Legal Question in Real Estate Law in Rhode Island
Timeshare Surrender
I purchased a Timeshare property Longwharf Resort in Newport Ri. in 2001. The timeshare is paid in full ($12,000) and I have been paying yearly Maintenance fees ($795) until this year. I can no longer addord to keep it. I have been trying to sell it and even donate it to a charity for the past three years and no one wants it. All I have done is lost even more money to the timeshare selling websites. The timeshare has changed ownership 3 times since I purchased it and is currently owned by Wyndham Resorts. I contacted them regarding my problem and was instructed to contact the ownership department regarding surrendering my timeshare. I contacted the department and after reviewing my case said they could not help me and that I should try contacting the board of directors of the resort itself. I contacted them when I received my yearly maintenance bill and requested to surrender my ownership rights without any compensation to be relieved of the maintenance payment responsibility. they responded by refusing and threatening to send me to a collection agency!! I am out of options and out of patience!! I just want to be rid of the Timeshare and will end up delcaring Bankruptcy if that is my last resort. Please help!!
1 Answer from Attorneys
Re: Timeshare Surrender
It sounds like you need to transfer ownership of the timeshare to another party. I actually know someone who would be interested in purchasing it. Please contact me.
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