my parents bought a timeshare 16 years ago in Ontario - they are now retired and would like to get rid of the deed. we tried to sell it on ebay - didn't work and they have no one to transfer it to. they spoke to a friend that stopped paying maintenance fees and the collections agency stopped bothering him after 2 years. I assume the creditor is waiting for the individual to die and pursue the estate. RCI told my mom that they will pursue the descendants if they do not pay the fees. they have not paid their maintenance fees this year and the late fees are piling up. I contacted a company to try and donate the deed. is there anything else I can do. my parents own a house so I assume declaring bankruptcy is out of the question. so if you can help it would be much appreciated. thanks very much.
Unfortunately, I'm not able to offer you much help with your parent's situation. I believe for a deeded timeshare in Ontario, you would have to have a Canadian attorney handle the transfer of title. Our office would only handle a transfer of a Canadian timeshare, if it was a right to use/membership type ownership.
Have your parents contacted the resort to ask if they can deed the timeshare back to them? Some resorts have these types of programs. It doesn't hurt to ask. Besides that, the only thing that I can suggest is for your parents to try and find a buyer or someone willing to take over the timeshare. If you go to our website www.TimeshareResaleClosings.com, click on the Links Tab, we have some suggestions there on how they might be able to sell their timeshare or find someone to take it over.
Thank you for your question. I hope I've been of some assistance to you.
JRA Services, Inc.