TAx defaulted time shares

2 Replies

@Ned Carey   Hey Ned do you know if TAx sale on time shares work like all other tax sales and wipe out everything except IRS?

Bid for assets has some coming up in Monterrey County CA.. and those are all probably in Carmel or 17 mile drive or someplace like that.

so tall cotton location might be worth checking them out for personal use. ??? And i wonder if they wipe out past dues 

Kind of like when i buy trustee sales in Oregon the HOA fees that are due are wiped out and start anew..

I know its the other side of the world but thought you may have looked at some in the carolinas or atlantic beach type thing

@Jay Hinrichs I don't know but if you find out I would be curious to know. Not many time shares in Baltimore unless you count hotels that charge by the hour. LOL

Who actually owns the property in a time share? Is it a management  company that then sub leases? Or is it more like a condo with 50 tenants in common?

Some states make HOA lien super lien that survive a mortgage foreclosure but I am not sure if they survive a tax foreclosure. Then you would have to know if the carve out for HOAs also applied to time share costs

My guess is if the resort has any kind of active sales department they are not going to let these go without a fight 

Unless.....the answer to the question on the table is the yes the HOA/Maintenance fees survive the foreclosure as it would be another opportunity for the Association to collect

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