John Oliver’s take on Timeshares

[JeffC]

From John Oliver’s show last night. Let’s say he’s not a fan. ** Strong language in this video **

 

[HuskerATL]

Interesting episode. The Sponge Bob part made me laugh and the part about Timeshare sale's folks saving lives just like doctors and nurses....

,

 

[Iggyearl]

Chillingly real, comprehensive and humorous. He covered all the bases, including dumping on Dave Ramsey.

 

[ScoopKona]

Proof that one person's trash is another person's treasure. Our timeshare is the best toy we ever purchased. It has saved us an extraordinary amount of money vacationing. And it is only with the advent of AirBnB that a viable alternative even exists.

 

[CalGalTraveler]

Well done. I wish he had covered resales but too complicated for TV.

 

[CalGalTraveler]

+1 @ScoopKona The best (and most honest timeshare exit) is a resale deed. We have saved a ton with our resales.

 

[CalGalTraveler]

I would like a lawyer to weigh in on the requirement he cites for heirs to file a disclaimer by 9 months. Is that a Utah regulation only for deeds based in Utah? or is this a universal law? (in some ways his statement is feeding into exit industry fearmongering.)

What if no action is taken and no MF paid. Is that equivalent to abandonment/walking and would fall under the state timeshare laws in the Sticky prepared by @Grammarhero? If in a trust, would it fall back to the trust which will be eventually dissolved (and you don't care about the trust's creditworthiness anyway.)

 

[HuskerATL]

yes, resale changes part of the economic issue, still MFs for life, but if you remove that initial big cost, it probably changes the discussion....less sexy content for John.

 

[The Colorado Kid]

yes, it changes part of the economic issue, still MFs for life, but if you remove that initial big cost, it probably changes the discussion....less sexy content for John.

@HuskerATL Well said

 

[TUGBrian]

was actually interviewed multiple times for this story...looking forward to watching it (they werent sure it was going to air until the last minute).

glad its gotten a thumbs up sofar!

 

[HuskerATL]

Of course, John Oliver can deliver boring content in a way that drives the point home while making you laugh your butt off......should be required watching for all US citizens...

 

[TUGBrian]

got a chuckle out of the 200% success rate where "another random person is also satisfied on your behalf"

 

[TUGBrian]

Well done. I wish he had covered resales but too complicated for TV.

was also disappointed they didnt give at least a few lines about resale (or at least suggesting offering it up for free as an exit option), but overall I enjoyed the video!

 

[TUGBrian]

I would like a lawyer to weigh in on the requirement he cites for heirs to file a disclaimer by 9 months. Is that a Utah regulation only for deeds based in Utah? or is this a universal law? (in some ways his statement is feeding into exit industry fearmongering.)

What if no action is taken and no MF paid. Is that equivalent to abandonment/walking and would fall under the state timeshare laws in the Sticky prepared by @Grammarhero? If in a trust, would it fall back to the trust which will be eventually dissolved (and you don't care about the trust's creditworthiness anyway.)

this was a sticking point with me and one of the producers, we had multiple calls on it regarding folks "inheriting by default"

id imagine they used the utah specific law as it was the most sensational to get the point across.

 

[TUGBrian]

yes, it changes part of the economic issue, still MFs for life, but if you remove that initial big cost, it probably changes the discussion....less sexy content for John.

agreed, the entire focus of this episode was timeshare = bad in all flavors.

I can see why they wouldnt promote something that made them attractive

certainly would have hoped they would suggest the option of giving away for free as a legitimate exit solution.

 

[HuskerATL]

They did mention it, on the Redweek part, but made it sound like the buyer is taking advantage of the seller's situation versus giving them an out.

 

[HuskerATL]

was also disappointed they didnt give at least a few lines about resale (or at least suggesting offering it up for free as an exit option), but overall I enjoyed the video!

yes, resale changes it because you are out the initial big cost and probably can sell it for about what you paid for it or be willing to give it away. When we buy resale, we look to get the MFs that we are okay with and a low enough purchase price that we could give it away without too much heartburn.

 

[dioxide45]

Interestingly, it looks like this video is causing a bump in views on my "Dave Ramsey is Wrong About Timeshares" video that I have on my YouTube channel. Seeing higher than normal views on this video today.

 

[HuskerATL]

Interestingly, it looks like this video is causing a bump in views on my "Dave Ramsey is Wrong About Timeshares" video that I have on my YouTube channel. Seeing more than normal views on this video today.

you should add a link here...

 

[dioxide45]

you should add a link here...

I updated my post with the link.

 

[rickandcindy23]

Wyndham's acronym was hilarious. That is definitely what they do.

I think it's also Westin/ Marriott's acronym as well after our last presentation on Maui two years ago. They just made up whatever they could to get us reeled in.

Dave Ramsey looks like a disgusting person in that video where he is bragging on his millions. That's real? He really said that?

 

[DavidnRobin]

Perfect… whether you like JO or not.

Sent from my iPhone using Tapatalk

 

[DavidnRobin]

I put this up on TUG Facebook group and it was removed.
TugBrian. Why?


Sent from my iPhone using Tapatalk

 

[alexadeparis]

I would like a lawyer to weigh in on the requirement he cites for heirs to file a disclaimer by 9 months. Is that a Utah regulation only for deeds based in Utah? or is this a universal law? (in some ways his statement is feeding into exit industry fearmongering.)

What if no action is taken and no MF paid. Is that equivalent to abandonment/walking and would fall under the state timeshare laws in the Sticky prepared by @Grammarhero? If in a trust, would it fall back to the trust which will be eventually dissolved (and you don't care about the trust's creditworthiness anyway.)

Yes, all heirs would have to disclaim the timeshare if not left to a specific person, and it would go in age order, essentially. That being said, it's usually a one page declaration at least in the states i practice in. For me personally, I plan on getting rid of most of them once i am a widow, to avoid this. For now, my will gives my timeshares to my relatives i don't speak to, so just those relatives have to disclaim.

 

[alexadeparis]

I watched it last night. In general i agree with what he said about wastegate and wyndham. Of course this group of people on TUG, that has learned how to use timeshare, is likely the outlier/exception. It was intended to alert the general public, but it makes it more difficult to explain the true benefits of timeshare when people watch this sensational stuff. Then they look at me like i'm stupid for owning and using them.