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John Oliver’s take on Timeshares

JeffC

JeffC

TUG Member
Joined
Mar 4, 2011
Messages
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Location
Long Island
Resorts Owned
Wyndham Mauna Loa Village, Sweetwater at Kauai, Club La Costa
From John Oliver’s show last night. Let’s say he’s not a fan. ** Strong language in this video **

 
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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, 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.
 
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HuskerATL said:
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.
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@HuskerATL Well said
 
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!
 
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...:)
 
got a chuckle out of the 200% success rate where "another random person is also satisfied on your behalf"
 
CalGalTraveler said:
Well done. I wish he had covered resales but too complicated for TV.
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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!
 
CalGalTraveler said:
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.)
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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.
 
HuskerATL said:
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.
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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 :LOL:

certainly would have hoped they would suggest the option of giving away for free as a legitimate exit solution.
 
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.
 
TUGBrian said:
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!
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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.
 
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dioxide45 said:
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.
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you should add a link here...
 
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?
 
Perfect… whether you like JO or not.



Sent from my iPhone using Tapatalk
 
I put this up on TUG Facebook group and it was removed.
TugBrian. Why?


Sent from my iPhone using Tapatalk
 
CalGalTraveler said:
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.)
Click to expand...
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.
 
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.
 
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