Last resort actions?

[HammerDown]

What are the consequences of simply ignoring the maintenance fee at the end of the year? It looks like over the last several years, this fee for my deeded unit is only a cash cow for the management group that runs my resort. The 15K investment was a BIG mistake and I don't even want to burden my heirs with ownership. This was a self-inflicted waste.

 

[qb_bc]

The answer depends upon the resort and their attitude.

In the best, the resort may accept a deedback where, if your maintenance fees are up to date, they will accept your title and end the relationship.

In the worst, the resort can submit the unpaid maintenance fees to a collection agency and hammer your credit rating.

Have you contacted the resort to see what their attitude is? To avoid all of the issues they may have a good attitude and want to give you some help. But as many people are looking to abandon their ownership, resort managements are hard hit and some are not being kind to anything that reduces maintenance fees.

The other option to consider is giving the ownership away, and even offering to pay the resort transfer fee.

There is a lot of discussion on the forums on these topics.

 

[Passepartout]

The consequences are ruined credit, getting hounded by bill collectors, high interest on any loans you have out and inability to get more at favorable rates.

Best, if your TS is paid for and MF is current would be to at least attempt to give it away. Or sell it which is less likely. Read the 'How to give away your Timeshare' sticky, above in this forum.

Some resorts will accept a deed back, but they have to give permission, you cannot unilaterally just send them a quitclaim.

Best wishes.

Jim