Have Legal Questions? Ask a Lawyer Now.
I am a lawyer registered in New York (XXXXXX). My friends and clients are XXXXXXX. 13 years ago, The XXXX bought a one week time share in Vacation Village at Weston, Fort Lauderdale, FL. They were represented by the resort when they bought the time share and when they obtained a mortgage from the resort. The mortgage is fully paid as is all their obligations to the resort. For more than 1 year now they have tried to sell, rent, give away the time share unsuccessfully. Under the contract they signed with the resort, without their own lawyer, the resort has no obligation to help them sell the time share or take it back without any compensation. They own a home (modest) in Glen Cove and need the $900 dollar yearly maintenance fee which covers the time share's taxes and insurance as well as upkeep for the college education of their children. Is there some way they can be freed of this obligation? Please email me as soon as is possible. Thank you. XXXXX
Thanks for your question and good morning.My sympathy here for their situation and dilemma.
Here they can contact the timeshare Vacation Village and ask about a deed in lieu.In that situation the lender agrees to take it back and not pursue deficiency.It is also possible to donate timeshares.This is a viable option to avoiding foreclosure.
Donate for a cause is one such organization.
The problem here is that if they foreclose on this in Florida it is a judicial foreclosure and if there are any lawyer fees, maintenance fees, court costs, etc they will have a judgment against them in Florida which would then be enforceable here out of state.So either a deed in lieu here or a donation would be better options to get this out of their name.
I would encourage them to look into a deed in lieu with the time share and also donation as lesser options to avoid foreclosure.As you probably are aware timeshare reselling in our present economy has become really difficult.
It has been my pleasure to assist you today.
If you have more follow up please let me know.Thanks again.
I hope that you will be so kind as to leave a positive rating. If you do have any additional questions about my answer please click the "Continue Conversation Link" so I can provide you with a fully satisfactory answer. Please be aware that any rating of 1 or 2 is reflected as a negative rating and I receive no credit for my answers.
This communication does not establish an attorney client relationship here.Information provided is not legal advice. Rather it is simply general information.
Here is a second timeshare donation group and they look like the best choice donation wise.
I wish them good luck with either a deed in lieu or donation of the timeshare to resolve this matter.Thanks again.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).