Deed-Backs

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I just got an email from one of our prominent users saying she is deeding back her timeshare for a $250 fee, leaving 300 TPUs with RCI, avoiding a substantial SA, etc.

She can talk about it if she wants.

It would be good enough with me just to have the deedback option.

[gandalf252002 Senior Member Find all posts View Profile Close gandalf252002]

I'd love to hear about it. If those TPU's could transfer to another user at $10 per TPU there is a $3000 value there. I would be interesting in knowing more about it, and perhaps somebody else would take over the MF's and pay the $250 transfer fee. Then some other poor smuck wouldn't have some high pressure sales person trying to sell it to them for $10,000. What's the SA value at? What's the property?

Heck, if she even just wants to make a couple reservations for me with her TPU before she does it and I would pay her (not for the unit, cause we know RCI does not allow rentals) but for being so nice she could recoup some of her losses and pay for the deedback in return.

I just got an email from one of our prominent users saying she is deeding back her timeshare for a $250 fee, leaving 300 TPUs with RCI, avoiding a substantial SA, etc.

She can talk about it if she wants.

It would be good enough with me just to have the deedback option.

[rapmarks Moderator Find all posts View Profile Close rapmarks]

that is me and i have no losses, i am still a member of RCI and will use my tpus in the next few years. the SA was $3100. the HOA allows deedbacks for a $250 fee. worth it to me. I have a feeling of freedom i haven't had since 1991 when i bought my first timeshare.

[gandalf252002 Senior Member Find all posts View Profile Close gandalf252002]

Now that makes more sense. The way it sounded the person deeding it back was going to loose those TPU's.

Glad to hear it all worked out for you, and having been large in debt in the past I know the feeling of relief when you get out from underneith a burden like that. It doesn't feel like a burden in the beginning, but after awhile it does.

that is me and i have no losses, i am still a member of RCI and will use my tpus in the next few years. the SA was $3100. the HOA allows deedbacks for a $250 fee. worth it to me. I have a feeling of freedom i haven't had since 1991 when i bought my first timeshare.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I spose I coulda said leaving 300 TPUs in her RCI account, but leaving 300 TPUs with RCI, seemed clear to me.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Yes, but why make things clear to anyone else ?

[rapmarks Moderator Find all posts View Profile Close rapmarks]

I am not large in debt either, but last 5 timeshares i have gotten to know ER and urgent care and have spent the week getting well enough to return home, and am getting real bad vibes from the idea of another timeshare vacation. I do have two booked for 2013, 22 weeks spacebanked (about half partials) and two other weeks with DAE, and i am paid well in advance with RCI. I thought my family would use our timeshre in the Dells, but no interest and now my mother is in hospice and I am uncomfortable booking anything.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I am not large in debt either, but last 5 timeshares i have gotten to know ER and urgent care and have spent the week getting well enough to return home, and am getting real bad vibes from the idea of another timeshare vacation. I do have two booked for 2013, 22 weeks spacebanked (about half partials) and two other weeks with DAE, and i am paid well in advance with RCI. I thought my family would use our timeshre in the Dells, but no interest and now my mother is in hospice and I am uncomfortable booking anything.

Pretty much confirms what this thread is about. Things change, and everyone (m/l) will want out some day. More and more of the veteran forum users seem to going that route. That shows what a difference 15 years makes.

I'll make that clearer if the need arises.

[rapmarks Moderator Find all posts View Profile Close rapmarks]

also, wont let you deed back unless title is free and clear, so if you owe, you are stuck i guess.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

also, wont let you deed back unless title is free and clear, so if you owe, you are stuck i guess.

I owe, I owe
So off to vacation I go

[MaryH Senior Member Find all posts View Profile Close MaryH]

For many years, the only developer still in sales on the OBX has been Barrier Island Station at their Kitty Hawk resort. That developer has pretty consistently taken deedbacks not only at Kitty Hawk but at their two sold out resorts and then recycled them through developer sales. The deeds went straight back to the developer, and whether they did anything to reimburse the HOA's (which were developer controlled) for the lost m/f's is anyone's guess. Similarly, all foreclosures were deeded to the developer, not the HOA.

Carolinian, is it legal or within regulation for developer to take deedbacks for a fee without reimbursing the HOA for back MF? Especially if the offer letter was sent out via the management company which is controlled by the developer?

I would suggest anyone deeding back a week take a minute and ask if the deed is going back to the HOA, not the developer/management company!!!

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I would suggest anyone deeding back a week take a minute and ask if the deed is going back to the HOA, not the developer/management company!!!

Yeah, like I would be that picky.

[MaryH Senior Member Find all posts View Profile Close MaryH]

Well, you can make your own decision according to your personal circumstances but at least you will be able to make the decision with the full information.

There have been cases where developers taking deedback are collecting fees and keeping the fees for themselves and/or stiffing HOA for back MF.