Getting Out of Time Share

[statsman 5470]

My parents bought a time share 30 years ago. Not a fancy Disney or Marriott one- very much a modest blue collar one with locations in central and east Texas (and Branson, of course) to use. And use it, they did. 
 
Here’s the problem. Mom passed away, Dad is 88, and he can’t get out of it. It’s not the kind anyone will buy; it’s not even the kind a charity would take as a donation. He paid some “service” $1700 to try to move it; they failed. 
 
It gets worse. My mom, 25 years ago, while they were enjoying it, put my name, and my siblings on the deed. I may have signed something; I can’t remember. 
 
Dad tried just not paying the maintenance fees. I got a registered letter that he owed $5k ($100 per month) and they would put liens against all on the deed if it’s not paid up. 
 
Dad said he is fine paying the maintenance money, and is ok paying until he dies. He says it’s on me to figure out how to get out. That’s why I’m coming to the “Help” board. Does anyone have a recommendation on an attorney who handles this sort of thing? Dad said he’ll pay; I just want to get started down a path that concludes this successfully. Most successful would be ridding us of this time share. Acceptably successful would be getting mine and my sister’s names off the deed. 

[NeverMarryAStripper 21907]

What the fuck are they going to put liens against, your interest in the time share?  They might be able to sue, but I don’t see how they can put lien on anything but the time share interest.  I’m no lawyer, but I would tell them to stick their lien up their ass.  I would do it by registered letter too, so they know you’re serious.

Edited August 10 by NeverMarryAStripper

[FartingMonk 3606]

Gasoline and a lighter

[statsman 5470]

The concern is that the lien would affect my credit score. That would be bad. 

[Gil Bang 25958]

listen to Finebaum for 30 minutes, and you will have your solution.

[Chewbacca 7779]

Can dad remove you from the deed?

That's where I would start.

[Nice Guy Eddie 13512]

10 hours ago, Gil Bang said:

listen to Finebaum for 30 minutes, and you will have your solution.

I’ve always assumed that the companies, that profess to get your out of time shares, are also run by the time share industry. Just one last way to take advantage of you on the way out. “I fought hard but they need $10k to tear up the contract. They’re willing to finance it at 10% for 10 years. Only $130/mo.

soap box: never put your kids on future debt like adding then to a timeshare. I don’t care if the salesman tells you that it’s giving your kids a forever vacation at costs from 40 years prior. That’s impossible. Buyers just assume there is some magical financial formula that’s going to keep the property up to modern expectation. 

[statsman 5470]

The original time share was “Silverleaf Resorts”. They were purchased a few years ago by “Holiday Inn Club Vacations, Inc.”

I figure Holiday Inn is a reputable name; surely there is a way out. I googled and found this website they have for getting out:

https://www.holidayinnclub.com/horizons
 
I asked my dad about that. He said he paid them $1700 to get out and they said they couldn’t find a buyer. 
 
Then I thought- maybe “Holiday Inn Club Vacations” is a grift, and not associated with the legit Holiday Inn. I contacted Holiday Inn, and they said that this time share is a part of their business. 
 
Im going to phone them. I am starting to consider documenting all these conversations, and then just letting them try to place a lien, and if need be, challenge the ding on credit rating. 
 
Federal Trade Commission care?

[NeverMarryAStripper 21907]

Why don’t you send them a registered letter disputing the fact that you ever signed any agreement with them and challenge them to produce any document with you signature.

[statsman 5470]

3 hours ago, NeverMarryAStripper said:

Why don’t you send them a registered letter disputing the fact that you ever signed any agreement with them and challenge them to produce any document with you signature.

I was thinking that way- asking if they had anything I signed, and if so, was it notarized, because I hadn’t signed anything. 
 
We may not have to do that. I asked my dad if he had any records of his dealings with that Holiday Inn Site, purportedly for getting out of a timeshare. He called me later with a letter he found. They told him there were three ways out:

1. Sell it (this is what he tried, and was unsuccessful at)

2. Give it away (this is a no-go. Dad even sought charities. They will take some time shares, but not those like he has)

3. Give it back to Holiday Inn, after paying maintenance fees and mortgage (mortgage already paid). He’s going to call tomorrow to pursue this. 
 
I hope this will work. What’s the takeaway? I’m not saying that all time shares are bad- everybody has a different circumstance, and I know my parents used the hell out of this one. I would say, if you’re considering one, whatever the salespeople say about difficulty of getting out, they’re understating it. 

Edited August 11 by statsman

[Vegas64 675]

https://exittspro.com/timeshare-cancellation/

[statsman 5470]

My dad started the process of giving the time share back. He had to pay the back maintenance fees.  
 
Hopefully, we will be in the clear. I want to thank all for their advice, and suggest that if your aging parents have timeshares, you might want to start thinking about how they will be dispositioned 

[pacman 7355]

Friends have the same one and are also in the process of giving it back. Maintenance fees keep going up and their "level" value keeps dropping, despite being the highest level at time of purchase.

[orange dream 1251]

I was having dinner with a co-worker while on a business trip several years ago.  This wasn't a guy I knew very well so we are going through the gamut of small talk. So tell me about your family, where did you go to school, what do you like to do in your spare time, etc.  Somehow we make our way to travel interests and he tells me that he has a timeshare.  I'm thinking, "what a sucker!!" And then he goes on to tell me that he "inherited" EIGHT timeshares from his mom when she died.  I was stunned. He said they use them and are happy with it.  I still shake my head when I think of that conversation from time to time.

[troph 24798]

5 hours ago, orange dream said:

I was having dinner with a co-worker while on a business trip several years ago.  This wasn't a guy I knew very well so we are going through the gamut of small talk. So tell me about your family, where did you go to school, what do you like to do in your spare time, etc.  Somehow we make our way to travel interests and he tells me that he has a timeshare.  I'm thinking, "what a sucker!!" And then he goes on to tell me that he "inherited" EIGHT timeshares from his mom when she died.  I was stunned. He said they use them and are happy with it.  I still shake my head when I think of that conversation from time to time.

my tennis coach and his wife and kids have a timeshare deal with locations in Vegas and Hawaii and they go twice a year - once to one, and once to the other. they love it. and they do well, she's pretty high up fortune 500.

[HouTex 1867]

Some timeshares/fractional ownerships are actually good deals.  The ones I know about in Aspen and Snowmass have done well and there’s an active buy/sell market for them.