Benefit of no contract - free & clear!
We purchased a number of time shares at a county tax default auction. Most where purchased for little cash - none financed - so in short they are "free and clear" of any obligations and no mortgage "contract". The only legal document received from the county is the "Tax Deed to Purchaser of Tax Defaulted Property". Beyond that we have not signed any contract from the management company. That appears to me there's no obligation for management or HOA fees. The only fee are the county property taxes.
I'm wondering my perspective is correct or if there are other benefits I'm not seeing.
Any insight would be appreciated.
Thanks in advance,
We purchased a number of time shares at a county tax default auction. Most where purchased for little cash - none financed - so in short they are "free and clear" of any obligations and no mortgage "contract". The only legal document received from the county is the "Tax Deed to Purchaser of Tax Defaulted Property". Beyond that we have not signed any contract from the management company. That appears to me there's no obligation for management or HOA fees. The only fee are the county property taxes.
I'm wondering my perspective is correct or if there are other benefits I'm not seeing.
Any insight would be appreciated.
Thanks in advance,