Q: We own a timeshare deed for a very expensive water front property with Wyndham.
We own a timeshare deed for a very expensive water front property with Wyndham. They have priced our maintenance fees into the stratosphere! We now pay more than renting a week there! Its seems they want their deed back! Do we have any rights to the property with a deed that includes: one week, one owner, one condo per year? They are pursuing the deed very aggressively. We feel they may be selling the property soon, as it is worth much, much more than it was 30 years ago! Can we sell it back to them? Are we entitled to compensation if they do sell? If we stop paying the exorbitant maintenance fees can we still have rights to ownership if it sells at some point in the future? The loan was paid off 20 years ago. And we are just liable for a maintenance fee. Thank you!
A: Caveat emptor ... "maintenance fees into the stratosphere" are not uncommon. There is now an emerging market to resell these "fractional ownership" interest though you will not likely recoup your total investment nor sunk costs. At least you should be able to sell it and stop the maintenance fees cntinuing into the stratosphere
1 user found this answer helpful
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
