What are my options to dump the deed/ownership on a timeshareand get out of the past unpaid maintenance fees?
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What are my options to dump the deed/ownership on a timeshareand get out of the past unpaid maintenance fees?
We have been behind on the ever increasing annual maintenance fees on our timeshare. We paid it off years ago but have unpaid fees on it for years too.
Asked on December 14, 2011 under Real Estate Law, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Many people who own time shares in these economic times are more and more dissatisfied with owning time shares and the ever mounting fees to keep the time shares. I have suggested that those who no longer wish to keep the time shares and who cannot sell them on the open market consider transferring title to them by way if a quit claim to charitable organizations.
The charitable organizations might be able to service the fees for maintenance but can auction off the time share's use to derive income from it. The former owner of the time share could end up getting a charitable deduction for tax purposes. I suggest that you consult with an attorney that practices tax law.
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