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Silverleaf Resorts Timeshare / we own the deed

1 MO, United States Review updated:

My husband gave Silverleaf Resorts a check for $15, 000 to buy the deed for the ownership rights outright, rather than pay monthly payments. Now granted, we have not paid the maintenance fees the past few months, which technically should only prohibit us from using the property and services. Now, we have received a certified letter in the mail in which Silverleaf Resorts is telling us that they will sell our timeshare in an auction on the steps of a courthouse in some other state (Missouri, we live in Texas) on a certain date in order to collect payment for the maintenance fees, which only amount to $1100. This is BOGUS. We own the deed. It's in my husband's name, and we have the physical copy of it. Someone please tell me they don't have a legal leg to stand on, and that they can't do this! This is an asset we own, that we have been saving aside for a future time, and now they are simply going to sell it off, and all that money is just going to go up in smoke!

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Comments

  • Ch
      15th of May, 2009
    0 Votes

    If you fail to pay the maintenance fees the resrot can proceed with forclosing on the deed/property.A bulk of timeshares for sales these days were acquired by the management through non-payment of the maintenance fees. You have to pay it or you will eventually loose the timeshare.

  • Ky
      5th of Mar, 2010
    0 Votes

    I'm sorry but I think they would be able to take it and that is a shame because like you we too own in Missouri however we stopped paying due to the harassment of the company and non compliance of their staff! Good luck and God Bless!

  • Id
      22nd of Mar, 2010
    0 Votes

    Deeds are seperate from Maintenence fees. MFs are required yearly with any timeshare, However, b/c their fees are higher than most in the industry, Silverleaf breaks up their yearly fees for owners to make easy payments rather than a yearly lump sum.
    Good for you for paying off your mortgage payments, but I think you were misinformed when you purchased. Maybe they didn't explain how MFs work?
    I'd pay the MFs so I don't lose use of it. Good luck.

  • Ef
      2nd of Jul, 2012
    0 Votes

    MF fees are no different than owning a home in a coummunity that has maintenance fees for your home...if you don't pay them, after a period of time, they will possess your home...so, you pay, or lose your investment. It's a rat race, but that is the way our country is run!

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