What happens if I walk away from my Timeshare?

[Caña]

I have owned a timeshare at Orange Lake Country Club, for almost 10 years. I no longer want to continue with this. I am on the weeks system and I object to having to pay more to change to a points system, which effectively means I have less choice in the destinations I wish to visit.

It has come to the point where I am paying more in maintenance fees and exchange fees than it would cost me to purchase a holiday through a travel agent which would also include flights.

How do I walk away from my timeshare.
What are the consequences if I just refuse to pay the maintenance.
When I asked last time I was in Florida I was told I because I am not a US citizen I would be refused entry to the USA (seems a bit harsh).

I would appreciate comments from anyone who has been there, done that and survived.

Thanks

 

[DeniseM]

You have a contractual agreement to pay the maintenance fees as long as you own the timeshare. If you default on it, it just puts an extra burden on the other timeshare owners who are paying their dues. The owners association will then have to assume your unpaid maintenance fees - that seems a bit harsh.

 

[AwayWeGo]

Responsible Owners Don't Just Walk, Foreign Or Domestic.

What are the consequences if I just refuse to pay the maintenance.

Click here for an idea of what can happen.

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

 

[Caña]

OK, maybe I didn´t word that as well as I could have.

I would certainly not just disappear but would inform Orange Lake that I not longer wanted the week that I have and ask them to take it back - handing over the deeds etc that I have and they would then be free to resell as they see fit.

So now my question would be does anyone know if Orange Lake will accept the week back?

 

[Numismatist]

There are places that will buy it for a dollar. That seems better than walking away. At least you'll have a dollar.

 

[Stricky]

I am not sure of their policy so hopefully someone else will chime in but have you considered listing it here? Click on marketplace at the top and list it for $1 if you really want to get rid of it. I would imagine someone will snatch it up.

 

[falmouth3]

So now my question would be does anyone know if Orange Lake will accept the week back?

The easiest way to find this out would be to call them.

Sue

 

[theo]

ASK them...but NOT by phone!

....would inform Orange Lake that I not longer wanted the week that I have and ask them to take it back - handing over the deeds etc that I have and they would then be free to resell as they see fit.

So now my question would be does anyone know if Orange Lake will accept the week back?

No disrespect intended, but this is a question more appropriately asked directly of the resort. Don't call --- write. No one here knows your week, building, unit, or account status (or state of mind of OL management).

I would suggest submitting (in writing) an offer to hand over "deed in lieu of foreclosure". Don't have phone conversations with clueless and disinterested desk clerks. Submit your request / offer in writing, ATTN: legal dept., enclosing a photocopy of your deed and request a written response. Only then will you obtain a definitive answer. Any input you get here on TUG, however well intentioned, will just be mere speculation. You need more and better than speculation and blind guesses; go directly to the actual decision makers. Good luck.

 

[e.bram]

I fyou have no assets in the US, what can they do. Not much. The state dept would not get involved in aiding the collection a civil debt and surely not impede tour travel to the USA.
Let the TS worry about the lack of your m/fs since the allowed the points conversion that devalued your TS by limiting your ability to get a desired reervation by gining priority to their points owners.
I have similar situation, but will require a more complicated solution. I will have to move the TS into a limited liability entity and let it go belly up(let the HOA try to collect).

 

[carolcorso]

did you move your TS into a limited liability entity? If so, did it work? If so, how do you
do it?

 

[theo]

did you move your TS into a limited liability entity? If so, did it work? If so, how do you
do it?

Please note that the semi-coherent statement about which you are inquiring was actually posted 8.5 years ago.

Personally, I thought back then (and I still think today) that a belated transfer to a LLC was a weak and deficient plan from its' inception, but that's just my own personal viewpoint, not proffered or intended as a definitive legal opinion.

 

[pedro47]

This another guest reopening a subject/thread that have been for over 8.5 years.