VP Transfer services,LLC advertises in TimeSharing Today. On the phone it claims that it will sell a timeshare through the following process. You send a photocopy of your deed; a request to transfer the property to Resort Holding your name, address and phone number. No money is required at this time. After several weeks a document transferring the property comes in the mail with a closing statement and a bill for $489.50. Only then do you pay. That is the first time a written document appears. I could not find them on the INternet. They claim the transfer gets me out from under the responsibility for the maintenance fee. Is this a legitimate business? Can I rely on the Property Transfer document? What risks, if any, would I be taking by sending a copy of the deed?
Hello. My name is XXXX XXX I will be glad to help you.
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This definitely sounds like many scams that are out there on the internet designed to take advantage of desperate timeshare owners.What this company is offering is for you to transfer the title to the timeshare back to the timeshare company by executing a Quitclaim deed. However the timeshare company has to accept the timeshare back and agree to the transfer. Simply executing and recording a quitclaim deed will not release you from any liability associated with the timeshare.I would strongly suggest that you stay away from this type of companies which are offering "quick fix" of the timeshare obligations, while in fact they will just take your money and file a worthless form.If you are satisfied with my answer, I would appreciate if you would click on the accept button. Please keep in mind if you already made a deposit or on a monthly subscription plan you will not incur any additional charges, but I will only be compensated for my time and effort only if you click on ACCEPT. Bonus and Positive Feedback are always appreciated. Thank you and good luck
The company representative said that the property would be transferred not to the timeshare company, but rather to another company by the name of Resort Holdings. Thus, the timeshare company would have no say in accepting the timeshare back or in my transferring the ownership to Resort holdings. Would I have any remaining responsibility for the maintenance fee if another company took title to the timeshare?
Yes you would still be liable for maintenance fee and any outstanding balance. Transfer of the timeshare would have to be approved an accepted by the timeshare company in order for you to be released from liability.
If you are satisfied with my answer, I would appreciate if you would click on the accept button. Please keep in mind if you already made a deposit or on a monthly subscription plan you will not incur any additional charges, but I will only be compensated for my time and effort only if you click on ACCEPT. Bonus and Positive Feedback are always appreciated. Thank you and good luck!
Experienced Licensed Attorney / Real Estate Law Mentor
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