"Title Transfers"...

Ok, I know this topic has been discussed to death on this board, and the search function yielded some very helpful replies. And I hate to be one of those people who signs up for a forum just so they can ask a question and then leave, but...I'm genuinely curious about this, and I'm simply not an expert.

There are now TONS of companies that are offering to take away an individual's timeshare for a payment (usually called an upfront fee). This business is called a lot of different things: the "title transfer industry," or the individual entities are "postcard companies," etc. They deservedly receive a great deal of vitriolic criticism for preying on individuals who will do anything to get rid of their timeshare. But what I want to know is, is there a gradient of unscrupulousness or are all these companies simply to be avoided?

I was reading an article...on article base of all places...that seemed to know what it was talking about, and made a lot of useful points without mentioning any specific companies:

http://www.articlesbase.com/vacation-rentals-articles/timeshare-title-transfer-companies-538789.html

But I've read a lot of similar pieces only to discover they cut corners or omitted details to paint a picture that served their agenda (there's always an agenda of some kind). What do you think? Is a title transfer ever worth looking into, or should one close the door on that option? As a timeshare owner myself in this economy, it's a question worth asking...

Re: >> What do you think? Is a title transfer ever worth looking into, or should one close the door on that option?<<

The subject has indeed been beaten to death already, here and elsewhere, over and over again. I won't engage the topic further, but will offer just one observation and suggestion, which appears separately in the post following, due to a keystroke error on my part....

If you're going to pay some entity several thousand dollars to take your timeshare, for reasons I could never comprehend, at least make sure that you clearly understand the difference between actual transfer of ownership by the preparation and recording of a new deed in the company name vs. merely providing the "entity" with power of attorney.

In the first instance of deeded transfer, you are OUT and you walk away after new deed recording. In the power of attorney approach, however, you instead merely authorize the "entity" to sell the timeshare on your behalf for whatver they can get for it. **BUT**....until that timeshare is actually sold and a new deed is recorded in a new name, **YOU** will remain personally and soley responsible for all maintenance fees, interest, special assessments, etc. if they go out of business, or willfully choose not to pay the fees. And yet, you will have formally relinquished your right to use, rent or exchange your own week while its under their power of attorney umbrella.

Please be sure that you clearly understand that the two procedures described above are about as different as night and day. Make very sure that you know exactly which approach the "entity" utilizes. There is a distinct possibility of getting "whipsawed" by some of those "entities" if your week doesn't get sold and your fees don't get paid --- even AFTER you have turned over a few thousand dollars. Proceed (if at all) with great caution.