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I joined “Just Answer” about a year ago and used your service

twice. Both times your...
I joined “Just Answer” about a year ago and used your service twice. Both times your experts were both knowledgeable and sincere in their efforts to point me in the right direction. This next question is related to some help I received last month in the fraud category regarding my timeshare. It was a two part question. The fraud expert answered the first question and recommended I direct the second question to the real estate category:

In 2005 I purchased a 2-bed 2-bath timeshare at the Villas at Polo Towers across street from the MGM Grand in Las Vegas. This timeshare is operated by Diamond Resorts International. (We stopped using it in 2008; the ownership fees are over $1,500.00 year.) After three unsuccessful years trying to sell, I’m right now looking into surrendering it to the resort. Over-the-phone the resort representative said in order to surrender the timeshare I need to complete a conveyance of title into my name. The steps to accomplish this were listed as:

• Pay a closing cost fee of $560.00.
• Execute a grant deed application (included with their conveyance forms).
• Obtain a title insurance policy (which is automatic when the grant deed application is submitted).

The grant deed application states that the County will record the grant deed and mail it back to me with the title insurance policy. The resort representative stated once they receive the grant deed application and closing cost payment, Diamond Resorts will send me an “Authorization to Surrender Timeshare” document. At that time I will be instructed to sign the document, enclose a payment for $250.00, and send it back to the resort.

I don’t mind paying these fees, but my question is: if title was never vested in my name, why is it necessary to take title now, especially when considering that my intention is to not own the timeshare? If I complete the conveyance process, can the timeshare subsequently refuse my surrender and not accept title back? Is this process normal in the timeshare industry? My knowledge of the timeshare industry is extremely limited, but I have heard it’s a scam-ridden scene and, therefore, can’t help wonder if this could be a ploy to perpetuate indefinitely my obligation to pay the annual fees.
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Answered in 20 minutes by:
5/3/2013
N Cal Attorney
Category: Real Estate Law
Satisfied Customers: 9,531
Experience: Since 1983
Verified
You asked:
if title was never vested in my name, why is it necessary to take title now

It should not be necessary, you could just sign a document terminating all agreements and a quit claim deed conveying whatever title or interest you may have back to the operator. However, I am not in a position to review all the documents you signed, and it possible that they are correct, depending on what agreements you signed.

I suggest having a local attorney review all the time share documents and agreements and then advise you as to your rights. You can get a free consultation from some of the local real estate lawyers listed here.

Please follow up on this with a local attorney. No one can advise you as to your rights without having read all the documents.

I hope this information is helpful.
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Customer reply replied 4 years ago

The quit claim deed idea makes sense to me. I think I'll pose that idea to the Diamond resorts operations office and see what they say. Thank you for your review.

I just do not trust the time share company to be honest with you, so I still suggest having a local attorney review the documents if the company refuses to accept a quit claim deed.
N Cal Attorney
Category: Real Estate Law
Satisfied Customers: 9,531
Experience: Since 1983
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