Owning a timeshare can provide enormous vacation flexibility, however, to the uninitiated, the Timeshare industry can be predatory. Often, Timeshare sellers make enticing offers and marketing strategies to get individuals to sign Timeshare Contracts. These Contracts can be filled with restrictions and unchecked, ballooning maintenance fees and recurring charges. Further, in some instances, it becomes abundantly apparent that these “maintenance fees” are not being used for their designated purposes as these Timeshare venues fall into states of obsoletion and disrepair. Further, a Timeshare owner does not terminate its liability for annual fees by the mere transfer of the Timeshare
Litigating with a Timeshare sponsor can be a costly, time-consuming endeavor. Meanwhile, during the course of litigation, the increasing recurring charges and maintenance fees must be paid. In most circumstances the interests of the consumer can be best served through a mutual arrangement of “deeding-back” for $1.00, the Timeshare interest to the sponsor or managing agent. However, most Timeshare Contracts afford nothing to aid in the consumer’s efforts to shed their Timeshare interest. In these instances, it is imperative to solicit a knowledgeable attorney who can negotiate with the Timeshare sponsor or managing agents to facilitate a “deed-back”. Should the Timeshare sponsor or managing entities choose not to come to the table with an offer of re-assignment, then the attorney must present a credible threat of litigation to ensure an expeditious, cost-effective “deed-back” process which benefits the consumer.
However, the commencement of the “deed-back” process does not equal the ultimate disposition of the matter. A savvy attorney must scrutinize the “deed-back” Contracts and Release Agreements to ensure nothing short of a full termination of liability against the transfer. This, especially, requires ensuring that the execution of the “deed-back” Contracts and Release Agreements will absolve the consumer from paying all future costs associated with the Timeshare interest, and confirming that the Assignment of the Deed is protected until such time as the Release Agreement has been fully executed by all parties. Only after the Assignment of the Deed, Release Agreements, and all other supporting documents have been executed by all parties, can the matter be closed satisfactorily. Recently, Stephen Colianni, Esq. was successful in deeding-back two Timeshare units at a prominent luxury timeshare in Upper Manhattan which was costing the owners numerous charges annually. For further information on how we can assist you please contact Stephen at (732) 797-1600 to book a consultation.