A month ago I purchased a time share through a resale company. When I made the company and I made an agreement that I would pay the current years fees in order to gain access to the property and bank my time share for future use. The company and the time shares owner filed with the registry of deeds turning ownership over to me as paid in full.
Although I have agreed, verbally to make the fee payment for the 2013 year, the owner said that if I do not pay it 7 days prior to the check in date for the week I purchased, they will revoke ownership. However, I have a copy of my completed and recorded deed. I have every intention of paying, on the date I agreed to but do not like the idea that someone can simply go to the court house and revoke a recorded deed. "
Can this be done?
Real Estate Attorney
I am a little confused by the question, but generally speaking a deed recorded, cannot be revoked by the former owner unless there are reserved powers of revocation.
Are you saying that the former timeshare owner is threatening to revoke the deed?
My answers are general in nature based upon very short, and often incomplete questions. Please do not rely upon my answers. If you need a legal opinion, you need to hire a lawyer who will take the time to fully understand your problem and then take the time to research the issues.
Family Law Attorney
First, what is legal or not will be governed by the law where the time share is located. Second, I doubt they have any power to "revoke" the deed, but I am sure that within the time share documents are provisions requiring you to pay the fee and failure to pay will lead to the time share equivalent of a foreclosure or the time share equivalent of a condo lien for non-payment of condo fees (which too can ultimately lead to a "foreclosure"). In other words, read your time share documents very carefully. There are probably a number of do's and don'ts and you stating when you will pay the fees may not match with when they are actually due as required by the documents. As with mortgages and condos, your rights to ownership can be adversely affected by a failure to adhere to lawful rules and payment requirements. If after reading the documents and understanding the requirements you still think the management company is wrong, then you will need an attorney who handles time shares in the place where it is located and/or have to speak to the state agency regulating time shares in that state.
To questioners from West Virginia & New York: Although I am licensed to practice in your state (in WV, on inactive status as of 9/13), I practice on a day-to-day basis in Massachusetts. I answer questions in your state in areas of the law in which I practice, and in which I feel comfortable trying to offer you assistance based on my knowledge of specific statutes in your state and/or general principles applicable in all states. It is always best, however, to work with attorneys and court personnel in your own area to deal with specific problems and factual situations.
It is unlikely there is any way your interest in the time share can simply "disappear" with the recorded deed. However, each state is different, and I am not licensed in your state. Time shares generally have a complex set of internal rules/by-laws/governance rules discussing the payment of assessments and fees. Get a copy of the governing documents and see if that is what they are relying upon. It sounds like you might want to hire an attorney in the area to remind the company of their obligations in following the rules, and the ramifications of unlawful claims in an attempt to collect a debt.
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I believe the "owner" meant, they would revoke your week that you reserved if you did not pay the assessment prior to check-in. That is a practice in timeshare rules of use, but they cannot not simply revoke your ownership. They can of course foreclose on the interval, according to the governing docs, and state law, but that is going to take some time.