Owning a timeshare may seem like a good idea for buyers looking for a slice of paradise once a year, but, like any property purchase, timeshares are also packaged with legal issues. Along with a week of sand and sun, buyers of timeshares can expect that they eventually may run into a deed problem. A deed is a legal document that details ownership rights of property.

If you ever grow unsatisfied with your timeshare, there may be a deed back clause in your purchase contract or the resort may offer a deed back program. A deed back clause or program allows you to legally give your timeshare back to the resort, but until then, you remain responsible for paying the maintenance and special assessment fees along with your mortgage payments.

However, not every timeshare agreement easily ends in a deed back program. Sometimes, timeshare owners who no longer wish to own the property or lose it due to bankruptcy or foreclosure may be offered a warranty deed by the resort or lender to sign to legally remove their ownership status. A warranty deed is a type of deed where the seller guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the buyer. This is in contrast to a quitclaim deed, where the seller does not guarantee that he or she holds title to a piece of real estate.

Timeshare owners should be very cautious about signing a warranty deed when attempting to give up ownership of the property. Without an attorney’s assistance in researching the full history of the property, it is virtually impossible to definitely state that the timeshare property is clear of any encumbrances. By signing a warranty deed to give the timeshare back to the resort or to a new buyer, the original timeshare owner may be making legal claims that they might not be able to back up in court if an issue ever arises with the timeshare’s title. Instead, a timeshare owner would be better served by signing a quitclaim deed, which says that the former timeshare owner gives the new timeshare owner whatever interest they have in the property.

If you own a timeshare and are thinking of giving up your interest in the property, consult an experienced real estate attorney before signing any documents or making any major legal decisions. A real estate attorney will be able to check the property history of your timeshare and ensure that you do not entangle yourself in a potential legal dispute years after giving up your stake in the property.

Stephen K. Hachey, a Florida real estate attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

To say that moving is stressful is likely an understatement for anyone who has ever rented a home or apartment. Not only do you need to pack your life away and transfer your belongings before your leases’ end, you also have to ensure you leave your former residence in the same shape you first found it. If not, the sacred security deposit that’s constantly in the back of your mind is at stake.

Unfortunately, most renters are not aware of their rights under Florida’s Landlord Tenant Law and will not dispute a landlord’s refusal to return the first and last month’s rent sacrificed at the beginning of the leasehold. Although some rental situations warrant a landlord withholding a security deposit for legitimate damage caused by the former tenant, landlords often take advantage of a renter’s naivety of the law and pocket the security deposit for claimed damage that never actually occurred.

If you find yourself in a situation where your former landlord is refusing to return your security deposit, there are legal remedies available to you to help get your money back. Landlord Tenant Law in the state of Florida is very clear regarding a landlord’s duties in refunding a security deposit. If the landlord does not follow the requirements of the law exactly, then their right to withhold any amount of a security deposit is completely forfeited. The landlord then must to return 100% of your security deposit.

In Florida, once a tenant has vacated the property at the end of a lease, if the landlord does not intend to impose a claim on the security deposit, the landlord has 15 days to return the security deposit. Otherwise, the landlord has 30 days to give the tenant written notice by certified mail of their intention to impose a claim on the deposit and the reason for imposing the claim.

If your landlord gave you proper notice by certified mail of making a claim on your deposit, you need to reply with a written objection within 15 days of receiving the notice. After that, if you cannot negotiate a resolution with your landlord, one of you must file a lawsuit to resolve the dispute. Depending on the amount of the deposit, you may want to file the lawsuit in small claims court. The clerk’s office has forms you can complete to file the lawsuit. Although a security deposit may seem like a small amount of money to sue over, if you prevail you will not only recover the whole deposit, you may also be entitled to have your attorney’s fees paid by your previous landlord.

If your landlord has withheld your security deposit from you, it is important that you discuss your claim with an attorney who will help you determine the best way to get your deposit back. Sometimes, all that is needed for a landlord to refund a deposit that was initially withheld is a letter from an attorney.

Don’t allow your landlord to bully you into forfeiting your claim to your security deposit. Let an attorney help you with your case, so that you can settle into your new home without the stress of your old one hanging over you.

Stephen K. Hachey, a Florida real estate attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

If you are pursuing a Chapter 13 bankruptcy, you are able to either short sell or foreclose on your home to settle that portion of your debt. The purpose of a short sale is to relieve the borrower’s obligation to pay the difference between the sale price of the home and the mortgage amount when the property is worth less than what is owed. A foreclosure is a much longer process that involves several steps after a homeowner falls behind on mortgage payments. The lender begins the legal process of selling the home at auction in order to get payment for the loan. If the sale price is less than what is owed on the mortgage, a deficiency judgment results. Depending on the jurisdiction, outside of bankruptcy the borrower would be personally liable for the entire amount of the judgment.

In a Chapter 13 bankruptcy scenario, no matter how the home is surrendered (either short sale or foreclosure) any remaining deficiency will be paid out as unsecured debt through the Chapter 13 plan. Because the borrower is responsible to pay some of their unsecured debt through the plan, a short sale that slashes this debt before the bankruptcy is initiated is beneficial. If a borrower can negotiate a short sale prior to filing for Chapter 13 bankruptcy, the plan payment will be reduced because the unsecured debt was reduced through the sale prior to proceedings. Thus, completing a short sale before a Chapter 13 bankruptcy has the potential to lower plan payments.

However, if you are already entangled in bankruptcy proceedings, a short sale and foreclosure will likely result in the same outcome – a short sale only eliminates the legal hassle involved with a foreclosure. If you are thinking about or have already filed for bankruptcy, it is in your best interest to meet with an experienced attorney to discuss your case. An attorney familiar with bankruptcy and real estate proceedings will be able to advise you whether your situation is suited for a short sale or foreclosure and may also be able to help you avoid selling your home.

When you are facing bankruptcy you feel like you have everything to lose. However, an attorney can help you put the pieces back together and make sense of your specific case. Don’t walk through a bankruptcy blindly, make sure you have all the advantages an attorney can give you.

Stephen K. Hachey, a Florida real estate attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

When a foreclosure process has been initiated, the homeowner still has options available to them in order to prevent the lender from reclaiming the property. One option that may be attractive to homeowners who are having difficulties making mortgage payments is a loan modification. Mortgage lenders employ loan modifications to help homeowners who may become delinquent or are already behind on their mortgage payments. In a loan modification, the lender edits the original loan agreement terms to help homeowners reduce their monthly mortgage payments to a more reasonable figure.

However, when a foreclosure process has already been initiated, time is of the essence to pursue a loan modification. In Florida, the lender has to file a lawsuit in state court in order to initiate a foreclosure proceeding. Once a homeowner has stopped making payments, the lender files a complaint with the court and has it served to the borrower, along with a summons that provides twenty days for the borrower to file an answer to the complaint. If the borrower does not respond to the complaint within the specified amount of time, then the lender can get a default judgment from the court, which means that the lender automatically wins the case. However, if the borrower files an answer to the complaint with the court, then the lender cannot obtain a default judgment and the lender will either pursue a summary judgment hearing or trial.

During this time, a borrower would be wise to pursue loan modification with the lender. Although a lender may not be initially receptive to a loan modification once the foreclosure has been initiated, a successful loan modification agreement eliminates the hassle to the lender posed by pursuing a full trial, which is a great bargaining point for the borrower. It also means the lender would avoid having to sell the home to recoup their money.

If a judge has already decided a foreclosure case, it is still possible to negotiate with the lender for a loan modification. However, in this scenario, the lender has much more control over the loan modification terms, as they already have a foreclosure judgment to fall back on. In this case, it is highly recommended that the homeowner seek an experienced attorney to assist in understanding and negotiating the loan modification terms.

Keep in mind that loan modifications are considered one of the most difficult things to get approved without an experienced attorney’s assistance in a foreclosure process. If a lender is after your home, be sure to contact an experienced real estate attorney who will be able to examine your case and strategize the best way to save your home – including loan modification.

Stephen K. Hachey, a Florida real estate attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.