Timeshare Adventure Cancellation Program

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Original Message:

Timeshare Adventure Cancellation Program (by Lance C.):

jamesb1029 wrote:
BLAH BLAH BLAH....has anyone noticed if you take RedWeeks advice you will keep your timeshare...or give it away? Most Timeshare companies have first right of refusal. You can't give it away if they will not let you.

Are you aware of how Right of First Refusal (ROFR) works? It means that if an owner comes to an agreement, including selling price, with someone to sell it to him, then the resort, if it feels the price is to low, can choose to exercise ROFR and buy it back from the owner for a heftier price.

Some resorts do have this right but not often do they exercise this right. There's a big difference between having the right and exercising it. Even if the resort exercises that right, the owner is free from ownership because the resort just bought it back from him.

So the resort can not stop an owner from giving his timeshare away. The one problem that is surfacing as of late is when owners pay these LLC companies or charities to take over ownership and then the new owner (the LLC or charity) deliberately defaults on the maintenance fees so as to send the timeshare into foreclosure. If/When that happens, the resort (or its HOA) can't stop the transfer but it can sue for fraudulent conveyance. Regardless, a resort can not stop an owner from giving his property to another willing taker ROFR notwithstanding.