My timeshare is paid for but i want to turn give it back because the maintenance fees keep going up. Will I still be libel for the maintenance fees if I turn it back to the company?
You would be responsible for the maintenence fees even if you turn the timeshare back to the company. This is because the unit still needs to be maintained regardless of who has actual title to the timeshare. The better avenue to pursue is to attempt to sell the unit. This may be difficult to do given the soft retail market, but it is worth a shot. You can also contact a local attorney to advise you on some other avenues to explore, Good luck.
Without having the chance to review the document you signed, I can't be sure what it says, but I assume it does say that yes, you would be still responsible for maintenance fees, which is why timeshares are such horrible deals. They sound great until you realize that the expenses never stop, and never stop going up, yet you're the "owner" and you've agreed to pay the sales company forever for the privilege of competing for the few weekends a year that everyone else wants to use their timeshare.
There are law firms and companies in business that supposedly help you break these contracts, because so many people want to, and they often require money upfront, which seems like throwing more good money after bad, but I've seen AVVO posts from people who can't GIVE these things away because they're such money pits.
Avvo doesn't pay us for these responses, and I'm not your lawyer just because I answer this question or respond to any follow-up comments. If you want to hire me, please contact me. Otherwise, please don't expect a further response. We need an actual written agreement to form an attorney-client relationship. I'm only licensed in CA and you shouldn't rely on this answer, since each state has different laws, each situation is fact specific, and it's impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue.
Depending on the location of the timeshare, I have had several clients successfully donate their timeshares to charity. They were able to not only get out from under the fees, but also to get a tax deduction, at the same time. I would explore a number of different options, but you should also have an attorney review your contract, so you know your rights and obligations.
I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state. The law changes frequently and varies from state to state.
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