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"Annual Fees and Usage Begin in 2012"

Chris_NH

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I'm perusing my first TS purchase, and saw this for the first time (I'm sure I'll see more as the calendar flips). I was just curious. How does one enforce this? I have to assume it's something more than a gentleman's agreement. If I buy a summer-season TS today and close sometime in the next several weeks, how is the resort supposed to know that anybody besides me has the right to use it for 2011?

Just curious and trying to understand the mechanics a bit better.

Chris
 
Chances are the 2011 week has been spacebanked with an exchange company and is no longer available
 
The week is probably already deposited with an exchange company. Just hope that the 2012 week is available for you to use as you do not ave much more than a gentlemens agreement on that.
 
There are actually SEVERAL different possibilities here...

How does one enforce this? I have to assume it's something more than a gentleman's agreement. If I buy a summer-season TS today and close sometime in the next several weeks, how is the resort supposed to know that anybody besides me has the right to use it for 2011?

Just curious and trying to understand the mechanics a bit better.

It could be that the seller has already paid (or will soon pay) the 2011 fees and wants to use (or rent out, or exchange) that owned week one last time before relinquishing ownership, hence the "beginning in 2012".
If this is the case, the closing company documents (and the later notification to the resort) should clearly specify, under buyer and seller signature, the first year of usage (and responsibility for maintenance fees).

Another possibility here which you should certainly look into further is that it could be a biennial (every other year or "EOY", in even numbered years) usage, in which case there will likely be no usage for anyone at this point until 2012. It's important to ferret this out ---you certainly don't want to indavertently end up with a EOY ownership if you are buying (and paying an amount believing that it is) annual usage. :eek:

If this is an eBay purchase, dig deep and hard into each and every pertinent detail represented about the week and verify everything stated. eBay mega-resellers frequently make factual errors in their listings, often mistakes resulting from all their "cutting and pasting" from /to their many assorted ads. Be very certain that you are buying exactly what you think you are buying before signing on the dotted line.

Hope this helps. Good luck.
 
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I sold a week in 2009 with fees and usage beginning in 2011. As others have said, the reason was that I had already deposited the week with Interval.

When I purchased the timeshare in 2008 it was with fees and use starting in 2009. However the (ebay) seller had not done anything with the 2008 week, so I got it for free. (I found this out after the purchase was completed.)
 
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