Question I have a fractional ownership certificate from a timeshare in Mexico. It is fully paid for according to the contract purchase price. What I want to do is stop paying maintenance fees and let the property go. What are the consequences of this action.
Answer Hello Lynn,
Thanks for the question. It would really depend on which resort you own. Some Mexican resorts will simply stop trying to collect MFs from you after 1 year of non paying. Others will go after you and send you to collections. I would suggest contacting the resort and seeing if they have any sort of relinquishment program where you can just turn your ownership back to them.
I can answer any questions regarding the timeshare industry, developer sales, resales, vacation clubs, donation, liquidation, listing, for sale by owner, RCI, II, SFX exchange. Anything related to timeshares or campground memberships or fractional vacation real estate
I have been in the industry for 7 years. I started selling timeshare for a developer in South Dakota. I then transitioned into the escrow side of the resale market and I am currently the VP of Sales and Marketing at Resort Closings, Inc. Resort Closings Inc is the largest timeshare escrow service in North America. It provides full service timeshare transfer as well as sales.
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