Can My Timeshare Resort be Sold or Foreclosed On?

Sometimes, timeshare resorts don't have the money to stay in business. If they can't find a buyer or an investor, the resort will ultimately be foreclosed on. Can a timeshare be foreclosed on? The answer is yes.

In this case, it is not unheard of for owners to be asked to sign a deed-back to give up their timeshare ownership for no money in return. It is rare for owners to get any money back in this situation. Timeshare foreclosure can be a devastating thing to all parties involved.

However, the alternative in the timeshare foreclosure process is for the owners to have the opportunity to exchange their timeshare for a membership in a travel club or ownership at another related resort property after the foreclosure. This way, you can still engage in the benefits of ownership and maintain your timeshare travel lifestyle.

It is not uncommon for a timeshare resort to be sold. In fact, it happens often. Many times, when timeshare resorts are sold, it is to a new brand or developer. In this case, the current deeded timeshare owners' contracts are typically grandfathered in and there is no drastic change. The resort may just be under a new name and can often come with new or different perks, and maybe even some different exchange options.

Resort developers are good about communicating with their owners. Any changes will be announced and timeshare owners will be kept in the know regarding how the sale or rebranding will affect ownership, if at all!