Past Due Dues on a Time Share

by Mike Huss

I cosigned on a Time share with a buddy of mine back in the 90's. He didn't have the $1000 at the time so I said I would cosign and pay it. Within 4 months he paid me back and I signed a quit claim deed with him and he said he would take care of everything for filing that paper work. Last year, New Owners bought the Time share and I started getting collection notices from them saying I owed all this back charges. I have never spent one day at this time share. I didn't even know he hadn't done the paper work until they sent my a letter almost 20 years later. They say I owe a total of $7,615.75 now what do I do? I live in Washington State, the property is about 4 hrs. away from where I live. I called them once and told them to find my buddy but they said they tried and couldn't so now it's up to me to pay.

Comments for Past Due Dues on a Time Share

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Feb 02, 2016
Past Due Dues on a Time Share

When you became a cosigner, you and your buddy both became legally obligated to pay the time share's expenses. In other words, if he did not pay something, you would be legally obligated to pay them.

Although I am not an attorney, my understanding is that once the quit claim deed was executed, your buddy owned all of the time share -- you no longer had an interest in it -- and therefore, you no longer had responsibility for paying any of it debts going forward. However if your friend did not record the quit claim deed, then it probably appears that you continue to have an ownership interest in the time share, which is why the new owners of the time share are contacting you. Note: The quit claim deed is valid even if it was not recorded.

I recommend therefore, that you do two things. First, if you've not already done so, contact your buddy to let him know about the money he owes and suggest that he contact the new owners so they stop contacting you.

Second, schedule an appointment with a real estate attorney to discuss your situation and what you should do. Be sure to bring a copy of the deed to the meeting. The attorney may recommend that he or she send the new owners a letter.

Best of luck resolving your situation as quickly as possible and don't consign anything again. You are seeing first hand why doing so can be fraught with problems.

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