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Letting timeshare foreclose

Grammarhero

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For the half-dozen I've transferred by QCD, no contract or purchase agreement accepted and recorded, . . . . . ???????

Or, for that matter, the nine-or-so I acquired that way.

can is not a sufficient word

FWIW, I've run this by the guy at our legacy resort, where most of the owners acquired by resale . . .
QCD is an entirely different legal specification than resale TS contract.

In the absence of clear TS resale contract language or purchase agreement specifying such MF legal obligation, the conduct of the parties will be used to interpret such obligation. If there was even one (1) MF payment with buyer seemingly agreeing to a MF obligation, the court will likely read and enforce a MF legal obligation. If the conduct of the parties isn’t sufficiently clear as well, there Court will use industry standards, which of course require MF payments from TS resale buyers as legal obligations. @SueDonJ
 

Grammarhero

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For the half-dozen I've transferred by QCD, no contract or purchase agreement accepted and recorded, . . . . . ???????

Or, for that matter, the nine-or-so I acquired that way.

can is not a sufficient word

FWIW, I've run this by the guy at our legacy resort, where most of the owners acquired by resale . . .
Resorts can reject resale Ts purchases for any reason. If there is no Ts legal obligation, in 99 percent of cases, resorts will reject the Ts resale purchase.
 

Grammarhero

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You have to understand. Nothing about law is definitive. There are 5-4 split decisions at SCOTUS all the time. All you can advise as attorneys is what will happen 50-99 percent of the time.
 

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FWIW,

I am familiar with people who had to pay for things they did not want and told the provider, in writing, not to provide.

And a lot of other really-strange law.

The law is what the Court decides.
 

OldGuy

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:eek:Speaking of Washington, DC, it has the densest population of anywhere in the US, 10,298 people per square mile.
 

SueDonJ

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QCD is an entirely different legal specification than resale TS contract.

In the absence of clear TS resale contract language or purchase agreement specifying such MF legal obligation, the conduct of the parties will be used to interpret such obligation. If there was even one (1) MF payment with buyer seemingly agreeing to a MF obligation, the court will likely read and enforce a MF legal obligation. If the conduct of the parties isn’t sufficiently clear as well, there Court will use industry standards, which of course require MF payments from TS resale buyers as legal obligations. @SueDonJ
What does it matter, if it does, that even in the absence of specific language in the resale purchase docs between the seller and buyer, there is specific language in the components that make up the underlying docs of the original Public Offering Statement? I don't have them with me right now but the POS' for my resorts consist of hundreds of pages including a Master Deed, a Timesharing Declaration, a Management Agreement, and various other items. I know that the succeeding rights and obligations are delineated in several sections of both the Master Deed and the Timesharing Declaration, and probably in more sections that I haven't yet seen. It's hard to believe that this isn't covered in every single possible manner of transfer.
 

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The law is what the Court decides.
Now, now, understand that the court doesn't really decide the law. The court only interprets the law.

As for Washington, DC, you failed to mention that it also has one of the highest crime rates in the country. :eek:
 

Grammarhero

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What does it matter, if it does, that even in the absence of specific language in the resale purchase docs between the seller and buyer, there is specific language in the components that make up the underlying docs of the original Public Offering Statement? I don't have them with me right now but the POS' for my resorts consist of hundreds of pages including a Master Deed, a Timesharing Declaration, a Management Agreement, and various other items. I know that the succeeding rights and obligations are delineated in several sections of both the Master Deed and the Timesharing Declaration, and probably in more sections that I haven't yet seen. It's hard to believe that this isn't covered in every single possible manner of transfer.
In most Ts resale contracts or purchase agreements, Ts resale buyers agree to be bound by POS. I was considering POS to be similar authority to Ts resale contract or purchase agreement since resale buyers agree to be bound by them, but lawyers often consider them different authorities.

Order of interpretive precedence is:
1) Ts resale contract or purchase agreement
2) POS or HOA docs
3) conduct of the parties
4) industry standards.
 

Grammarhero

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:eek:Speaking of Washington, DC, it has the densest population of anywhere in the US, 10,298 people per square mile.
In Dc, one out of every 12 adults is a lawyer.
 

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If you stop paying MF how would effect other TS’ you own or other properties for that matter?
 

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Now, now, understand that the court doesn't really decide the law.
The Court (judge) decides what law is every time they rule, mostly because of their personal slant on things. Thus, change of venue.
 

SueDonJ

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If you stop paying MF how would effect other TS’ you own or other properties for that matter?
It depends on whether you own within a single company or across different ones. Each system has its own rules about how defaults will impact ownerships of multiple intervals within that system. None of them, though, have the ability to enforce their rules if an owner defaults on something owned in a different system.

With respect to Marriott, including Weeks- and Points-based ownerships, there are references throughout the docs that say you must be, "a Member in Good Standing" in order to use anything you own, and that's generally defined as up-to-date on any direct-purchase financing, MF's including any Special Assessments, Club Dues, and any other assessed fees. So if you own multiple Marriotts and want to offload one or more but keep using the others, defaulting on loans/MF's isn't the smartest course of action.

Owners in the other systems can speak to their specific rules but I'd be surprised if any of them differ substantially from Marriott's.
 

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If you stop paying MF how would effect other TS’ you own or other properties for that matter?
Why would it, unless a lien was placed on other property you own, which I know at least one association that did/does?
- - - - -
The guy at my resort went with prior usage, so, what if it has not been used or the fee paid by the new owner?

In any event, it does not sound like they have any problem foreclosing. Of course, and I may be wrong, when they use non-judicial foreclosure, which they do, they cannot claim the unpaid funds.
 

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The Court (judge) decides what law is every time they rule, mostly because of their personal slant on things. Thus, change of venue.
Based on previous debates, let's keep this short.

I don't know how we got to "change of venue" but, nonetheless.

The Judge, in most cases, decides on a motion to change venue and no, the court isn't deciding a law and no, it's not based on any law. Keep in mind that change of venue itself isn’t considered a law. It is however, related to an individual's right under the constitution to a fair trial. And no, change of venue is not a constitutional right but, it's a privilege.
 

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I don't know how we got to "change of venue" but, nonetheless.
It happens all that time here . . . well, here. (play the banjo music)

The judges wear their predispositions on their shirtsleeves. Attorneys hope and pray for favorable judges.

Yeah, wish it wasn't that way, but it is.

What was this thread about?

Oh yeah, letting a timeshare foreclose.

Short enough?
 

Grammarhero

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The Court (judge) decides what law is every time they rule, mostly because of their personal slant on things. Thus, change of venue.
Change of venue refers to changing where the lawsuit will be decided. Judges can change the venue from DC to NY. Change of venue does not refer to a judge’s judicial philosophy.
 

Grammarhero

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Based on previous debates, let's keep this short.

I don't know how we got to "change of venue" but, nonetheless.

The Judge, in most cases, decides on a motion to change venue and no, the court isn't deciding a law and no, it's not based on any law. Keep in mind that change of venue itself isn’t considered a law. It is however, related to an individual's right under the constitution to a fair trial. And no, change of venue is not a constitutional right but, it's a privilege.
I think @OldGuy is mistakenly conflating change of venue (changing where a lawsuit is heard or tried) with a judge’s judicial philosophy.

Despite the judge’s own judicial philosophy, unless the Ts resale contract was not properly executed, no judge will find a resale Ts buyer is not legally obligated to pay MF. That’s almost a definitive losing legal argument that has about a 1 percent chance of winning. Advocating such an argument could affect a lawyer’s reputation.
 
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I have week 44 at Williamsburg Powhatan Resort (2 br lockoff). I purchased on Ebay in 2006 and most often have traded in to RCI for 2 weeks and vacationed elsewhere. Due to familiar obligations, children are grown, and our advancing years, we are no longer able to take advantage of yearly away vacations, and would like to lose the obligation of paying maintenance fees, etc.

I listed unit for sale on Tug for $1...no takers. I contacted Diamond Resorts Transition team, customer service, loss mitigation team, lead collector; and although they have a program to take back weeks, I do not qualify because I am not the original buyer. Even though my week was fully paid for when I bought it, and my maintenance fees are up to date. I have been persistent and call or email every month...same answer.

This past month I was advised "to let the unit go in to foreclosure. Late payment notices will be sent, just ignore them. They cannot affect your credit with maintenance fees not being paid". Does this make sense? Don't want to make a wrong move, just want out of this obligation.

Sorry for lengthy post...desperate for help. Thanks in advance.

I had one that got foreclosed on a few years ago. As far as I know it never went on my credit report. I wouldn't have cared if it did.
 

Grammarhero

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I had one that got foreclosed on a few years ago. As far as I know it never went on my credit report. I wouldn't have cared if it did.
Thanks for letting us know. The count is that out of seven (7) known foreclosure mentioned on TUG, four (4) affected a credit report.
 

Ewiike

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I have week 44 at Williamsburg Powhatan Resort (2 br lockoff). I purchased on Ebay in 2006 and most often have traded in to RCI for 2 weeks and vacationed elsewhere. Due to familiar obligations, children are grown, and our advancing years, we are no longer able to take advantage of yearly away vacations, and would like to lose the obligation of paying maintenance fees, etc.

I listed unit for sale on Tug for $1...no takers. I contacted Diamond Resorts Transition team, customer service, loss mitigation team, lead collector; and although they have a program to take back weeks, I do not qualify because I am not the original buyer. Even though my week was fully paid for when I bought it, and my maintenance fees are up to date. I have been persistent and call or email every month...same answer.

This past month I was advised "to let the unit go in to foreclosure. Late payment notices will be sent, just ignore them. They cannot affect your credit with maintenance fees not being paid". Does this make sense? Don't want to make a wrong move, just want out of this obligation.

Sorry for lengthy post...desperate for help. Thanks in advance.
Hi mommacarus. I hope you can find a solution for your problem!
I don't know about your resort policy , but a few years ago we were late with our maintenance fee( Marriott) and they put a lien on our house! They took it off when it was paid , but we still had to pay
about $200 legal fee( lawyer's or something)
Good to know.. Good luck!
 

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The presenter/ salesman in June told me to go ahead and move to CWA for $25k. I wouldn't be buying a house or car so why care about my credit score!!!! Because it would have bothered me to.leave that kind of legacy to my family. Besides my UDIs are Ff trust bought from Fairfield under trendwest but my GSL is Wyndham as it was purchased after 3006 but kept me Silver VIP for what its worth but bought before November 2012 and protected under my living trust. This is my light at the end of my tunnel at age 85. My 8 year old great wants me to keep it but his parents and uncle say no way jose. All great grands have two dogs/family and I don't like dog sitting that much.
 

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Different folks have different experiences, and I can assure you that change of venue around here is used to get favorable Courts.

&, because of the witness protection program, that's all I can say about that.

:cool:
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I have been assured that those who buy timeshares resale are governed by the original contract, which they never see. I have been assured of that both by a stranger on the Internet and a person who actually does it (forecloses TS weeks) in real life.
 
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