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I own a Timeshare that I bought in 1995 with my late husband…

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I own a Timeshare...

I own a Timeshare that I bought in 1995 with my late husband (died 2008). We never had children and I am now retired. I want out of the timeshare I own. It is the Powhatan Plantation run by Sunterra Corp when we bought but was taken over by the Diamond International Resorts in 2008. I was told that if their Executive board does not approve my application for Loss Mitigation, I would have to keep the Timeshare because I bought the right to use a block of time for Life. We were not told at the time that we bought that we would never be able to sell it. Is it true that I would have to keep this timeshare. It is completely paid for but I can no longer afford the yearly increasing maintenance fee.

Lawyer's Assistant: Have you thoroughly reviewed the contract?

I have since moved from t he home I shared with my husband. i would need to find it. But if is there, I would have to continue.

Lawyer's Assistant: Has any paperwork been filed?

No, I just literally got the information as to how to go about being released.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Well, I am just trying to pay down my debts, and this increasing yearly fee is causing a hardship. I actually have two other timeshares. The first I bought with a girlfriend when we were young in the 1980's. both of our family's used them. She has since passed away. My husband and I bought the 3rd one in 2007. these are both in FL where I now live. I don't need any of them now. But the one with Diamond resorts is the most expensive, so trying to get rid of that first.

Submitted: 7 months ago.Category: Legal
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12/4/2017
Lawyer: JustAnswer, Arbitrator replied 7 months ago
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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).

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