Buying, Renting, and Selling Timeshares

Time share contract take back clause

Donald W.

My wife and I have owned a 3rd week in Jan. studio unit in the Towers at Mullet Bay for more than 25 years. We haven't used it regularly in a while and are looking for a way to part with it. The contract that we have has a clause in it that says if we don't pay the maintenance dues, they have the right to take back the unit. Does anyone know what the down side to this, if any, might be?

Thank you, Don

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Don P.

Call your home resort and ask them to take it back through a " deed back ". Make sure you talk to someone who deals with that aspect. If they agree then you have to be current with all fees and assessments. They may require you to pay the next years maintenance fees and taxes but that's a small price to pay to be rid of a lifetime obligation.



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