QUESTION
Will I be sued if I refuse to pay past due condo timeshare associations fees?
Asked on Feb 13th, 2013 on Real Estate - Colorado
More details to this question:
I own a timeshare condo week in Winter Park Colorado. I have not paid the association annual fees for the past 3 years. An attorney representing the association has contacted me regarding collection of these fees. Am I personally liable for these fees? If I refuse to pay these fees but offer for them to retake ownership of the timeshare interval week, can they sue me? I reside in Ohio. I would think any type of additional activity would cost them more then they would recoup. The past due fees are around $2,500. What actions can the attorney take against me from a collection perspective?
1 ANSWER
3 Awards
Carol,
Are you referencing the annual maintenance fees for the condo? The association could put a lien on your condo to recover the fees should you ever sell it and they could foreclose on your condo to recover the payment. Many times these timeshares structure the agreement so as to create personal liability as is seems has been done here. I'd have to read your documents to determine. Personal liability will reflect negatively on your credit report if you intend to barrow money in the next few years. Many times when an account has been sent to collections, you can settle it for less than the principle amount.
Have you considered selling the condo to pay the fees?
I can help you with your collection issue and I offer a free initial consultation. Call me.
Answered on Feb 14th, 2013 at 8:17 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.