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Re: WALK AWAY FROM TIMESHARE (by Mary D.):
Maybe it would help the resale buyer( asking about giving a timeshare to an LLC) if he thought of it as having bought a house. The contract may not mention that he will need to pay taxes on the house or pay for street repairs etc. but these expenses are standard parts of home ownership. Paying the annual maintenance fee is a standard part of timeshare ownership. If he sells or gives it to a willing LLC and it takes full contractual ownership (just as he originally did), I would assume that subsequent MF obligations would then devolve upon that new owner. But be very sure that the legal transfer was made and acknowledged by the timeshare company! If you created an LLC yourself for the purpose of taking over unwanted timeshares and with the intent of not paying the related obligations, then we surely are talking fraud. (Does this sound right, Ken? Or am I missing something?) MD