Legal Question in Credit and Debt Law in Texas

Payment on a timeshare property

we purchased a time share in Mexico in 1996, paid $1500 [downpayment and monthly payments] stopped payments after some months. Never used the time share and never heard from the company. Last week receive a letter demanding full+ payment from a collection service. Yes we signed a contract. No we don't want the timeshare. Can we get out of the contract? If we have to pay then do we still own the time share- it seems implied by their letter we don't?

Thank You--


Asked on 5/24/00, 7:32 am

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Payment on a timeshare property

The language of default in your contract will determine whether or not you would own a timeshare. You inquiry doesn't make clear what you were buying -- probably a right to occupy the unit for the period, not a fee simple title to land. Since you signed a contract to make payments, you are probably responsible for all principal, interest, costs and expenses. If you want me to assist you in this matter, please call.

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Answered on 7/05/00, 1:57 pm


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