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Mother's Time Share |
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My Mother bought time shares in St. Pete, FL(Camelot by the Sea), and my brother and I had our names put on the deed when we got power of attorney(she is now in a nursing home). There has been a lot of mismanagement there over the years, which has resulted in assessments to the owners. We have past due maintenance fees and taxes on the property (approx. $5000.) and are currently close to foreclosure. We no longer want anything to do with the property, and they have refused to negotiate. My question is, if we allow this foreclosure to go to conclusion, what kind of a legal and financial impact will this have on my brother and I in the future? |
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When you say 'foreclosure" are you talking about a mortgage? If not, if it's just taxes and fees, by all means have a talk withyour own lawyer, and ask if there's much danger in simply letting the property be sold for back taxes.
I can't really offer specific information because I don't know if you own the property in fee simple, etc. By all means discuss it with a lawyer. |
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Edith
Originally published on February 28, 2008 |
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