HICV attorney gave us the option to "Deed in lieu of foreclosure"and essentially just give back property without any fees. I've tried looking for case examples to see what options the Galveston one may give us since we are Texas residents.

I would appreciate any advice.

 

[DrQ]

The question is: Does your Mother in Law have assets?

I am not an attorney, nor am I giving legal advice, but if your MiL owns her home and car and she has declared the homestead exemption, then they would generally be protected in bankruptcy.

The tricky part is the mortgage, how much is outstanding? The Silverleaf Seaside that is paid off should be straight forward, but IDK how aggressive HICV is in pursuing delinquent maintenance fees. I would also look into the "Deed in lieu of foreclosure" option for the paid off property.

You may want to talk to a family attorney to see how to secure her assets in the case of judgment.

 

[TUGBrian]

does your mom also live in texas? how much is left on the loan and or how much is the total balance in default?

 

[voorheesj]

Yes, MIL lives in Texas as well.


Property 1
1,000 -maintenance
2,00+ -mortgage (JTWFRS-Joint Tenants With Full Rights of Survivorship)

Property 2
3,000+ -maintenance (Wife isn't on this one)

Property 3
5,000+ -maintenance (TIC-Tenant in common)

HICV said they won't do a "deed in lieu of foreclosure" unless all balances are brought to zero. That may change if/when they send it to a lawyer/collections.

 

[voorheesj]

Yes, MIL lives in Texas as well.


Property 1
1,000 -maintenance
2,000+ -mortgage (JTWFRS-Joint Tenants With Full Rights of Survivorship)

Property 2
3,000+ -maintenance (Wife isn't on this one)

Property 3
5,000+ -maintenance (TIC-Tenant in common)

HICV said they won't do a "deed in lieu of foreclosure" unless all balances are brought to zero. That may change if/when they send it to a lawyer/collections.

Corrected mortgage on property 1

 

[DrQ]

Where are these properties located and are the deeded weeks or are they part of the HICV Orange Lake Trust (Points).

I have two contracts, one was an old Silverleaf deed that was transferred to the Orange Lake Trust to get us into the points program, but our second property is still a deeded week at Hill Country, we just get credited the points value for the week into our account.

In your case it could make a difference how those contracts are structured. I would imagine the Orange Lake Trust will be run out of Florida, no matter which resort, but deeded property will go by the county the deed is registered.

 

[voorheesj]

All properties are in Texas.
Property 1 shows on Silverleaf account but contract states Orange Lake Country Club
Property 2 shows converted to Orange Lake
Property 3 only shows as Silverleaf

At this point I'm just trying to clear wife's name and divulge any interest I may have due to intestate heirship; and give suggestions to my MIL.

 

[DrQ]

I am not an attorney, nor am I giving legal advice, but you may want to look into separating assets from your wife to make her "judgment-proof". In Texas, they cannot garnish for this type of judgment. I would think that with Property 1&2, you will receive a certified letter from the Orange Lake HOA. If it were me, I would ask my personal lawyer to recommend a consumer attorney to respond to that letter and try to negotiate a settlement.

Property 3, no idea on how they will handle this in Texas. Please keep us updated.