real-estate
Time share fees
<p>I have a time share which I have difficulty using as the places I want to go are never available when I want them. I have tried to sell it with no success. It is paid for but there are hefty fees yearly. I tried to find out from the company whether I can just stop paying and forfeit the ownership but they would not answer. I would like to know whether there would be any legal repercussions if I just stopped paying the fees?</p>

<h2>Yes</h2>

<p>You have a contract and, while I don't know what it says, its a fair bet that not making payments the contract requires you to make would be a breach of that contract. This would allow the other party to sue you for the unpaid fees as well as interest on them and the consts of collection (collection agency fees, legal fees etc.). In addition they can report you as a defaulter (which you would be) to any and all credit reporting agencies which would wreck your ability to get credit in the future.</p>

<p>If the do sue you and succeed (as the probably would) they can seize your assets to sell them to recover their debt - since the time-share appears to have limited value they would probably seize your savings or your car instead.</p>

<p>You need to read the contract to find out how you can end it legally.</p>
