Kauai Beach Villas - timeshare exit

[kbvownerexit]

contacted Kauai Beach Villas about time share exit - they referred me to Wyndham vacations which says KBV is not in their program but to contact KBV - KBV owners association seems to be focused on owners and not the timeshare group - further digging and emails from KBV - their advice is to sell or transfer to a relative - but with the current litigation and the poor condition of several buildings - attempting to sell or even give away the timeshare doesn't produce results

questions:
is anyone aware of the current litigation suits and if there is any suits filed on behalf of the timeshare owners

can anyone (not looking for opinion but factual advice) - advise do i continue to pay yearly maintenance and special assessments - a member of the KBV owner association told me 45% of timeshare owners are not current on yearly maintenance and 65% have not paid special assessments

would like to hear from other KBV timeshare owners

can anyone in legal field advise how to manage dealing with a organization that has admitted mismanagement and neglect - seems the KBV power association is looking toward bankruptcy and or short sale - ultimately i'd like to return the timeshare ownership and just walk away - not necessarily looking for - compensation i just don't want to keep paying on a sinking ship and or be abused by a new owner that could jack up the fees

 

[dioxide45]

You need to start by reading through the existing topics in the forum.

 

[bnoble]

Here's probably a good place to start:

KBV: Ballots on their way

Today’s USPS delivery summary includes something from “election services” on behalf of the KBV IOA. It appears we are getting one for each owned week. I haven’t gone out to the mailbox yet, so no idea whether this is The Big One or just a “routine” Board election. But keep an eye out for them in...

tugbbs.com

And here's a thread that outlines the options:

How can we get rid of a Kauai Beach Villas interval ownership?

How can we get rid of a Kauai Beach Villas interval ownership? We are getting too old to travel. Our kids don't want to deal with it.

tugbbs.com

There are many other informative threads, but some have a higher signal-to-noise ratio than others.

The short answer: there are only two ways to be rid of it. One: try to find some uninformed buyer you can take advantage of by selling to them. Two: stop paying, go into default, and see what happens. I am not willing to do Option One (it violates my own sense of ethics), and do not want to do Option Two.

I can tell you what we've decided to do instead: We believe that the resort will continue to operate while the whole owners' lawsuit is still unresolved. We are keeping current on fees, because we want to continue to benefit from the use our weeks for as long as we can. We believe the lawsuit is likely nearing its conclusion--possibly within the next several months, and very likely within the next year. We believe that once the lawsuit is resolved, the vote to terminate the resort will be held, and pass. At that point, the resort will begin winding down and will be sold at a court-ordered auction, and the proceeds--such as they are--will be divided among the owners of record, after accounting for any past-due fees.

 

[tango]

In other news, it has been stated that only default amounts exceeding $5000 will be acted upon. In the event of a liquidation of the resort, the default amount will be deducted from any payout. Amounts paid toward the last special assessment are held in escrow pending the outcome of the building project, and could be refunded if the project is abandoned. I have not seen the numbers about percent of timeshare owners in default, and it seems high.

 

[DeniseM]

In other news, it has been stated that only default amounts exceeding $5000 will be acted upon. In the event of a liquidation of the resort, the default amount will be deducted from any payout.

I believe you are conflating two things - I have not seen an OFFICIAL announcement that those in default will be eligible for payout at all. I only saw a post from a Wyndham apologist who speculated that this would happen. If the highlighted statement above was true, why would anyone pay their maintenance fee or special assessment?

 

[tango]

Not to really argue the point too much, but I’m just drawing on the usual legal understanding of ownership and debt. Which is to say that a deed is a document of ownership, and debts owed by liens against any property does not forfeit the ownership of such property, it is valid and reasonable that such liens be satisfied on any property before ownership dues are settled.

 

[DeniseM]

But, that is not what the board said - in one of their letters it was explicitly stated that owners in default would not be eligible for the proceeds from the sale of the resort.

 

[bnoble]

I remember one written statement, from the original letter in March of '23:

Breaking news from KBV board

Hopefully the same that happened to Wyndham for not paying.

tugbbs.com

The way I read that: If the payout is $X and I owe $Y (where Y < X) I will be paid $X - $Y. But IANAL, and there may have been other statements that read differently. My fees are also current, so I am not too worried about it either way.

 

[benoma88]

contacted Kauai Beach Villas about time share exit - they referred me to Wyndham vacations which says KBV is not in their program but to contact KBV - KBV owners association seems to be focused on owners and not the timeshare group - further digging and emails from KBV - their advice is to sell or transfer to a relative - but with the current litigation and the poor condition of several buildings - attempting to sell or even give away the timeshare doesn't produce results


would like to hear from other KBV timeshare owners

Contact for KBV Deedback program,
candace.watson@wyn.com

 

[waginger]

Contact for KBV Deedback program,
candace.watson@wyn.com

Have you contacted Ms Watson recently?

When I made contact with her in January 2024 she stated that the program had been available but was no longer available

 

[benoma88]

Have you contacted Ms Watson recently?

When I made contact with her in January 2024 she stated that the program had been available but was no longer available

We exited KBV via deed back in late December '23, probably less than a month of your contact with Wyndham. We kept our Wyndham Bali Hai in Prineceville. Sorry to hear the deedback program is no longer available.

 

[kbv007]

Does anyone have updated information about exiting the timeshare? We can no longer use ours, have voted twice not to proceed with remediation, and have not received informative communication from Wyndham about current status. Only that a lawsuit is still pending. Thanks.

 

[DeniseM]

Your only option is to stop paying the maintenance fee - that's what we are doing.

 

[TUGBrian]

as its a current hot topic, what is the "acted upon" process for owners who owe more than 5k?

 

[DeniseM]

Hi Brian - I don't know what "acted upon process" is, but we are in the over $5,000 category, because we own four, OF, 2-Bdms, and there are maintenance fees due now, to be followed up by ANOTHER special assessment.

We are taking this course of action because we visited the property in October, and despite the fact that we already paid a special assessment to repair them, the OF buildings are closed and condemned, and in shambles. They even cut back beautiful established landscaping and trees down to the ground around the buildings - that is not the action of a management Co. that intends to re-open the buildings.

 

[bianchicycle]

Hi Brian - I don't know what "acted upon process" is, but we are in the over $5,000 category, because we own four, OF, 2-Bdms, and there are maintenance fees due now, to be followed up by ANOTHER special assessment.

We are taking this course of action because we visited the property in October, and despite the fact that we already paid a special assessment to repair them, the OF buildings are closed and condemned, and in shambles. They even cut back beautiful established landscaping and trees down to the ground around the buildings - that is not the action of a management Co. that intends to re-open the buildings.

I own 5 weeks and also contacted Wyndham's Buyback program office. They will not include KBV because they (KBV) will not cooperate with the program. I do not intend to pay the maintenance fees or new assessment fees. I, personally, don't think the credit hit will make a difference unless you are thinking of buying a house or car for a while.

It was a wonderful property which we spent over twenty years there as our get-away place.

 

[bnoble]

They won't take back KBV because it is not clear whether or not the ultimate owner of those weeks is going to be on the hook for a major renovation. They'd be positively idiotic to take them back before the future of the resort is known.

FWIW, we have not received a bill for any of the proposed special assessments beyond the first (small) one last year, only the annual fees. We will continue to pay those, because we still get very good use out of our ownership. I'm also going to be buying a house in the near future, and would like to maintain my credit at least through that. That may change down the road if defaults go much higher, the Big One is billed, or once I've changed housing situations. But for now, I wait.

I still am of the opinion that the resort will dissolve sooner rather than later, none of the remediation work will ever be done, and monies collected for said remediation (which are currently being held in escrow) will be returned. But I'm also in a position where I can afford to keep going without too much pain, so it's easy to say that.

 

[kendoger]

Your only option is to stop paying the maintenance fee - that's what we are doing.

I doing the same thing. When I inquired about a deedback program in July of 2022, I was told it was not being offered at that time.