How Can I Quit A Timeshare

[snewmansallysda]

What is the name of your state? Virginia
I bought a timeshare, Club Land'or in the Bahamas about 20 years ago. I paid the mortgage off years ago, but the maintenace fees of course continue. I didn't read the contract carefully when I signed it and missed the clause in the contract that allows the timeshare to increase the maintenance fee 8% a year. Well now, the $200 maintenance fee is over $800 a year. I am a resident of the state of Virginia and the timeshare ownership is in Virginia. I called last year to ask what would happen if I didn't pay the maintenance fee. They said they would come after me for the maintenance fee. I asked them if I had to declare bankruptcy to get out of the maintenance fee. They said they hoped that I didn't have to declare bankruptcy but that there was no way I can get out of paying the maintenance fee. Any thoughts? I have heard of using a "Quit Claim" deed - would something like that work? Help - the $800 fee is going up another 8%!!

 

[daju]

Is it possible to just sell it?

 

[HomeGuru]

Now that's an idea.

 

[snewmansallysda]

Would you like to buy it? Seriously, timeshares are very difficult to sell. There are a number of Club Land'or properties out there for sale. The traditional real estate sales action only gets a commission if they sell the property. Timeshare Real Estate Agents want you to pay the commission in advance with no guarantees that they will sell it or even do anything.

There is a transfer fee as well. I haven't used the property in years. I trade it with RCI for something else, but the value of the property to RCI is not great, so I can't get anywhere warm in the winter. I have to wait until around April to go somewhere nice in Mexico. The fees to RCI add up as well. Close to $200 for an international exchange, membership fee of $90 to RCI, etc and then you have the $800 to Club Land'or and you still have to pay for the air fare to get to the timeshare. To top it off a week at Club Land'or is rented by them for only $205 a night so members don't get much of an advantage. Very soon with the 8% increases, I will be paying more than the public to use a place that I supposedly own!!

That is why, I just want to give it back to them and walk away. I paid the purchase price off a long time ago but the maintenance fee is forever it seems.

Any thoughts out there. I guess it's a Quit Claim Deed not a Quick Claim Deed?? Could I use something like that in Virginia to just give my ownership back?

Thanks,

Steve

 

[HomeGuru]

Would you like to buy it? Seriously, timeshares are very difficult to sell. There are a number of Club Land'or properties out there for sale. The traditional real estate sales action only gets a commission if they sell the property. Timeshare Real Estate Agents want you to pay the commission in advance with no guarantees that they will sell it or even do anything.

There is a transfer fee as well. I haven't used the property in years. I trade it with RCI for something else, but the value of the property to RCI is not great, so I can't get anywhere warm in the winter. I have to wait until around April to go somewhere nice in Mexico. The fees to RCI add up as well. Close to $200 for an international exchange, membership fee of $90 to RCI, etc and then you have the $800 to Club Land'or and you still have to pay for the air fare to get to the timeshare. To top it off a week at Club Land'or is rented by them for only $205 a night so members don't get much of an advantage. Very soon with the 8% increases, I will be paying more than the public to use a place that I supposedly own!!

That is why, I just want to give it back to them and walk away. I paid the purchase price off a long time ago but the maintenance fee is forever it seems.

Any thoughts out there. I guess it's a Quit Claim Deed not a Quick Claim Deed?? Could I use something like that in Virginia to just give my ownership back?

Thanks,

Steve

**A: your deed ideas will not work.

 

[iamunique]

In the Same Boat

Steve,

I tried to send you an email, but a message stated that your profile wouldn't allow it. I'm very new to this board, but I've been burdened with Land'Or for as long as you. We're probably neighbors. Would you try to send me an email as I have been doing some research and wish to explore options. Anyway, misery loves company and I'm not yet comfortable on this board.

Bill
[email protected]

Would you like to buy it? Seriously, timeshares are very difficult to sell. There are a number of Club Land'or properties out there for sale. The traditional real estate sales action only gets a commission if they sell the property. Timeshare Real Estate Agents want you to pay the commission in advance with no guarantees that they will sell it or even do anything.

There is a transfer fee as well. I haven't used the property in years. I trade it with RCI for something else, but the value of the property to RCI is not great, so I can't get anywhere warm in the winter. I have to wait until around April to go somewhere nice in Mexico. The fees to RCI add up as well. Close to $200 for an international exchange, membership fee of $90 to RCI, etc and then you have the $800 to Club Land'or and you still have to pay for the air fare to get to the timeshare. To top it off a week at Club Land'or is rented by them for only $205 a night so members don't get much of an advantage. Very soon with the 8% increases, I will be paying more than the public to use a place that I supposedly own!!

That is why, I just want to give it back to them and walk away. I paid the purchase price off a long time ago but the maintenance fee is forever it seems.

Any thoughts out there. I guess it's a Quit Claim Deed not a Quick Claim Deed?? Could I use something like that in Virginia to just give my ownership back?

Thanks,

Steve

 

[HomeGuru]

Steve,

Anyway, misery loves company and I'm not yet comfortable on this board.

**A: well, we must be relatives since I'm not yet comfortable with this board either.

 

[BelizeBreeze]

**A: well, we must be relatives since I'm not yet comfortable with this board either.

Then try laying on the other side of the keyboard

 

[HomeGuru]

Then try laying on the other side of the keyboard

**A: I tried that already and everytime I did so my mouse kept on making these squeaking noises.

 

[BelizeBreeze]

**A: I tried that already and everytime I did so my mouse kept on making these squeaking noises.

You should REALLY quit eating Jet's Texas Stew then

 

[HomeGuru]

It's not really the stew.