'Perpetuity' means lengthy obligation
William McNutt's (Fencepost, Jan. 10) warning about investing in timeshares should be seriously heeded.
Timeshare ownership is a purchase on par with buying real estate, so there are contractual duties incumbent upon the buyer.
Few buyers realize that there are two types of ownership: Deeded and Right of Use. A deeded ownership means that the owner retains rights and obligations into perpetuity. Right of Use: Right to use property for a certain amount of time.
Unfortunately, we had invested in a deeded "float-odd week" timeshare in the Lake of the Woods area. The "forever" part of the deed hit us when trying countless times to sell it, trade it or donate it, failed. It was ours into "eternity" -- meaning we would always be liable, our children, grandchildren, etc., would be legally liable for all bills in connection with this one-week vacation paradise.
The resort did not offer real estate services, so we went through the frustrating process of running ads in local newspapers and timeshare Web sites.
Considering it an annoying and costly real estate albatross, we finally had to pay a timeshare relief agency to legally transfer the deed to another party willing to take ownership.
"Perpetuity" is a long time to pay for a week's vacation.
Arlene Sawicki
South Barrington