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Isn't Denice,s plan to give away your TS with all expenses(including 2012 MF) similar to dumping the TS in an LLC ,Trust or working with a PCC.. One could take the TS use or rent it and walk away leaving you off the hook but the HOA on.
rrlongwell:
Why not. a judgment proof or indigent person could get many free vacations this way. Or someone who wants to start a TS rental company on a shoestring. If it goes belly up , so what.
Or what if an alien from outer space gets a free timeshare and they don't belong to any credit bureaus on earth?
Or what if a diplomat gets a free timeshare, and because of their diplomatic immunity, they can't be prosecuted?
Or what if a pet with good computer skills is home alone and they get a free timeshare?
Or what if I have a split personality, and Evil Denise pretends to be Good Denise and Evil Denise gets a free timeshare? BaaaaaHaaaaHaaaaaHaaaaa
Or what if an honest person who wants a timeshare gets it, and both parties are very happy with the legal and ethical transfer of the timeshare from one party to the other?
Isn't Denice,s plan to give away your TS with all expenses(including 2012 MF) similar to dumping the TS in an LLC ,Trust or working with a PCC.. One could take the TS use or rent it and walk away leaving you off the hook but the HOA on.
I am missing the connection between Denise's advice and the use of a LLC or a PCC...
By giving a timeshare away, the new owner is someone who has a use for it, the transferror is free of any further obligation, and the HOA can continue to have a participating owner. Dumping it in a trust or LLC with the intent of folding leaves the HOA worse off (let alone the questionable legality of the situation). Using a PCC never actually confirms that the timeshare is transferred out of your name, leaving the owner with potential future financial obligations that they thought they were free of.
I have followed Denise's advice for 2 different situations and found new owners whom I believe to be happy as they were interested in the weeks I was willing to transfer. The HOA will continue to collect the maintenance fees required. I am certain that these are out of my name. No mess with any LLC.
rrlongwell:
Why not. a judgment proof or indigent person could get many free vacations this way. Or someone who wants to start a TS rental company on a shoestring. If it goes belly up , so what.
Could happen, but I think the issue is or would be did the seller know or should have known that the buyer intended on committing fraud. The same goes for house sales or other types of property or investments.
A earlier poster did observe the real threat to the Developers/Homeowners Associations. I was listening to the news today and apparently other earth like plants were identified. If one of those Aliens wants to buy from you, you might want to think twice, unless of course the alien produces cash in U.S. currency. In that case, Wynhdam themselves would probably sell them a bunch.
Isn't Denice,s plan to give away your TS with all expenses(including 2012 MF) similar to dumping the TS in an LLC ,Trust or working with a PCC.. One could take the TS use or rent it and walk away leaving you off the hook but the HOA on.
Argh, yes it is the same, except when you are giving it to someone who can use it, you are helping another person and yourself, when you are transferring it to a LLC or PCC or any other type of company, you are only helping yourself
What happens afterwards, could be the same thing between the PCC and the person, they could both resell it at a profit....But in the end, atleast by choosing to transfer it to a living breathing human, instead of a company, you are doing something that benefits the entire human race
Giving your TS away to a Tugger that can use it is a win-win-win situation.
The seller is rid of the TS and MF.
The buyer gets a TS for free that they can use instead of paying on ebay.
The HOA has a paying owner, rather than a PCC that may walk away from it or an owner that refuses to pay MF's.
If the buyer eventually walks away from it, at least the title is not in your name (which it could easily be with a PCC) and you did "the right thing" at the time instead of paying a PCC to take it off your hands or simply not paying your MF's.
I think this is a legitimate question. I have worried as the offers get more attractive that the TUG board might just be attracting someone who wants to use the timeshare the first year - especially if maintenance has been paid - and then gets tired of it and walks away. But this potential walk away is the same problem that ebay buyers who buy a unit for $1.00 and free closing also have. Luckily you can develop a sense for these things. One of our two ebay sales which were essentially giveaways was sold to someone who already had another unit at the resort (a perfect buyer!) Another was a mother son combination (two households that can share one timeshare usage). Often these units are attracting first time buyers. However if the buyer sounds flaky which one of our potential buyers responding to TUG's bargain basement did, we just did not pursue it. Funtime
Ive "purchased" timeshares here on Tug and on Ebay, with free weeks, that I immediately rented. As far as an exit plan..I subscribe to the greater fool theory. I figure if I was foolish enough to buy, I can find someone just as foolish when I want to sell.
My only intent when I bought, was to rent the weeks and pocket the money.(and I did) And for next year, my only intent is to rent it again ...
I dont often quote the bible, but what better time than today
"For who among men knows the thoughts of a man except the spirit of the man which is in him?"
If I cant rent it, and I cant give it away...well we'll cross that bridge when I come to it... I have no intent today
I too am tired of Denise's "broken record" advice but I am also tired of the ops advice to have an LLC as an exit plan.
Of course Ive seen their posts before ...over and over. and in threads where they dont seem to have a place. But folks new to Tug havent seen it . and they need to. .... Of course now, I pretty much skip over their posts..all of them
Denise's "canned" response is valid to the daily 1 time posting of XYZ, LLC wants $ 3500 to get me out of my timeshare or ABC LLC has a buyer and they want $ 1,900 in title search, taxes and or closing fees.
These drive by posters will never take the time to search and come to a viable conclusion
All she is doing is advocating cutting out the middleman and reaching for the optimal solution of transferring to a dues paying owner
However I do take offense in you a relative newbie comparing Denise's contributions and hours of vounteer effort to the perpetual Sh$% stirrer e.Bram
When we get newbies asking the same question(s) day after day - the responses are going to be the same day after day.
It would be a waste of time to re-write those "standard" answers for newbies every time, so I have a file of tried and true responses that I copy and paste.
I know it's old tired news to Tuggers, but as long as we have newbies on TUG, it will be new info. to them and might prevent them from making a big financial mistake.
The advice I give is based on my own personal experiences, and they are strategies that have worked for me - not speculation about ways that someone might be able to squirm out of their timeshare using loopholes in the law, or taking advantage of other owners.
Ron's suggestion is a good one - if you are tired of reading my canned responses, just skip over them - they are intended to be basic advice for newbies.
Denise's "canned" response is valid to the daily 1 time posting of XYZ, LLC wants $ 3500 to get me out of my timeshare or ABC LLC has a buyer and they want $ 1,900 in title search, taxes and or closing fees.
These drive by posters will never take the time to search and come to a viable conclusion
All she is doing is advocating cutting out the middleman and reaching for the optimal solution of transferring to a dues paying owner
However I do take offense in you a relative newbie comparing Denise's contributions and hours of vounteer effort to the perpetual Sh$% stirrer e.Bram
I dont think Denise or e.Bram need any help defending themselves. so I wont apologise to you, but I will apologise to e.Bram for comparing him to Denise, and to Denise for comparing her to e.Bram
I tried to make it clear that I think Denise's advice is good advice, and as long as people ask about selling their timeshare, its advice that needs to be posted..over and over again (Im just tired of it)
You are right...I am new here, Denise and e.Bram have been here longer..and as I understand it neither gets paid for their time here....and I read their posts and all the others here in the same way....looking for the something new I can learn ...and I have learned something from both of them
I dont mean to compare either one to the other...just the fact that they both post repeatedly on the same subject
BTW I have more fun reading e.Brams posts....Im something of a "Sh$% stirrer" myself
Denise's "canned" response is valid to the daily 1 time posting of XYZ, LLC wants $ 3500 to get me out of my timeshare or ABC LLC has a buyer and they want $ 1,900 in title search, taxes and or closing fees.
These drive by posters will never take the time to search and come to a viable conclusion
All she is doing is advocating cutting out the middleman and reaching for the optimal solution of transferring to a dues paying owner
However I do take offense in you a relative newbie comparing Denise's contributions and hours of vounteer effort to the perpetual Sh$% stirrer e.Bram
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