So, you’ve purchased a timeshare and determined it’s just not suiting you anymore. Maybe you don’t like the area as much as you thought you would. Maybe the yearly maintenance fees are straining your budget. Maybe you never really wanted the property in the first place. You start thinking: “Can I just give my timeshare back?” It’s a good question and one that we at Step Zero get time and time again. Most often, when people ask this question, they want to know if they can file a quitclaim deed. A quitclaim deed is a legal document that transfers an owner’s property rights to someone else with no associated exchange of funds. It’s most commonly used during divorce proceedings, when a husband or wife wants to relinquish his or her part of a shared property and move on quickly. Technically, it’s perfectly legal to sign property over to someone else. In the case of timeshare property, though, it’s not so simple because the management company or resort might not want the property back. For quitclaims to work, both parties have to be willing participants. You currently pay the maintenance fees and all expenses for the upkeep of the property. If the resort takes your property back, it now has to cover those annual costs itself. That’s not often in the resort’s best interest. Of course, the resort in question may be in high demand with a low inventory, making it profitable for management to take control of your property and resell it. But don’t count on it. And don’t try to leverage your offer by saying you’ll just default on your fees if the resort doesn’t accept it. There’s no sense in angering the resort. It will simply force them to foreclose on you if you follow through on your […]
CANCEL TIMESHARE CONTRACTS!
CAN YOU ACTUALLY GET OUT OF A TIMESHARE LEGALLY?
Yes! We are able to transfer your completely paid off timeshare out of your name with no further obligation. Call to see how!
Florida passes timeshare law to protect consumers Florida Governor Rick Scott has signed a new timeshare law (the Timeshare Resale Accountability Act) giving consumers better protection against these scams which goes into effective on July 1, 2012. The Timeshare Resale Accountability Act includes the following provisions: A timeshare resale advertiser may not misrepresent a pre-existing interest in the owner’s timeshare. A timeshare resale advertiser may not mislead a customer as to the success rate of the advertiser’s sales. A timeshare resale advertiser may not provide brokerage or direct sale services. A timeshare resale advertiser must honor a cancellation request made within 7 days following a signed agreement. A timeshare resale advertiser must provide a full refund to a timeshare owner within 20 days of a valid cancellation request. A timeshare resale advertiser must not collect any payment or engage in any resale advertising activities until the timeshare owner delivers a signed written agreement for the services. A timeshare resale advertiser must also provide a full disclosure statement printed in bold type, with no smaller than a 12-point font, and printed immediately preceding the space provided for the timeshare owner’s signature. A timeshare advertising agreement must be put in writing. A company who violates these provisions has committed a violation of the Unfair and Deceptive Trade Practices Act with a penalty not to exceed $15,000 per violation.