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Transfer ownership to legally constituted LLC (by Lance C.):

ericg88 wrote:

Has anyone transfered the paid up ownership of a timeshare legally to an LLC and later walked away from paying the maintenance fee? If so, can you provide some details as to how this worked out in the long term? Eric G.

Do you mean that the LLC was set up by the owner of the timeshare (for the sole purpose of "disposing" of the timeshare) or do you mean the owner transferred it to LLC owned by someone else (again, solely for the purpose of "disposing" of timeshares)?

If the owner is setting one up just for this purpose, then it would be an expensive and rigorous way of trying to get rid of the unit.

Either way, why not save the potential legal troubles and hassles by just trying to sell or give away the timeshare to someone. Advertise it here on RedWeek for a $1 sale.

There have been various management companies and HOAs trying to crack down on these transfers where the new "owner" deliberately defaults on maintenance fees. Some may be looking at fraudulent conveyance.