Email from www.communityhealthtraining.org/Timeshares/

[BocaBum99]

3. The issue of 36 months is an IRS regulation. Simply put the deed can not be resold during that 36 months or the new resale value can be used to determine the actual value of that specific donation. Without that resale the $5,000 limit holds.

The above is incorrect. When you are audited by the IRS, the burden of proof is on the taxpayer. The original owner will have to produce real data that supports their claim of $5000 fair market value. The won't be able to do it and will fail the audit.

Typically, the penalty and interest is more than the original amount due.

What Dr Rich is actually saying is that since he will not be "selling" the property for 3 years, he does not have to file a 1098-C. That document, if filed, will automatically be compared against the deduction taken by the owner on their tax return. If there is a discrepancy, there is a good chance that an audit flag will be triggered. If it is not filed, then the risk of audit goes down significantly. That means you probability of getting away with tax evasion goes up, but it is still tax evasion. That is what is not being said in this conversation.

I would not take a charitable deduction when using Dr. Rich's services.

 

[DeniseM]

I find it offensive that an HOA board can hold an owner hostage when it is their actions or lack thereof that prevents the owner from liquidating their position in the first place. If the HOA won't take action, then Dr. Rich is a solution that I can support to level the playing field for the owner.

What about the rights of the other owners at the resort that don't plan to default on their contractual obligation, and will have to pay the maintenance fees for those who do? Why should the people who are going to bail out come first?

Your pat answers about how the HOA's should take back all deeds, and just snap their fingers and whip the resort into shape so they can do that, sound great, but everyone here knows that it isn't nearly that easy, and it ignores the board's fiduciary obligation to the paying owners.

I have noticed that lately you are very defensive and even angry when this topic comes up - why is that?

 

[timeos2]

"Fraudulent Conveyance:

A transfer of property that is made to swindle, hinder, or delay a creditor, or to put such property beyond his or her reach.

A debtor who has fraudulently transferred property to cheat his or her creditors might also be subject to statutory penalties and criminal prosecution, depending upon the law in the debtor's home state "

From free-legal dictionary

Now how much clearer does anyone have to be that if you attempt to transfer an ownership that requires payments as part of the ownership deed to a person/llc/corporation/charity, etc that clearly states they do not plan to use it, sell it or pay any charges due on it is fraud have to be? And note it is the debtor - the current legal owner - that can also be subject to penalties & prosecution.

It is so easy for those that don't actually deal with these things to sit back & pontificate. It is a different world when you actually deal with the owners, lawyers, deed recording, courts, state regulations and legislators and more. You find out how the real world operates and just how important & enforceable contracts are. It is unfortunate that far too many developers use that against owners while it is critical that HOA's can depend on it as it is the very basis of the existence for the properties they are charged with operating & maintaining.

The other straw man arguments about rental value vs fees have already been disproved so this appears to be the last stand of those wanting an easy out to commitments made. Too bad the same folks that buy into the idea of prepaid vacations / easy trades/ etc at the sales presentations are often easy prey for those who want to relieve them of more of their money in the false belief they are taking the "only way out" of a deal they willingly signed and agreed to.

 

[ronparise]

Dr. Rich - what is your doctorate in?

Why is that important to anything under discussion here.?..

Lets assume he has a PhD in chemistry and continue on

 

[ronparise]

"Fraudulent Conveyance:

A transfer of property that is made to swindle, hinder, or delay a creditor, or to put such property beyond his or her reach.

Thats probably a good definition of fraud, but what does it have to do with Dr Rich's operation.. If we assume the creditor is an HOA..the timeshare is not out of their reach...They can still foreclose of just ask for it back..they will get it Im sure

 

[ronparise]

What about the rights of the other owners at the resort that don't plan to default on their contractual obligation, and will have to pay the maintenance fees for those who do? Why should the people who are going to bail out come first?

Your pat answers about how the HOA's should take back all deeds, and just snap their fingers and whip the resort into shape so they can do that, sound great, but everyone here knows that it isn't nearly that easy, and it ignores the board's fiduciary obligation to the paying owners.

I have noticed that lately you are very defensive and even angry when this topic comes up - why is that?

The other owners still have the right to pay their fees and they still have the right to use the resort... They also have the right not to pay their fees, and give up their right to use the resort...nothing has changed for them...except of course their fees will go up...

Dr Richs operation changes nothing here...all the owners have always had these rights

Denise, what you seem to be missing is that an operation like Dr Richs helps the HOA . He doesnt hurt it . ...face it. Someone that uses Dr Riches service isnt going to be paying their fees...does it really matter if the original owner doesnt pay or Dr Rich dosent pay..The fees arent being paid in either case,, The HOA can get the deed back, in order to resell or to rent without the hassle and expense of a foreclosure...and until they decide to take it back, at least its being held in Dr Rich's vault, not some bankrupt corporation or LLC

 

[flexible]

I guess it's time to answer this thread. I'm Dr. Ken Rich. That's my real name and I'm a retired Doctor of Chiropractic (DC). I work for Community Health Training, Inc. I'll try to keep this simple and not fill it with direct legal or IRS quotes. However, I'm more than willing and able to back up everything I say with more than sufficient references. The last complainant, "jayjay" finally simply refused to believe what the IRS actually prints on their website and in their regulations.

First, CHT is a private foundation organized as a full corporation, not a LLC. As such it can accept and process any and all donations on the same basis as any 501(c)3 corporation except for one caveat. Any donation to CHT that the donor decides to claim as an income deduction is limited to no more than 50% of the donor adjusted gross income. That doesn't mean when added to other donations. It applies only to the specific donation. i.e. if a $5,000 donation credit is claimed the donor can have an AGI of no more than $10,000 for the year. At the same time, the other $5,000 of income could have been donated to a 501(c)3 and the full $10,000 of income can be offset.

As for the $5,000 donation credit, that is up to the donor. They don't have to claim anything. However, the IRS specifically states that up to $5,000 can be claimed without an appraisal. And if an appraisal is done the IRS says it is not supposed to include distressed sales like the $1 eBay sales. In fact, specific requirements are such that almost the only comparables that can be included are actual resort retail sales or what an actual replacement unit would cost if purchased from the resort.

The only recourse to any owner for unpaid bills is as stated in the above quote. As described, CHT has no assets, is more than willing to allow a foreclosure and even willing to deed the TS back to the resort if they want it. Unfortunately most don't want it back. There is nothing illegal about this. It is fully according to the credit laws of all states.

There is no fraud involved. Fraud is "A false representation of a matter of fact—whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed—that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury." Everything is fully disclosed. However, since a resort is not party to a deed transfer, the property has no current debt against it, and their future billing is arbitrary, there is no legal requirement to notify them. However, if they choose to visit our website, its all there for them to read.

As for a resort refusing to allow the deed transfer, they have no such legal right. As far as they can go is to have in writing in the original sales contract a clause called "First Right of Refusal". The limit of this is that the resort must either accept and fulfill the position of the taker of the deed and thus free the donor according to the terms of the offer or refuse to take that position. Once they have refused such an offer, they have no legal right to block any transfer.

The only legitimate complaint anywhere is that since the HOA doesn't get the billed income, other owners have to make up for the difference. Sorry, that's a fact of life. Whether intentional or due to circumstances income must balance expenses.

The real fix for this is not to slander this process. Fix the problem! Far too many owners have asked for help in getting out of their timeshare only to find there is no help. Why doesn't the HOA require the resort to take back titles for free or for a minimal fee so it can be resold again? Why wait for 3 years of nonpayment and then ask the poor owner to pay all those back accumulated fees they couldn't afford to begin with? What possible additional cost is there to adding another free timeshare for sale that has already been built and has no investment cost in it?

The only argument I've heard is, "Pay up or else!" Well, we let other people donate a nominal fee so we can just accept their position of "or else" for them.

Please don't turn this into a bashing contest. That's not what the administrators want. I've added information here for better understanding.

Hello Dr. Ken Rich,

After scanning your post and replies, I would be grateful if you have time to reply. I am sincerely confused.

IRS 501(c)3 and other tax exempt status levels are very complex to obtain and retain.

RE: www.communityhealthtraining.org/Timeshares/ Is the purpose of your organization as stated in your original IRS application for a non profit organization with a tax exempt purpose from the IRS applications online? If so, please let us know where to find it on your website.

Is http://www.communityhealthtraining.org/CHT.htm your current organization's mission statement?

Does the purpose stated in your IRS application include helping timeshare owners? Is it part of your outreach for Elder Care?

Community Health Training, Inc. is a federally mandated non-profit organization dedicated to bringing health care information and training to the community for free or at minimal cost. If you are interest in receiving a tax write off for a donation please check here.

It does not provide health care. Through it's trainers, all volunteers, it puts on workshops and seminars for the public in those areas in which the trainer is expert. On occasion it provides similar seminars to other health care professionals. At present those seminars are only held in the Southern California area. However, the information on this web site may be helpful to anyone anywhere.

This web site is copyrighted.
However, permission for the use and reproduction of any material herein for private or professional use is granted so long as the CHT, Inc. and this web site are acknowledged in writing or display with it's use with the material used.
No commercial use for any of this material is granted.

Currently this web site is populated with information regarding:
Non-drug control of pain through Trigger Point Therapy

Future plans include:
Diet for weight loss
Nutrition for a healthier lifestyle
Simple yet effective exercise for any age
Work in partnership with your doctor
Getting the most from physical rehab
Living with stress
Elder care



Perhaps if a fully deeded timeshare was donated with a trust fund for the balance of all associated fees. But the FMV would be less than the cost to donate, so I am unaware of this.

I have yet to meet anyone who actually claimed a tax donation for use or ownership of a timeshare.

 

[pacodemountainside]

It is simple. .

Have to disagree with you!


"It is simple. The HOA controls the budget. If they mismanage owner's funds, the maintenance fees are too high. When maintenance fees are higher than what units will rent for, then the resort has zero value. The HOA must take dramatic action to cut costs to make the resort viable. If that is not possible, they need to forward a proposal to terminate the timeshare plan and put it up for vote. Any HOA that attempts the above is doing their job."

You read my post but obviously did not understand! The owner controlled BOD inherits the Developer mess and contracts.. In reality Wyndham annoited GM runs the place and does budget. Like the Federal budget many items are simply fixed or ready to serve and beyond BOD to change. What would you suggest be cut? Half the check in staff! Mow the lawn every two weeks. Stop outside window washing! Lock room temperature at 70! Eliminate Disney shuttle bus at BC? Yes, the property taxes could be cut if tax assessment based on original selling price rather than current market is updated!. Wyndhams CWA fee which is average of some 56 resorts was $4.82/ 1,000 in 2010, $4.84/1,000 in 2011 and $4.89/1,000 in 2012. or $.07/1,000 increase or $7.00 over three years for a regular 1 BR. No way in Hell you can convince me this caused default. An ARM that goes up a $100 a month is different situation! Simply put original purchaser was scammed into buying something he could not afford or needed to adjust budget! Why should other owners pay for his extravagent life style? With a 70-80% vote required, termination is devoid of merit!



"If timeshare units have value, then the HOA will be delighted to take back deeds. They can offer them up for rent or to other owners and the excess profit can go right toward the resort budget. Everyone wins. If the timeshare units do not have value, then the HOA is not doing their job unless they take the steps I have outlined above and failed."



FMV is determined by market place like ebay for buying, selling and renting! Why do Disney and Marriott have value? It is not their BODs have vastly superior talents. It is Developers philosophy and business acumem of long term relationship not screw today and find new sucker tomorrow . I did sign up for Disney pitch while at Epcot. Met with nice gal in an office, showed me property, explained program and she gave me a proposal that was good for 30 days to check out at my convenience. No bull pen nor 5 day recission! Have never had a body snatcher on the street offer a Disney or Marriott sales pitch!


"The only entity that can take action to solve the problem is the HOA board. I find it offensive that an HOA board can hold an owner hostage when it is their actions or lack thereof that prevents the owner from liquidating their position in the first place. If the HOA won't take action, then Dr. Rich is a solution that I can support to level the playing field for the owner."



Where do you get off HOA which is all of the individual owners should bail out dead beat rather than protecting all the owners best interests? Owner is free to "sell" for FMV. What about Face Book stock buyer who though it was worth $42 or even a $100 and market says around $25. Who should bail them out for bad judgment?


Today I think most financial hardships have gone on Viking ships and we are seeing buyers remorse. People that can pay DOC $500 or PCCs several thousand are just worried about credit rating not owning up to bad judgment!


I would bet the farm if Developers offered a buy back program say at 22% of original cost which is Wyndhams brick and motar cost the PCCs and DOC Rich would vaporize! Why don't you try that theory of the case rather than beating up fellow owners?

 

[timeos2]

Thats probably a good definition of fraud, but what does it have to do with Dr Rich's operation.. If we assume the creditor is an HOA..the timeshare is not out of their reach...They can still foreclose of just ask for it back..they will get it Im sure

"Fraudulent Intent:


Whether a transaction constitutes a fraudulent conveyance depends upon the existence of the intent to defraud at the time that the challenged transfer was made. Because it may be difficult for the courts to determine an individual's intent, rules have been established to help in the process. Such rules are called "badges of fraud." For example, if the Transfer of Assets was concealed, an inference of Fraud can be made. The failure to record a conveyance, such as a deed to land, might indicate the existence of fraud. Another example is if the transfer included virtually all of the debtor's assets. If a voluntary conveyance renders a debtor insolvent or leaves the debtor without the means of paying the debts existing at the time of the conveyance, it is fraudulent and without any legal effect, regardless of the intent of the parties."

And it those rules (tests if you want) such as the STATED INTENT NOT TO USE, SELL OR PAY DEBTS DUE that can establish the fraudulent intent. The legal system frowns on those who try to pervert it to fit their desires. That type of abuse of the system, which this type of fraudulent transfer clearly is, is usually dealt with by rules, laws and/or prosecution.

 

[timeos2]

A very good article to resorts from January 2011 regarding this issue and step they can & should take to stop these operations.

 

[timeos2]

If you have specific laws, attorneys, title agents or brokers and/or cases which support your opinions, please cite them

"The resale scheme also potentially
involves both the “rescue company” and/
or an affiliated “closing company” and the
timeshare owner in a fraudulent transfer as
defined by the Uniform Fraudulent Transfer
Act, which has been adopted in more
than 25 states. In Colorado, the Uniform
Fraudulent Transfer Act is codified at C.R.S.
§ 38-8-101 et. Seq. C.R.S. § 38-8-105, Transfers
Fraudulent as to Present and Future
Creditors, and case law interpreting the section
provide the legal basis for concluding
that certain rescue company activities may
constitute fraudulent transfers in Colorado.
This section provides: “A transfer made or
obligation incurred by a debtor is fraudulent
as to a creditor, whether the creditor’s claim
arose before or after the transfer was made
or the obligation was incurred, if the debtor
made the transfer or incurred the obligation:
(a) with actual intent to hinder, delay
or defraud any creditor of the debtor…”. The
association is a creditor of both the selling
owner and the transferee."

As adopted in 25 States so far - more are planning action soon.

Is that codified enough for you? It is for the Courts.

 

[DeniseM]

Why is that important to anything under discussion here.?..Lets assume he has a PhD in chemistry and continue on

I think it's very important. He claims to have a medical charity and calls himself Dr. - I'd like to know what his degree is in, and see the official yearly report on his charity.

Feel free to "move on" I don't need your permission to ask a perfectly reasonable question.

Dr. Rich - can you please post a list of the medical seminars your charity has funded in the last year?

 

[DeniseM]

Denise, what you seem to be missing is that an operation like Dr Richs helps the HOA . He doesnt hurt it . ...face it. Someone that uses Dr Riches service isnt going to be paying their fees...does it really matter if the original owner doesnt pay or Dr Rich dosent pay..The fees arent being paid in either case,, The HOA can get the deed back, in order to resell or to rent without the hassle and expense of a foreclosure...and until they decide to take it back, at least its being held in Dr Rich's vault, not some bankrupt corporation or LLC

Helps the HOA? Seriously?

A company like this can overwhelm an HOA with more deedbacks than they can handle in a short period of time. This infringes on the rights of the owners who are not defaulting on their deeds, and could throw a health resort budget into chaos.

The interests of the resort, and the interests of PAYING owners, should come before deadbeats.

 

[ronparise]

In a perfect world.....if I was in charge, Id add just three small changes to Dr Riches operation

1) Id not mention the IRS or tax deductions at all
2) Id require the donor to make the timeshare available to the hoa first
3) Assuming the HOA is run by folks like Denise and John, and they turned down the first offer. Once I owned it Id again make it available to the hoa (without having to wait 3 years

 

[ronparise]

Helps the HOA? Seriously?

A company like this can overwhelm an HOA with more deedbacks than they can handle in a short period of time. This infringes on the rights of the owners who are not defaulting on their deeds, and could throw a health resort budget into chaos.

The interests of the resort, and the interests of PAYING owners, should come before deadbeats.

There is no flood of deedbacks. the deeds are safely in the hands of the Doctors corporation. They can be metered back to the hoa on whatever schedule they like...all they have to do is ask

It is in the interest of the paying owners for the hoa's to put operations like Dr Riches out of business by moving deed backs to become their first response to a non paying owner, rather than their last resort

 

[timeos2]

Helps the HOA? Seriously?

A company like this can overwhelm an HOA with more deedbacks than they can handle in a short period of time. This infringes on the rights of the owners who are not defaulting on their deeds, and could throw a health resort budget into chaos.

The interests of the resort, and the interests of PAYING owners, should come before deadbeats.

WHAT? The (average) 85%+ that honor what they signed and properly deal with the property when they are ready to be out are more important than the 3-4% which want to force the others to pay for what they now consider to be a mistake? Horrors! What school of responsibility did you attend? Simply incredible that people should be held responsible for their choices. Hrrmmphhh!

 

[flexible]

I think it's very important. He claims to have a medical charity and calls himself Dr. - I'd like to know what his degree is in, and see the official yearly report on his charity.

Dr. Rich - can you please post a list of the medical seminars your charity has funded in the last year?

Denise,
Thank you for all your contributions to TUG. I am among those that forget to say thank you especially if we exchange PMs.

I'll try to find the website with the 990s. I think that is what Dr. Ken Rich would be required to file annually. I've read many 990s online.

http://foundationcenter.org/findfunders/990finder/
http://www.guidestar.org/
"It's usually pretty easy to find a company's 990 form. Many organizations post their 990s on their website. There are also some organizations such as Guidestar that collect the 990 forms for various charities and post them online."

I'm open minded and not ready to judge what is going on. But I am very confused. And if it was as simple as some people think, then Brian, Denise or others with a respectable reputation on TUG could form a nonprofit for the stated purpose. But IF they did, I would guess they would be upfront and tell the timeshare company or HOA that the new organization the title is being transferred to does not intend to pay bills.

We have reduced our portfolio but have never considered PCCs or similar companies. And we have yet to just 'walk away.' But I have empathy for some elderly people that might be in nursing homes and have no idea what to do with their timeshares.

Many of the first timeshare owners who purchased in the 1970s (perhaps) 40 years ago when they were retiring in their 60s and perhaps some who planned to retire and purchased when they were past 40 years old are now over 80. My husband will be 86 in August. His children do not want the burden of his portfolio. I have no children.

Every situation is different. I think I would be less confused if there was NO mention of charitable purpose, tax deductions. If a law firm perhaps specializing in elder law, trust law, real estate offered to transfer titles to a corporation they controlled, there MIGHT be a business model which would be mutually beneficial to all concerned.

Resorts should be capable of hiring people able to sell the inventory. I believe Pono Kai had an employee in Kauai who did that. They also posted the foreclosure listings prior to the courthouse auctions. Younger people might obtain a great deal purchasing a deeded resort at the reduced cost or at the courthouse foreclosure sale.

Most people over 85 lack the desire or capacity to place ads, find people to rent or buy etc. In my husband's case he is in great health but can't be bothered to waste time dealing with the portfolio. So I make reservations for timeshares and cruises with timeshare points, then we tell the few people we've known what are excess inventory is left. I wish I understood a better business model for pricing and had the patience to price high with room to compromise. It is just easier to make a quick calculation of our costs and offer it for costs without consideration of our purchase cost.

 

[timeos2]

There is no flood of deedbacks. the deeds are safely in the hands of the Doctors corporation. They can be metered back to the hoa on whatever schedule they like...all they have to do is ask

It is in the interest of the paying owners for the hoa's to put operations like Dr Riches out of business by moving deed backs to become their first response to a non paying owner, rather than their last resort

As I no longer own in Wyndham I really hope one of your Wyndham resorts decides to operate in your suggested mode. And that you don't get out quick enough to avoid the disastrous results of that irresponsible decision by the Wyndham controlled HOA. If ever there was a case of failed fiduciary obligation to the owners that would be it. In that case I'd only feel sorry for the owners who trusted in the law but not Wyndham or those who proclaimed that these scams are "good" and "necessary". Hopefully they would end up paying the unbelievable bill.

 

[ronparise]

I think it's very important. He claims to have a medical charity and calls himself Dr. - I'd like to know what his degree is in, and see the official yearly report on his charity.

Feel free to "move on" I don't need your permission to ask a perfectly reasonable question.

Dr. Rich - can you please post a list of the medical seminars your charity has funded in the last year?

So Denise ...are you saying that if instead of a non profit charity, a regular person (not a doctor) operated a for profit corporation, that was taking in timeshares and holding them until the hoa asked for them back, and then they got them back...that would be ok and meet with your approval?

I would think not, and if not, the bogus charity, the bogus tax advice and a fake doctor title, really dont make a difference. You wouldnt approve even if he is a real doctor, qualified to give tax advice, operating a real charity,

Ive already made the point that ethics dont enter into this discussion either.

So my only question is...Is it legal?...and if not what law has been broken and what is the penalty for breaking it.

 

[DeniseM]

There is no flood of deedbacks. the deeds are safely in the hands of the Doctors corporation. They can be metered back to the hoa on whatever schedule they like...all they have to do is ask

It doesn't matter if they are metered back or not - no one is paying the maintenance fees!

In the meantime, the naive former owner has dumped his timeshare, taken an illegal tax deduction, and patted himself on the back for donating to "charity."

This is the bottom line - it's bad for for the stability of the whole timeshare industry and it's bad for responsible owners.

 

[ronparise]

As I no longer own in Wyndham I really hope one of your Wyndham resorts decides to operate in your suggested mode. And that you don't get out quick enough to avoid the disastrous results of that irresponsible decision by the Wyndham controlled HOA. If ever there was a case of failed fiduciary obligation to the owners that would be it. In that case I'd only feel sorry for the owners who trusted in the law but not Wyndham or those who proclaimed that these scams are "good" and "necessary". Hopefully they would end up paying the unbelievable bill.

John

I am a Wyndham owner, and if the number of defaults becomes so large that my mf becomes a burden...Ill default...Ill give the hoa an opportunity to take my deeds back, then Ill try to give it away, but in the end I expect Ill just wait for them to foreclose

My point has been and continues to be that accepting a deedback is better (for the hoa) than a foreclosure....but either way, In the end the hoa has to deal with it

 

[ronparise]

It doesn't matter if they are metered back or not - no one is paying the maintenance fees!

In the meantime, the naive former owner has dumped his timeshare, taken an illegal tax deduction, and patted himself on the back for donating to "charity."

This is the bottom line - it's bad for for the stability of the whole timeshare industry and it's bad for responsible owners.

Denise...You have clearly missed the point...... What we have been talking about are timeshares where no one is paying the fees The tax deduction and the pat on the back are non issues...and if thats all thats bothering you...Ill take your unwanted deeds

Perhaps you can come up with a better solution in these cases where no one is paying the fees, but I dont think it makes sense to attack the good doctors model unless you have something better to offer...and you dont or at least you haven't shared them here

 

[ronparise]

It doesn't matter if they are metered back or not - no one is paying the maintenance fees!

In the meantime, the naive former owner has dumped his timeshare, taken an illegal tax deduction, and patted himself on the back for donating to "charity."

This is the bottom line - it's bad for for the stability of the whole timeshare industry and it's bad for responsible owners.

But its not bad for the well run resorts that accept deedbacks and have a sales and rental department or some other mechanism in place to deal with them

 

[AwayWeGo]

Adjusting Those Touchy Subluxations.

I'd like to know what his degree is in, and see the official yearly report on his charity.

He said he's a retired chiropractor -- not that there's anything wrong with that.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[DeniseM]

Denise...You have clearly missed the point...... What we have been talking about are timeshares where no one is paying the fees

Based on what Dr. Rich said above, this is not correct. He stated above that the maintenance fees must be current to donate to him. So "donating" your timeshare to this company turns a dues paying owner into a deadbeat!

I have as much sympathy as anyone for people with REAL financial problems, but people with real financial problems don't have spare cash sitting around to buy into this scheme. This method of dumping your timeshare is for people WITH MONEY. A person with REAL financial problems, who was already in arrears on his timeshare, would not qualify!

Yes, I do have a problem with the "charity" aspect of this scheme, because it lures people into thinking that they are entitled to a tax right off, and makes them believe that they are doing a good thing - rather than what they are really doing: defaulting on their contractual obligation and putting a burden on responsible owners. Promoting this as a charity, just tarnishes this scheme that much more.

I would much rather that someone start an honest for-profit business, rather than lulling unsuspecting owners into thinking that most of their money goes to charity, and that they are some how doing a good thing - which justifies defaulting on their maintenance fees.

Since this is a registered charity - they are required by law to disclose how much of their earnings actually goes towards charity - I can't wait to see the numbers...

Perhaps you can come up with a better solution in these cases where no one is paying the fees, but I dont think it makes sense to attack the good doctors model unless you have something better to offer...and you dont or at least you haven't shared them here

I can't say that in my opinion something is unethical, unless I can solve the problem myself? Huh? I can't solve crime, war, or pollution, either, but that doesn't mean I have to accept them!