Legal Question in Real Estate Law in Arizona
quit claim a time share
i own a timeshare in california that is paid for in full. when i purchased this unit, it was a 5 star, red, meaning it had the highest rating that was available at the time. the management company has lost all ratings, for the property. many board members have resigned due to questionable things happening. i have saved letters from them. i don't want this anymore, don't intend to pay the maintenance dues, when they have not kept the property in original value that i purchased. what can i do legally?
2 Answers from Attorneys
Re: quit claim a time share
Your rights and claims will be found in and controlled by the purchase agreement, and if you can prove what representations were made in order to induce you to purchase the timeshare. You may have a claim to rescind the purchase contract, or a claim against the management company. Usually, someone other than the seller is holding the loan, and the management company is separate also.
You should obtain legal counsel and have a review of the documentation to determine what claims you might have. As you can imagine, there are lots of owners in the same situation as you and many have defaulted and failed to pay the maintenance, and then the developer does not step in and take over that obligation and pay the maintenance due on the empty/foreclosed upon units.
I doubt that the seller of the units will give you a listen to, without you first retaining counsel.
Re: quit claim a time share
PS. You may also have a claim against the Board members, even the ones who resigned, and your seller.
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