Innseason TS selling

[e.bram]

Innseson will no longer allow you to transfer deed. They demand you transfer to deed to HOA and issue a lease to new "owner".
How will this affect ability to sell TS?

 

[TUGBrian]

so many questions...

starting with how/where/what was this actual language and or announcement to owners?

 

[callwill]

Is it really deeded ownership or is it a vacation club?

 

[e.bram]

Deeded!

 

[WorldT]

Can you share a copy of the actual announcement? This are public documents, just block out your personal information.

 

[zuko67]

Back in 2013 there was an approved process through all of the InnSeason Resorts with the assistance of legal counsel to move all deeds (upon change of ownership) to a Master Trust that hold the title and for the benefit of owners, then issues new owners a Certificate of Beneficial Interest for that specific unit and week. The Boards of Directors at that time of those properties were being killed with scam companies filing bogus deeds at the local Registry of Deeds while putting the deeds into Ghost LLCs that couldn't be tracked to clear title. IT was a big problem for many legacy resorts as well. There were even folks on this site who advocated for abandoning title to their timeshares by putting them into an LLC, which is bad for everyone.

By doing this process for any changes of ownership, this helps the HOA to be able to recover the underlying intervals quicker and with less cost than a judicial foreclosure process and helps keep the HOA stronger financially. The Certificate of Beneficial Interest to the owners provide for all the same benefits and rights, except when they are delinquent for multiple years of assessments, then they will need to pay the excessively delinquent fees to prevent the HOA from exercising the right to recover the interval for non-payment of dues.
The trust environment also makes it easier for name changes and other changes, since the cost to record is cheaper when a recording is needed.

The policy was changed in 2013 and thousands of changes of ownership have occurred since then without any hiccups for those who wish to sell or transfer their Beneficial Interest of their specific unit and week. I have owned deeded and now own 3 with the Certificate of Beneficial Interest at InnSeason Resorts and it's not considered a negative in my mind since I want the resort to take back severely delinquent inventory as cheaply as possible and get it back into the hands of dues paying owners.

Owners of those resorts can view a bunch of information when they log into their InnSeason account and go to the Owners Library.
InnSeason Management also does reviews of all changes of ownership for its resorts to make sure there are no recordings done without following the process approved by the Associations, which has made it more difficult for scammers to target our resorts and helps us keep our fees down. My fees at Falls at Ogunquit are below $700 a year for a 1 bedroom, which is close to the beach and does many updates and upgrades to its units.

And E.Bram is correct, this is not related to the InnSeason Vacation Club, but the traditional unit and week owners at the InnSeason properties.

 

[swditz]

Back in 2013 there was an approved process through all of the InnSeason Resorts with the assistance of legal counsel to move all deeds (upon change of ownership) to a Master Trust that hold the title and for the benefit of owners, then issues new owners a Certificate of Beneficial Interest for that specific unit and week. The Boards of Directors at that time of those properties were being killed with scam companies filing bogus deeds at the local Registry of Deeds while putting the deeds into Ghost LLCs that couldn't be tracked to clear title. IT was a big problem for many legacy resorts as well. There were even folks on this site who advocated for abandoning title to their timeshares by putting them into an LLC, which is bad for everyone.

By doing this process for any changes of ownership, this helps the HOA to be able to recover the underlying intervals quicker and with less cost than a judicial foreclosure process and helps keep the HOA stronger financially. The Certificate of Beneficial Interest to the owners provide for all the same benefits and rights, except when they are delinquent for multiple years of assessments, then they will need to pay the excessively delinquent fees to prevent the HOA from exercising the right to recover the interval for non-payment of dues.
The trust environment also makes it easier for name changes and other changes, since the cost to record is cheaper when a recording is needed.

The policy was changed in 2013 and thousands of changes of ownership have occurred since then without any hiccups for those who wish to sell or transfer their Beneficial Interest of their specific unit and week. I have owned deeded and now own 3 with the Certificate of Beneficial Interest at InnSeason Resorts and it's not considered a negative in my mind since I want the resort to take back severely delinquent inventory as cheaply as possible and get it back into the hands of dues paying owners.

Owners of those resorts can view a bunch of information when they log into their InnSeason account and go to the Owners Library.
InnSeason Management also does reviews of all changes of ownership for its resorts to make sure there are no recordings done without following the process approved by the Associations, which has made it more difficult for scammers to target our resorts and helps us keep our fees down. My fees at Falls at Ogunquit are below $700 a year for a 1 bedroom, which is close to the beach and does many updates and upgrades to its units.

And E.Bram is correct, this is not related to the InnSeason Vacation Club, but the traditional unit and week owners at the InnSeason properties.

Just to.add I have three traditional units as well as the vacation club. Transferring ownership is a breeze and goes pretty quick when all parties get their paperwork in.