Timeshares as "hate gifts?"

Glitter Brunello · #1 (**permalink**) 01-29-2010, 10:36 PM

I was just joking with Bing on the other thread, but it got me thinking....

I just signed over one of my timeshares to a new owner. All I needed was their name and address. Once the deed is recorded, I will send a copy to the resort and pay the transfer fee to put it in the new owner's name. Fortunately, this is a good week that the recipient wants.

But what if you wanted to unload a dog week on someone who deserved it?

I know there was another thread about disclaiming an interest from an inheritance, but I bet it would take some doing after the maintenance fee bills started coming...

What am I missing?

tonyg · #2 (**permalink**) 01-29-2010, 11:16 PM

I know a couple of people who would be willing to deed some timeshares over to Bing.

jlwquilter · #3 (**permalink**) 01-30-2010, 11:51 AM

Quote:

Originally Posted by Glitter Brunello

I was just joking with Bing on the other thread, but it got me thinking....

I just signed over one of my timeshares to a new owner. All I needed was their name and address. Once the deed is recorded, I will send a copy to the resort and pay the transfer fee to put it in the new owner's name. Fortunately, this is a good week that the recipient wants.

But what if you wanted to unload a dog week on someone who deserved it?

I know there was another thread about disclaiming an interest from an inheritance, but I bet it would take some doing after the maintenance fee bills started coming...

What am I missing?

I thought the same thing a few ago - what's to stop someone from doing this to deed back a week to a developer or HOA? Just do the closing yourself and let them prove they didn't agree to it. I am not personally in a position to do this but as I am now the owner of a resort that RCI dumped (resort has time to turn itself around before it effects me) my brain must have been working on this behind my back

Ok, it's not legal, ethical, etc. but that doesn't stop very many people these days.

rikkis_playpen · #4 (**permalink**) 02-04-2010, 12:08 PM

Sorry.. Was down with a bit of the flu for a few days and didn't see the new posts.

I've never had any personal experience with an instance where this was actually done to an individual.. Legally- even though many deed formats do not require a buyer's signature- ownership transfer does require their knowledge and consent.

I've heard of this being attempted with individuals simply trying to record a quit claim back to the HOA or developer, but generally the resort would simply deny the transfer and keep billing the owner until some type of resolution can be reached (I guess it would make the final foreclosure or deed in lieu process much easier, but I doubt it would provide any protection from the credit damage)..

Hopefully, some of the legal minds that visit this site can provide more information on both the legal aspects, as well as the real world implications of such an action. This issue simply goes beyond my limited experience.. Sorry!

Bill4728 · #5 (**permalink**) 02-04-2010, 03:48 PM

RE Deeding back to HOA/resort

Two things must happen for you to transfer your deeded TS to someone else

- You must record a new deed with their name

-The resort must acknowledge the transfer and record the new owner in their records.

If you tried to deed back a TS to the HOA/resort and they didn't want it, they simplely would never acknowledge the transfer and record themselves as the new owner.

So even though the deed may say XYZ Resort owns that TS week, the resort would keep billing you for the MFs.

Glitter Brunello · #6 (**permalink**) 02-04-2010, 04:19 PM

I know it wouldn't work to transfer it back to the HOA, but I've yet to find anything that makes it impossible for me to give it to my evil [fill in rel'p of choice]. All hypothetical, but still - it seems like a big gap in the system, no?

jlwquilter · #7 (**permalink**) 02-05-2010, 10:23 AM

Ok, so not to the HOA or developer. But yeah, to an evil person (hmmm... do I know any??). I guess the evil person would have to take the giver to court where I assume the transfer documents - including signed sales agreement - would be examined. If it is proved that the buyer's signature was forged then the jig is up.

Glitter Brunello · #8 (**permalink**) 02-05-2010, 10:28 AM

Quote:

Originally Posted by jlwquilter

Ok, so not to the HOA or developer. But yeah, to an evil person (hmmm... do I know any??). I guess the evil person would have to take the giver to court where I assume the transfer documents - including signed sales agreement - would be examined. If it is proved that the buyer's signature was forged then the jig is up.

My buyer hasn't had to sign anything.

Bill4728 · #9 (**permalink**) 02-05-2010, 12:24 PM

Most resorts require a buyers signature on the resort transfer docs.

jlwquilter · #10 (**permalink**) 02-05-2010, 04:32 PM

Quote:

Originally Posted by Bill4728

Most resorts require a buyers signature on the resort transfer docs.

Maybe the big resorts do. The ones I own (mom & pop type places) don't. The only signatures I get/see are on the sales agreement. The sales agreement was required by the closing company, outling terms and both signatures stating agreement. They also verified stuff thru email but that certainly could be "worked around". And if you did the closing yourself, sure, no signatures would be needed. It would be all he said-she said stuff. In that case I don't know what the HOA would do - maybe give up and take the week back - which would still meet the origonal aim - the rid one of an unwanted timeshare. We've already set aside the moral question for the purpose of answering the would it work part.