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LawTalk
LawTalk, Attorney
Category: Real Estate Law
Satisfied Customers: 37816
Experience:  I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
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We purchased this time share in 2015 and want to get out of

Customer Question

We purchased this time share in 2015 and want to get out of the deal with all the negative press and problems. We paid $9995.00 and feel we were ripped off. We live in MA and need help. Can you help us?
JA: Have you thoroughly reviewed the contract?
Customer:***@******.*** tel(###) ###-####
JA: Have you talked to a lawyer yet?
Customer: No
JA: Anything else you think the lawyer should know?
Customer: That is about all.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  LawTalk replied 1 year ago.

Good afternoon,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

The sad reality is that you don't really have any options. If you default on the contract, the association can sue you for the annual maintenance fees as they come due, and if there is still a mortgage on the timeshare, the mortgage holder can sue you for breach of the contract. The lenders and the timeshare associations don't want the properties because they simply cannot be sold in many instances----even some fully paid for timeshares can't be given away.

There are hundreds, if not thousands, of companies who promise to sell your timeshare for you and for the most part they are rip-offs----don't throw good money after bad. They may make guarantees of all sorts---promising to sell, or even accept your timeshare if you only sign over the deed---and then they do not transfer the deed leaving you legally liable for the maintenance fees for a property you no longer even own---or promise refunds that you eventually have to sue them for---and spending thousands in legal fees chasing the thousands that they promised would be refunded. I hear these exact horror stories from different timeshare owners almost every single week.

Timeshares are almost impossible to sell these days---even if they are fully paid for. This is because it is generally less expensive to rent a timeshare for a week than it is to pay the annual maintenance fee for that week. I know,as I own a time share, but I generally just rent from other owners when I go to places other than my own unit.

You can try selling it on eBay. You won't likely get anything for it, but getting rid of it may be enough. Many timeshares are available on eBay for just1 cent, because they are so difficult to get rid of.

You might also consider approaching a church or other non-profit and perhaps they could raffle it off or place it in a silent auction, and you could claim the donation as a tax write-off.

I understand that you may be disappointed by the Answer you received, as it was not particularly favorable to your situation. Had I been able to provide an Answer which might have given you a successful legal outcome, it would have been my pleasure to do so.

If you have additional questions, you may of course reply back to me and I will be happy to continue to assist you further until your questions have been answered to your satisfaction.

Would you please take a moment to positively rate my service to you based on the understanding of the law I provided by clicking on the rating stars---three stars or more. It is that easy. That is the way I am compensated for having helped you.

Thank you in advance. I wish you the best in your future,

Doug

Expert:  LawTalk replied 1 year ago.

Good afternoon,

Do you have any additional questions that you would like me to address for you?

In case you would like a phone call to further discuss these issues you have raised, I will make that offer to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.

As I have provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you? I am not compensated until you rate me.

Thanks in advance,

Doug