OnTheSpotTimesshareDisposal

[98cabo]

Just received a postcard from OnTheSpotTimeshareDisposal in Wisconsin offering to take over my timeshare for $585.

Has anyone had any experience with them?

 

[LannyPC]

For that price, it sounds like they're going to pull the "Viking Ship" scheme.

 

[98cabo]

Lanny:

I'm a newbie. What is the "Viking Ship" routine?

 

[DeniseM]

They create an LLC, deed your Timeshare to it, and then bankrupt the LLC, leaving the BOD and other owners (not the developer) in a very difficult legal position.

 

[B.T.]

Hi- My Dad was hosed by these jerks last year, but more to the tune of $3500.
more detail in this thread:
http://www.tugbbs.com/forums/showthread.php?t=164209
I just received copies of the paperwork, and while I see that they seem to contract to take over ownership (or not), there is no date or time-frame attached, which means they can wait until the end of time to take ownership (if they do at all, which I'm convinced they don't) despite their marketing hype which promises "Transfer on the Spot"

 

[fishingguy]

the ol' POA rip-off?

This sounds like the ol' "Power of Attorney (POA)" scheme, for a suposed on the spot timeshare ownership transfer. The owners give a POA for the sale of the property -- they assume they no longer own the property after the meeting.

Unfortunately, the ownership is never taken out of their name and transferred to someone else. [This process is likely discussed in the contract they sign -- but it is often hidden amongst the gobbly-gook, and most won't recognize it for what it is. Later, the owners find out they still own the unit and are behind on maintenance fees as well.

#1 Rule of Thumb for Timeshares:
Always read what you are about to sign when it comes to timeshares, chances are the devil is in the details! It doesn't matter if you are buying or selling --read and understand what you are committing to.

 

[Carolinian]

Even when a PCC like this uses a deed, most PCC deeds out of the original owner that I have seen recorded in North Carolina are not valid to pass title. Whether this is deliberate or just the result of using unqualified closing companies I do not know, but the potential impact on the person who thinks they have deeded away their timeshare is the same.

 

[B.T.]

-- they assume they no longer own the property after the meeting.

The reason people assume they no longer own the property is because Transfer on the Spot explicitly TELLS them that!!!

Look at their website:
"Yes. Ownership is legally transferred. Depending on the property of record, title is transferred via Deed, Membership, Lease, Assignment, or as required by resort official governing documents (Covenants, Conditions, Restrictions)."

"COME in with your Timeshare and LEAVE without it, Congratulations!"

"Your deed or other ownership documents are prepared legally and transferred right before your eyes!"

It's the biggest load of HorseSh*t you can imagine. My only hope is that some AG's office somewhere is working to shut them down and put the principals behind bars where they belong.

 

[carl2591]

On The Spot Timeshare Disposal, OnTheSpotTimeshareDisposal

"Viking Ship" trick.. have not heard that one..
sound like this "onTheSpotTimeshareDisposal" bunch is kinda slimy and a scam at best.


trying to get both spellings of name in title header for google search..

 

[kaio]

Hi- My Dad was hosed by these jerks last year, but more to the tune of $3500.

B.T. - I know your intentions are good, but you are not referring to the same company as the OP... I believe you are referring to TSR...

 

[Ridewithme38]

Don't pay a DIME till you, yourself have called the Resort and verified that the TS is no longer in your name

 

[Ridewithme38]

Even when a PCC like this uses a deed, most PCC deeds out of the original owner that I have seen recorded in North Carolina are not valid to pass title. Whether this is deliberate or just the result of using unqualified closing companies I do not know, but the potential impact on the person who thinks they have deeded away their timeshare is the same.

I think this is BS, there is no way a TS company will let you get out of your contract because you've used an 'unqualified closing company'

Hundreds of Timeshares are sold everyday on ebay by 'unqualified closing companies' are you i can go on ebay right now and buy a North Carolina TS from an 'unqualified closing company' and just never pay the MF's and i won't be responsible? If so, heck, i'm going to buy 10 right now

 

[kaio]

Don't pay a DIME till you, yourself have called the Resort and verified that the TS is no longer in your name

Ride, I understand your point...(not trying to stur anything up) but I get Interested in hearing any follow ups when I see comments worded like this... What company in their right mind is going to go thru all the closing work in "hopes" that the owner is going to pay them when they are no longer an owner. Escrow is one thing... but no company is going to do all the work and try to chase someone down after for payment.

 

[e.bram]

Carolinian(or anybody):
Just is a "valid test" for a NC deed????

 

[B.T.]

B.T. - I know your intentions are good, but you are not referring to the same company as the OP... I believe you are referring to TSR...

My mistake, thanks for catching that- my beef is with "Transfer on the Spot" (they also seem to operate under other names, Timeshare Relief, Transfer America, etc) based out of Torrance, CA.

 

[kaio]

My mistake, thanks for catching that- my beef is with "Transfer on the Spot" (they also seem to operate under other names, Timeshare Relief, Transfer America, etc) based out of Torrance, CA.

Yeah... I believe there are many people that have issues with TSR. I would suggest trying to cancel and/or doing a chargeback if possible... anything to get out from that mistake. Otherwise just keep following up with them to ensure the transfer process is going smoothly and you are getting accurate timelines for completion. Best of luck to you and said scenerio.