Legal Question in Real Estate Law in California

Timeshare Mistake

OK, I went brainless for a day and bought a timeshare in California.

Now, after changes in my financial position, I want to give back the timeshare and remove this financial burden.

I am current on all monthly payments on loan and maintenance fees.

The amount owed on the loan far exceeds the current market value of the timeshare. Renting it out will, at most, cover the maintenance fees.

How do I go about working with the timeshare company to achieve my goal or anything close to it?

What is the best way to approach them, to get their attention and to get in contact with someone who can actually make decisions?

My attempts so far to discuss this with them have been stonewalled.

Can they get a deficiency judgement and go after my other assets if I stop making payments?

FYI, property is in CA, I live in AZ.

Should I offer them a deed in lieu of foreclosure on the condition they include in credit report that I am current on all payments up to that time?

How do I find an attorney in AZ that is current on CA law?

Thanks in advance.


Asked on 2/16/09, 6:02 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Re: Timeshare Mistake

I believe that any attempts that you make as an individual will be "stonewalled" as you have already experienced. You have to take action that will make the seller conclude that you have a clear legal right to rescind the transaction or that you will cause them more trouble than it is worth to fight you.

They are expert in dealing with people who bought a timeshare impulsively and then, want to "give it back." You should consult with legal counsel at once. Depending upon the seller and who now holds the promissory note/mortgage, you may not need California counsel. I would be willing to consult with you for a fixed fee, one meeting only and no further obligation, to help you analyze the facts and determine what alternatives are available to you.

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Answered on 2/16/09, 6:24 pm


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