John Oliver’s take on Timeshares

[T-Dot-Traveller]

You could use a free vpn.

Bill

true - but most of the stuff you can't watch - isn't worth watching

 

[Ken555]

That was awesome!

And the more f-bombs the better when it comes to retail timeshare sales.

 

[ScoopKona]

That was awesome!

And the more f-bombs the better when it comes to retail timeshare sales.

I paid retail. I bought it from myself and enjoyed the commission. Still paid too much.

But I have saved so much in nearly 30 years of doing this that I could walk away from my timeshare tomorrow. It owes me nothing. All I did was follow my sales pitch to the letter.

 

[TUGBrian]

Hi @TUGBrian
The videos in this thread currently cannot be viewed in Canada

Video Unavailable-" the uploader has not made this video available in your country "

If a workaround exists for the newsletter -please use / if not I will just enjoy everyone's comments.

that is a youtube thing vs a tug/forum thing unfortunately!

if you happen to have hbomax you should be able to watch the episode online there?

 

[alexadeparis]

What a great parting gift for relatives that you don't care for....

Exactly.

 

[alexadeparis]

Here is a sample of a disclaimer although each court may have its own form. (And don’t forget that the probate usually has to be also be registered in any state that the timeshares are located, too, in order to transfer the deed.)

https://www.pickawaycourt.com/wp-content/uploads/2018/08/No-Administration-Disclaimer-and-Consent-to-Distribution.pdf

 

[TUGBrian]

that seems about as basic as it can get for sure!

 

[alexadeparis]

but it still technically stays in the ESTATE and the estate cant close out etc....

vs automatically transferring the deed to an heir without their action (or signature, etc).

If all heirs disclaim, then the timeshare fees will not be paid for and will eventually be foreclosed. In my limited experience (only about a dozen) you can usually force timeshare co. to accept deed in lieu of foreclosure from executor, once the court order permits everyone to disclaim.

 

[Ken555]

I paid retail. I bought it from myself and enjoyed the commission. Still paid too much.

But I have saved so much in nearly 30 years of doing this that I could walk away from my timeshare tomorrow. It owes me nothing. All I did was follow my sales pitch to the letter.

You get an A for rationalizing your decisions! But then, you were in timeshare sales!

Had you bought resale, you would be in an even better position today.


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[abbekit]

Enjoyed the video. As a general rule it said to me don’t trust anyone in the timeshare sales/exit business. And he didn’t even mention the scammy practices of exchange companies

I inherited my TS in 2000 from my dad who bought in the 1980s. Used it to the max (for exchanges only) for many years of great vacations (and great value back in the day). But what turned us against keeping it were the changes in the timeshare exchange company business (looking at you RCI). Forced into points with the TPU system, high fees to combine leftover TPUs and/or keep them active. And like JO pointed out, it became very hard to use my week, so much inventory seems to be rentals now. We were lucky to be able to do a no fee give back. But we have friends who don’t want theirs anymore but are stuck.

 

[chanakya]

was actually interviewed multiple times for this story...looking forward to watching it

If they truly cared about helping people, which JO purports to through his endless virtue signaling, they should have mentioned this forum and the resale market. This forum has had a real impact by helping so many people rescind their contracts and help create a resale market where people have found value in timeshares.

When I watched the video, I thought the producers may not have done deep enough research. But given your statement, I'm dismayed. It only further reinforces increasingly popular view that media paints a narrative that fits their objectives with half-truths.

 

[Ken555]

When I watched the video, I thought the producers may not have done deep enough research. But given your statement, I'm dismayed. It only further reinforces increasingly popular view that media paints a narrative that fits their objectives with half-truths.

Wait. Are you suggesting that John is a journalist and his program is a “news” show? It’s not entertainment and opinion? Gosh, in that case he’s probably on the wrong cable channel.


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[chanakya]

It is entertainment and opinion.

I'm not sure if I understand your point.

Are you saying that shows like his doesn't impact people's views?

Are you saying that, because his show is entertainment, it can't serve as a tool for advancing a narrative that fits their objectives, even if the narrative is not entirely true?

 

[TUGBrian]

we can (and usually do) pick media articles/stories/etc to pieces in regards to accuracy...or things they missed...this is no exception. Most stories have to cut quite a bit out to meet formatting or time limitations, heck just in my conversations over the phone with the producer likely exceeded 5 to 10x the length of this video...and noone is going to be able to listen to me ramble on for that long on the internet. (present TUG youtube channel subscribers excluded!)

No doubt they also reached out to far more folks than just me to get information, so the amount of data they had to work with must have been staggering! I never expected a piece on this show to make an effort to be educational like the TUG videos are, thats just not what this show does.

however as of late that video has already had more than 2.4m views on youtube alone in 24 hours, and likely more who watched it (or will watch it) on hbomax....which is an astounding number of folks who will hopefully get the message that at the very least, they really need to read a bit more into what they are buying...or more importantly...to maybe think twice before using that exit company!

id consider that a win and the video certainly does more good than harm,

at the very least the video is for damn sure going to ruffle a bunch of feathers in the industry at least in the short term. Sure I would have been overjoyed to see the TUG logo on the screen, or mentioned...but it wasnt in the cards and I would still happily share the information I did with them again if they wanted to do another story or bit on something else timeshare related.

for me (and TUG), its more about getting the message out to owners than it is promoting TUG specifically. sure promoting TUG would make more owners find it and thus get more help...but at the end of the day if something we did here at TUG helped someone avoid getting ripped off, even if we got zero credit for it ill still be happy about it and go to sleep that night knowing TUG made the world just a little bit better that day.

and maybe some random person was also equally satisfied, because here at TUG we strive for 200% satisfaction guaranteed! =D

 

[Ken555]

however as of late that video has already had more than 2.4m views on youtube alone in 24 hours, and likely more who watched it (or will watch it) on hbomax....which is an astounding number of folks who will hopefully get the message that at the very least, they really need to read a bit more into what they are buying...or more importantly...to maybe think twice before using that exit company!

^^THIS

Also, I wouldn’t be at all surprised if you find more interest in TUG in the next few days as people watch the show and start searching for options.


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[TUGBrian]

indeed, traffic was up 30% on the site compared to last monday!

although that could also be related to spring break being over this week as well.

 

[yodaDaenerys]

From John Oliver’s show last night. Let’s say he’s not a fan.

so many truths included in this clip.

 

[CalGalTraveler]

Here is a sample of a disclaimer although each court may have its own form. (And don’t forget that the probate usually has to be also be registered in any state that the timeshares are located, too, in order to transfer the deed.)

https://www.pickawaycourt.com/wp-content/uploads/2018/08/No-Administration-Disclaimer-and-Consent-to-Distribution.pdf

Thank you for posting this example. I have made copies and put it with our important papers.

I have a few more questions @alexadeparis and other lawyers who post on TUG:

Does the process change if you have a revocable living trust (which ultimately becomes a trust after death). i.e. do you need to bother filing since it is the trust that owns it (and trusts don't need credit ratings!) Can it simply remain in the trust after all other assets are distributed, so it dies with the trust. i.e. can beneficiaries of the trust simply notify the trust (instead of the state) that they don't want the asset, the trust stops paying for the timeshare and lets it foreclose?

If process does not change, do you still need to register the trust in any state that the timeshares are located and the trust beneficiaries file these forms?

@TUGBrian can we place this somewhere in a sticky? (perhaps we need a new thread on this important topic?)

 

[dioxide45]

Thank you for posting this example. I have made copies and put it with our important papers.

I have a few more questions @alexadeparis and other lawyers who post on TUG:

Does the process change if you have a revocable living trust (which ultimately becomes a trust after death). i.e. do you need to bother filing since it is the trust that owns it (and trusts don't need credit ratings!) Can it simply remain in the trust after all other assets are distributed, so it dies with the trust. i.e. can beneficiaries of the trust simply notify the trust (instead of the state) that they don't want the asset, the trust stops paying for the timeshare and lets it foreclose?

If process does not change, do you still need to register the trust in any state that the timeshares are located and the trust beneficiaries file these forms?

@TUGBrian can we place this somewhere in a sticky? (perhaps we need a new thread on this important topic?)

I think something like this would be better as a TUG knowledge article. Not sure if that is possible given the type of information it is providing ((legal, estate and financial planning).

 

[funtime2]

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


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I didn't know there was a FB group.... must look for that now. Thanks

 

[vol_90]

Can't wait to hear Dave Ramsey's response. He normally does not back down to a challenge and that was a burn by John Oliver.

 

[Patri]

I think the video was valid and hopefully accomplished its purpose with JO fans. No need to go into the minutiae of resales, etc. The best advice is not to buy. Be warned while your money is still in your pockets. People have great vacations not time sharing. When you own one, it changes the dynamic of trips, and that is not necessarily the best for everyone. Better that a newbie learn about the smart tactics by researching first on TUG or learn from friends/family who truly understand the resale market.

 

[altiste1]

If you’ve seen even one other episode of John Oliver’s show, you’ll know that its whole point, its whole reason for being, is outrage. The angle on every topic he takes on is “look at how terrible this thing is; let’s all get mad together!!” So highlighting a forum where reasonable, intelligent people gather to share helpful information and best practices doesn’t fit the tone or the angle of the show.

I would say there’s a great deal of cynicism here with respect to the timeshare industry’s terrible practices, but not a lot of outrage.

 

[CalGalTraveler]

I think the video was valid and hopefully accomplished its purpose with JO fans. No need to go into the minutiae of resales, etc. The best advice is not to buy. Be warned while your money is still in your pockets. People have great vacations not time sharing. When you own one, it changes the dynamic of trips, and that is not necessarily the best for everyone. Better that a newbie learn about the smart tactics by researching first on TUG or learn from friends/family who truly understand the resale market.

I agree with his premise as to how complicated and messed up the industry is - too many rules by design of the developer. They need new business models that don't have onerous lifetime restrictions for the customer and have less expensive options e.g. 5, 10 and 20 year terms.

I humbly disagree with your premise "not to buy." The best advice is to do your RESEARCH and then decide what is best for your situation (and then buy resale unless there is a unicorn developer deal that makes sense 1% of the time.)

Of course there are many people who should never buy. So if JO's audience are idiots who cannot or will not take time to understand what they are buying, or cannot afford, then yes your advice is correct. I like to think there is more intelligent life out there then a simple message of "Do not buy." Of course such info goes against his outrage and abridged TV headlines.

Reminds me of Dave Ramsey's advice, "Don't sign up for credit cards for the travel bonus." Again two strikes of bad advice from Dave Ramsey...So far I don't think much of this man. However as a travel hacker I am probably not his intended audience.

After almost 10 years into this, I am a very happy timeshare owner. The product is fantastic. I regret buying my first timeshare retail, however I have more than made up for the "sin" by purchasing resale, and saving thousands on travel.

 

[byeloe]

that is a youtube thing vs a tug/forum thing unfortunately!

if you happen to have hbomax you should be able to watch the episode online there?

I used a vpn to view in Canada