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Splitting up a lockoff permanently

bzzybee13

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Hi all. I have been trying to offload my brother's Patriots Place 2BR lockoff for 2 years...I can't even give it away! They finally caved today and "sweetened the pot" so to speak by actually offering cash for someone to take it. I was wondering if there is anything else to be done...specifically, will Wyndham take a 2BR lockoff week and permanently split it into a studio week and a 1BR week? They would still get the same amount in maintenance fees so I don't see a downside for them, and in my thinking it may be easier to sell that way. Does anyone know if this is possible?

Thanks,
Devorah
 

rrlongwell

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Hi all. I have been trying to offload my brother's Patriots Place 2BR lockoff for 2 years...I can't even give it away! They finally caved today and "sweetened the pot" so to speak by actually offering cash for someone to take it. I was wondering if there is anything else to be done...specifically, will Wyndham take a 2BR lockoff week and permanently split it into a studio week and a 1BR week? They would still get the same amount in maintenance fees so I don't see a downside for them, and in my thinking it may be easier to sell that way. Does anyone know if this is possible?

Thanks,
Devorah

I would suggest contacting an attorney with a copy of the actual deed to see if Wyndham has a choise in the matter. Then contact Wynhdam Legal to determine whether they would or not. Some of the answer may be in the type of deed and its status. Is this a fixed week? If so, it could be possable. If a converted week, it probably would have to be unconverted from points with the loss of value that would entail. What week number is the underlying week? If it is a high season week, it might have a chance, if not, then I do not think the division would help anything.
 
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AwayWeGo

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[triennial - points]
Get Out The Condo Documents & See What They Say About Subdividing & Combining.

Does anyone know if this is possible?
Master Association Documents & Public Offering Statements of timeshare developments sometimes or usually contain language saying that the units of ownership may not be combined nor further subdivided -- meaning that the ones sold as 2BRs have to remain 2BRs even if they're lock-offs.

Same language prevents converting every-year units to EOYs & EEYs & prohibits adding alternate-year units together to make every-year units.

In short, the way the units are deeded originally is typically the way they have to stay forevermore, amen.

Have a look at the condo documents for your timeshare resort & see what those say about it.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

bzzybee13

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I would suggest contacting an attorney with a copy of the actual deed to see if Wyndham has a choise in the matter. Then contact Wynhdam Legal to determine whether they would or not. Some of the answer may be in the type of deed and its status. Is this a fixed week? If so, it could be possable. If a converted week, it probably would have to be unconverted from points with the loss of value that would entail. What week number is the underlying week? If it is a high season week, it might have a chance, if not, then I do not think the division would help anything.

Thanks for the reply! It's a fixed week 39. It's Wyndham "high" season, I think that's red. The deed doesn't say one way or the other about splitting it up.
 

timeos2

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It would cost you far more in legal fees to find out if it can be split - and you'd still have to find not one but two takers - than you would pay for someone to take it as is. It isn't likely it could be split by you as there is usually language somewhere in the documents to prevent such a move.
 

AwayWeGo

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[triennial - points]
The Deed Isn't Where It Says.

The deed doesn't say one way or the other about splitting it up.
Timeshare deeds usually incorporate the official condo documents by reference rather than including a separate multi-page copy with each individual deed.

So even if the deed to your unit is mum on the subject, there may well be some pertinent language that applies somewhere in the condo documents on file down at the courthouse or with the county registrar. That's where you'll need to look.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

LLW

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Hi all. I have been trying to offload my brother's Patriots Place 2BR lockoff for 2 years...I can't even give it away! They finally caved today and "sweetened the pot" so to speak by actually offering cash for someone to take it. I was wondering if there is anything else to be done...specifically, will Wyndham take a 2BR lockoff week and permanently split it into a studio week and a 1BR week? They would still get the same amount in maintenance fees so I don't see a downside for them, and in my thinking it may be easier to sell that way. Does anyone know if this is possible?
Thanks,
Devorah


If they have to pay to get rid of it, splitting it would mean making 2 payments instead of 1. Besides, 2BRs are much easier to give away than a studio or 1BR.
 
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