- Sep 18, 2012
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My opinion is that the vast majority of timeshare owners would get a windfall if they they took advantage of the one time opportunity to terminate the timeshare and sell the property to a developer.
This would work only where the governing documents give the HOA power-of-attorney to act for all owners whenever the timeshare is terminated. This is not a given.
If the HOA does not have this POA, how does one persuade all the other 1000+ owners to sell (and sign the closing documents) at the same time? How much does it cost to title search to determine all the true owners and legally serve the process? What if the true owners are deceased?
Just "sell the timeshare land and buildings and cash the check" is not as simple as it sounds.