So I emailed (memberservices@orangelake.com) and requested a warranty deed from Orange Lake Resort and received it in the mail within two weeks. I just called them to make sure there were no other hidden fees. She stated "that the paper would state how much we would be required to pay". So according to the deed, they only want $10. This legal terminology is so confusing. "Grantor, for and in consideration of Ten Dollars ($10) and other good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys and confirms unto Grantee, all that certain land situate in Orange County, Florida and described as follows:" Am I reading it correctly?
I received my requested my deed back packet for HICV Las Vegas Desert club this weekend. I requested it by phone on July 30th. I own a non converted one bedroom deluxe season four(Nov, Dec, Jan) week. My packet documents must be signed before a Notary Public, notarized and returned within 5 business days of receipt. Quoting some of the other instructions from the cover letter:
"Enclosed you will find the OLCC Nevada, LLC Grant, Bargain and Sale Deed that requires your signature(s) in order to release you from your Timeshare Week and Unit located at our Las Vegas Property Site. This Document will transfer title of the property back to OLCC Nevada, LLC. Acceptance of the Deed is at the sole and absolute discretion of OLCC Nevada, LLC and is based on the outcome of a title search on your property." It also states that there can not be an open/existing mortgage.
What might be confusing is the language of the deed itself. The way I read it is that OLCC Nevada, LLC will
pay me $10. I am the owner "Grantor" and OLCC Nevada, LLC is the "Grantee". Here is the specific language in the Deed.
"GRANTOR, for and in consideration of Ten Dollars and other good and valuable consideration to it paid by Grantee, the receipt and sufficiency of which is hereby acknowledged, by these presents does hereby grant, bargain, sell and convey unto Grantee, its successors and assigns, the following described real property". What then follows is a legal description of my week and the usual other legal stuff found in a sale of property. They even enclose a no postage required return envelope.
This week was purchased 15 years ago on ebay and my only additional cost was the $89 special assessment for the HOA legal fees resulting from the Leisure Resort bankruptcy. Summer Bay took over management, Harrah's purchased the property and we moved into much nicer digs across the street. HICV then purchased the management and development rights and they have continued to make substantial improvements to the new property.
Mailing tomorrow and I will post updates. Joe
PS: the direct phone numbers to the Recovery Team/Deeding at Capital Management, OLCC Resorts are 1-866-714-8679 and 1-404-477-7101.