Legal Question in Real Estate Law in Nevada

Hello

There are a number of companies, in the US especially, that say if you list your timeshare with them, they will sell it for you. I have founf through experience that they are scams. They take your money up front and supposedly put your name on a list and thats it.

My question is, there are also a number of outfits, TIMESHARE ADVOCACY" companies, that say if you sign a contract with them, they will get you out of your timeshare for good and legally, so the question is, can this be done or are they more scam artists? By the way the fee is much more than the "resale" outfits want.

My timeshare is in Las Vegas and I want out of it but as I have found out there is no such thing as a resale market. Do you have any other ideas on how to get out of this?

I was told that if I simply just stop paying maintenance fees that after three years they will forclose and take it back. Is this true? I was told it would probably affect my credit rating. I am 60 years old so my credit at this point is not as important to me as it was when I was younger. I don't plan on making any large purchases anymore.

Thanks

P.S. I live in Ontario Canada


Asked on 11/20/10, 5:09 am

1 Answer from Attorneys
Jonathan Reed Reed & Mansfield

One thing you might try is to give the timeshare to a charity if it you are current on fees and assessments. I have a client who is giving a timeshare to Project Philanthropy, Inc., dba Donate for a Cause. However, this transaction is not complete so I can't tell you how is working out for my client.

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Answered on 11/25/10, 10:00 am


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