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"Deedbacks" (by KC):

glenday2 states in relevant part: >> Just spoke to Florida Department of Business & Professional Regulation. If you can't get rid of you time share and you are being eaten up alive by MF's you can write the company and returnthe TS stating the following "I am returning the said ts inliew of foreclosure" << =============================================

With all due respect, I think that you either misunderstood what was communicated to you, or you were given incomplete information in the first place.

It is true that SOME resorts voluntarily accept a "deedback" (as it is generally known in the industry) in lieu of foreclosure. However, NO resort is legally obligated to do this and many would never even consider allowing someone to just unilaterally "return" a legal ownership and its associated financial obligations. Whether or not to accept deedbacks is usually a policy decision made by the resort HOA or board --- it's NOT something that you can simply decide to just do unilaterally, entirely on your own, as an individual owner, without their consent and cooperation.

Think about this from the resort perspective --- as long as YOU own the week, YOU owe the annual maintenance fees, late fees and interest. The resort views that fact mostly as your problem, not theirs. On the other hand, if they accept a "deedback" (most don't), they relinquish the right and the opportunity to collect those owed back fees from you. Furthermore, they then have no one in your place paying maintenance fees for that week until the week gets resold to someone else.

Bottom line is that "deedback" is simply NOT your decision to make alone, unilaterally, without the full cooperation and consent of the resort involved. If the resort does not accept deedbacks (and most don't), your "deedback offer" will just be summarily ignored and, sooner or later (after all MF collection efforts have failed) you'll simply be legally foreclosed upon.