Legal Question in Real Estate Law in Texas
stuck in time share
our time share is filing bankruptcy, because others have misused the maintenace fee and other monies. our maintenace fee was frozen about 5 years ago after they forced us to refinance our time share ownership, now they are increasing our fee. we have paid our share fee every year without delay,we have done everything they have asked of us, my question is how can we stop this from happening to us and how can we just get out of the whole deal, we don't use it nor do we want it, we bought into it way back in 83 or 85. after all that has gone wrong we have not used it, we seem to keep paying for it and seems like we'll have to pay for the rest of our lives.can someone help us ?
1 Answer from Attorneys
How to dump a Time-share.
FACTS: Time share filed bankruptcy; maintenace fee was frozen 5 years ago; now fee is increasing; have paid our fee every year; we don't use it nor do we want it; bought it in 83 or 85; keep paying for it and seems like we'll have to pay for the rest of our lives.
Q. How can we stop this? How can we get out of the whole deal? Can someone help us?
A. Yes, in Fla. you can help yourself. Quit Claim your week back to the Time-Share Corp. [or to anyone foolish enough to take it.] Record the deed and let them collect from themselves.
As long as it is in your name(s), you are responsible for maintenance fees and other costs whether you use it or not. If you don't pay, then they will foreclose and put your unit week up for sale to pay your share. If the sale doesn't cover your share, then they could come after you individually. So convey it to the Time-Share and be done with it.
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