Original Message:
Re: Anyone have experience with Castle Law Group, PC out of Tennessee (by Tam M.):
ken1193 wrote: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 without the "grantee"'s knowledge and consent. ACCEPTANCE is a very basic, fundamental legal requirement.
Most resorts still will NOT entertain acceptance of "deedbacks", but there are certainly numerous exceptions. A recent trend in HOA's accepting "deedbacks" seems to be for a resort HOA to also require the "bailing out" owner to also pay 1 or 2 (sometimes 3) years' worth of maintenance fees as a pre-condition to the HOA accepting the "deedback". This is not just a "money grab" by the HOA --- it's a measure to ensure that people essentially abandoning their timeshare ownership obligations does not create a significant negative financial impact on the resort finances. After all, the remaining owners then still have to "pick up the slack" created by the abandoning owners. At small independent resorts without the deep pockets of big corporate "chains" (like Wyndham), the resort cannot just somehow "absorb" the hit of suddenly abandoned timeshares no longer paying any fees. Maintenance fees are what keep the places running for those owners still remaining as paying owners and pulling their weight.
Thank you Ken, finally an true and honest comment about deedbacks and HOA's abilities to accept such transactions!!!!!