Getting rid of your timeshare

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Original Message:

Relinquishing ownership is only rarely so easy... (by KC):

donp196 wrote:
I called the two timeshares and they both agreed to take them back with just a quit claim deed. The expense was minimal and we are now free of them.
Contacting a resort HOA to request them to take a "deedback" (a.k.a. "accept my deed in lieu of foreclosure") has been suggested many times previously in these very RedWeek forums.

However, the vast majority of resorts will NOT accept deedbacks. Remember, once a "deeded back" week legally reverts to the HOA, then very suddenly NO ONE is responsible for paying ANY maintenance fees on those particular weeks until and unless those weeks are somehow later resold. Accepting "deedbacks" obviously diminishes a resort's income (i.e., operating funds) and, accordingly, weakens the overall financial health and stability of the facility. In short, it's completely understandable why so relatively few resort HOA's are willing to even CONSIDER accepting "deedbacks".

In any event, congratulations on your own particular good fortune.