Legacy Resort Timeshare Challenges

Legacy timeshare resorts present many unique challenges for owners, despite the pleasurable vacations they may have enjoyed through the years. In the rapid pace and flexible offerings of today’s timeshare market, the legacy resort takes on several ‘dinosaur’ attributes.

What Is a Legacy Resort?

While no firm definition applies, legacy timeshare resorts typically share these characteristics:

  • Older, single-site development usually lacking a sales function
  • Developer built and sold-out, leaving resort governance and operation to the Homeowner Association (HOA)
  • “Fixed Week and Unit” model – less flexible than today’s points model
  • Frequently lack vacation club relationships
  • Conservative HOA Board management frequently without funds to stay competitive
  • Cumbersome legal documents with unrealistic voting thresholds for modifying resort programs and services
  • Lack of sales program leads to excess inventory of abandoned intervals
  • Financial limitations affect long-term viability

What Unique Problems Face Legacy Resorts?

Imagine for a moment the original timeshare owner, who purchased that simplified ‘fixed-week’ model in a resort community considerably smaller than today’s sprawling resorts. After twenty or more years of enjoying family vacations, the family has outgrown their original retreat – time to make changes and sell. The unfortunate reality makes that goal difficult, given the lack of a sales outlet, dated amenities and today’s more sophisticated and flexible timeshare market.

To make matters worse, other owners have ‘aged out’ and abandoned their intervals, leaving the HOA with the financial burden of excess inventory. The resort’s viable options are limited, due to legal restrictions that might demand as high as 100% owner agreement to make significant changes.

Legacy resorts also tend to lack professional management, adequate reserves and a forward-looking HOA board that might efficiently manage facility challenges and effectively explore viable future options. Clearly the owner of a legacy timeshare in a popular location and with favorable resort conditions stands a better chance in today’s challenging resale market. For the most part, though, inherent financial challenges, delinquencies, poor management and outdated facilities can severely limit your ability to exit your timeshare.

Our Timeshare Attorneys Can Help

If you are facing difficulties in cancelling your timeshare financial obligations, our attorneys have the knowledge and experience to help you understand and explore your options. We invite you to take a moment to examine our qualifications and candid client reviews.

Please call us today for your free legal consultation.

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