Buyer's Remorse

[Brightngt]

What is the name of your state (only U.S. law)? SC

Several months ago, I sold my timeshare to a buyer. Two months later, the buyer has remorse and doesn't want the timeshare and wants to re-deed it back to me. I said we had a deal (through a series of emails) and I'm not interested in taking it back. The buyer said they will quit claim the timeshare back to me. I contacted the timeshare company where the property is deeded, and they said they didn't need my signature to transfer the contract back. The rep. said they are only interested in getting a new deed and the cost of the transfer payment.

The rep. said as long as they get the $100.00, they would transfer the contract to anyone. It's up to the two parties to work out the conflict legally.

Doesn't the timeshare company have a responsibility to ensure contracts are not transferred at will? (What would stop buyers and sellers from transferring contracts to anyone once they got tired of paying the maintenance fees?)

Since we are talking about a very simple contract, with no discussion of rescinding, can the buyer rescind anytime without recourse? (The buyer has been paying the maintenance fees for several months now.)

Is it worth the legal hassle or should I just accept it back knowing that the timeshare company WILL transfer it back to me with the payment of the $100.00 transfer fee?

Thanks,

Sammy

 

[tranquility]

The timeshare company does not have a duty, but any gift requires acceptance. What was the the contractual obligation on the original transfer? Did the timeshare company accept the assignment? If so, pound sand. If not, you have a problem.

 

[Brightngt]

First, the contracting of the timeshare between the buyer and myself took place by way of email. I wrote "Is it an issue that I'm asking $100.00?" Two days later the buyer wrote "$100.00 could never be an issue. I am not that unreasonable." That became our acceptance.

The timeshare company accepted the transfer per a new deed as registered by the County Register of Deeds. They required the County Register of Deeds to accept and record the new deed first.

What do you mean by pound sand?

 

[tranquility]

Timeshares tend to have a seperate agreement to pay fees. There needs to be a specific, written acceptance of the assignment of that duty to make the first person no longer liable. Accepting the transfer of the title is irrelevant. Is there a written acceptance of the assignment? If not, the original person is still liable for the fee if it is not paid. If so, "pound sand" means there is nothing the timeshare owner can do beyond security against the property.

 

[Brightngt]

I can not confirm the buyer completed a specific, written acceptance of the assignment since I do not have a copy. However, I did receive a copy of the Transfer of Ownership Acknowledgement document from the timeshare company indicating that the buyer is responsible for the recurring monthly maintenance fees and what the new fees are. It lists the contract number, amount, frequency, buyer name's, buyer's address, buyer's account number. Would this assignment have taken place between the buyer and the timeshare company without my knowledge since I'm out of the process at this stage?

 

[cyjeff]

Your best bet would be to burn an hour of a real estate attorney's time and show him the transfer documents.