What could happen if I just walk away?

[caesarv]

This involves a timeshare I own in Colorado, however I live in California.
The vacation timeshare I own (1 week) has lost its Marriotts affiliation, and on top of that, has increased its maintenance fees dramatically. I don't want to waste any more money. I own this outright with no mortgage. I can't sell it or even give it away; similar timeshares failed to sell on ebay even though the asking price was only $1.

What would likely happen if I just refuse to pay the fees. I don't mind losing the timeshare, but I don't want to get stuck with any penalties, lawsuits, etc. Can they come after me? What are my legal responsibilities and their legal rights?

Thanks,
cv

[lcannister]

Your answers are all within the contracts you signed.

They can and will probably come after you in a court of law, that is why people say if you inherit a time share run the other way.

At least a few years ago thos contracts were written so even if you DID sell it you were still on the line if the new owners failed to pay the dues etc.

The last thing you want to do is HIRE one of the "we will sell your condo" people!

Where in Colorado?

[caesarv]

The timeshare is in Vail. I don't think it is totally worthless, but I may be better off just donating it to a charity....at least then I can claim a deduction. However, in order to donate it, I must have all fees paid up. Alternately, I guess I can rent it. I looked at the contract, but could not make much sense of it.

[tranquility]

First, most charities don't accept liabilities as "donations". Second, if you do plan on giving to charity, you better do it before the end of the year. Finally, you will probably need an appraisal to get a deduction of any real amount.

Timeshares are millstones around your neck. While I have seen some very few people enjoy their "investment", just about every story I hear comes back just like yours. Sorry. With the secondary market practically giving away timeshares, I am astonished anyone buys one from the company any more. My goodness, was that free shrimp ****tail they gave you at the sales meeting really that good?

[caesarv]

Actually, I am generally satisfied with the timeshare idea. I was not stupid enough to buy from the developer at their grossly overly inflated prices. and I would have kept this timeshare had it remained in the Marriotts system. In fact, I just bought another one via eBay right next door that is in the Marriotts system and will remain so for at least 5 more years (under contract). This timeshare pays for itself in about 3 years and "forces" us to take a much needed 1-week vacation each year.

But I agree that many timeshares are a millstone around one's neck. The one I am trying to get rid of would have been fine, but I did not realize a timeshare could lose its Marriotts affiliation....a painful lesson to learn; but fortunately not too expensive.

[lcannister]

I suggest you start having someone to look over contracts BEFORE you sign them if you do not know or can't figure out what it is obligating you to.

If you have a timeshare in Vail and can not "give it away" then you have proven the points made about the timeshare industry. Or perhaps just your time of year usage.

The Marriott name is no better or worse than the rest of the industry when you want to "SELL" them.

Good luck.