Original Message:
Re: Anyone have experience with Castle Law Group, PC out of Tennessee (by KC):
deborahh392 wrote:So was a quick claim deed expensive to do?
It's quit (not quick) claim deed, but the more important point is not word correction but the fact that a resort must first AGREE to accept a "deedback" (whether it's by quit claim deed or warranty deed doesn't much matter). In other words, no one can just unilaterally deed a timeshare to anyone else (including back to the resort) without the "grantee" advance knowledge and overt consent. ACCEPTANCE is a basic, fundamental legal requirement.
Most resorts will NOT accept "deedbacks", but there are certainly exceptions. A recent trend in HOA's accepting "deedbacks" seems to be for a resort HOA to first require the "bailing out" owner to pre-pay 1 or 2 (sometimes even 3) years' worth of maintenance fees as a non-negotiable condition before the HOA will agree to accept the "deedback". This is not just a "money grab" by the HOA --- it is instead a proactive measure to help ensure that people abandoning their ownership (and obligations) does not create a significant, negative financial impact on the resort finances. After all, the remaining owners then have to "pick up the slack" created by owners abandoning their obligations. At small independent resorts without the deep pockets of big corporate "chains" (like Wyndham), the resort cannot just "absorb" the financial hits of suddenly abandoned timeshares no longer paying any fees. Maintenance fees are what keep a place up and running for remaining owners still paying their fees and pulling their weight. Such a pre-paid maintenance fee requirement as a condition of "deedback acceptance" helps to keep the resort finances on an even keel until a new, willing owner can be found for the "abandoned" timeshare.