Posted on: 04th May, 2010 10:21 am
I own a timeshare and have a deed to the property. My income decreased significantly due to corporate downsizing and career path changes. Unfortunately, I have not been able to pay my yearly maintence fees. Attempts to rectify this with the timeshare go unanswered. I just discovered a judgement from a collection agency for the timeshare maintenance fees on my credit report. I have never been contacted by my timeshare with regards to this. The collection balance is less than what my time share is worth. Do I need to get consent from my timeshare to quit claim my interest in the property?
You won't need a consent from the timeshare company to transfer the property to anyone. However, as there is a lien on the property, the new owner will become responsible to pay it off if you do not clear the dues.