What's the diference in ethics?

[e.bram]

Ethically speaking, what is the diference between recinding a developer purchase and bailing out of a TS you no longer want and has no(maybe negative) value? Going back on a committment in both cases.

 

[Steve]

Ethically speaking, what is the diference between recinding a developer purchase and bailing out of a TS you no longer want and has no(maybe negative) value? Going back on a committment in both cases.

Rescinding a developer purchase is a legal right specifically given by the state in which the timeshare is located. It is a cooling off period during which a buyer is free to change his/her mind about the purchase. The title has not transferred in this situation, and it is both legal and ethical to back out.

In stark contrast, "bailing out" of a timeshare that you own is not legal nor ethical. Once you have taken title to a property, you can't simply abandon it without suffering severe damage to your credit. This is how it should be. You are the legal owner of the property, and you have an obligation to pay the continuing liens on that property...ie, the HOA fees and property taxes. It's a pretty clear difference.

Steve

 

[e.bram]

If one puts the TS in a trust, corp or LLC, and the entity cannot afford the MF, then the owner has legally disposed of the TS in a legal manner.

 

[rickandcindy23]

If one puts the TS in a trust, corp or LLC, and the entity cannot afford the MF, then the owner has legally disposed of the TS in a legal manner.

This is an unfair way to dump a timeshare, and I resent the implication, that some people here make, that this is not going to hurt anyone. It hurts US, the OWNERS.

I can tell you that we have owners at Twin Rivers who have not paid maintenance fees for years, and the only way to get those weeks back is a legal process that costs $2,500 a week. Not only have we lost maintenance fees, but we lose an additional $2,500 to get that week back. It is unethical. I don't care if it is legal or not, it is wrong to do that to your fellow owners.

There are some very familiar names on our list of unpaid owners at Twin Rivers. I could embarrass at least one person that is a member of TUG. And there are some postcard companies, too, under their LLC protection. Don't even think our lawyer isn't going to find out the name of the person who has the power of attorney on those weeks. No wonder some of the postcard companies have gone under. Other resorts' lawyers have found out how to destroy them.

 

[e.bram]

Recinding hurts the TS salesman. If the BOD doesn't operate the TS in an efficient unbiased way(at tne expence of the non prime week owners)then those owners have to do what they have to do(legally) to protect themselves. hurting someone should not be the criteria for protecting yourself. if the TS was managed properly there would not be a problem.

 

[rickandcindy23]

Recinding hurts the TS salesman. If the BOD doesn't operate the TS in an efficient unbiased way(at tne expence of the non prime week owners)then those owners have to do what they have to do(legally) to protect themselves. hurting someone should not be the criteria for protecting yourself. if the TS was managed properly there would not be a problem.

What? Maybe the owner should get involved with the BOD, which are the people--US! I am not going to argue with your insinuation that everyone who wants to walk away from a timeshare is doing so because THEY think the BOD is not doing its job. The answer is to get involved and not be apathetic.

Give me a specific instance where an owner-operated board of directors is not looking out for the interest of the owners.

 

[jbcoug]

e.bram

You started your post with "Ethically speaking". It's pretty clear that you are looking for a "legal" excuse to cover an unethical action. You know as well as the rest of us that the difference between exercising your right of recission and dumping a responsibility you legally accepted is a huge one ethically. Don't expect us to believe you don't know the difference.

John

 

[e.bram]

It has been my expierence that the BOD is controlled by a few owners and the managment company, and make any direct communications between the non BOD owners and the BOD impossible. Thsi controlling clique will not let anyone near them and election process is designed to inhibit any change. They do not poll the owners while making decisions which seem to be self serving and conflict of interest. I have compunctions about bailing out if I have to. I am hoping the whole TS goes belly up. Then as whole ownership I will profit from the sale. If not I bail.

 

[wbtimesharer]

If one puts the TS in a trust, corp or LLC, and the entity cannot afford the MF, then the owner has legally disposed of the TS in a legal manner.

He has not legally or ethically DISPOSED of anything. What the person has done is to find a loophole in the law to avoid paying fees that they are responsible for and creating issues for a body of other parties, namely the other owners at the resort, that could financially impact those parties.

What you propose is akin to running filling up a bunch of credit cards and using credit to buy a bunch of toys and then filing bankruptcy. While its legal to declare bankruptcy, its a loophole and ethically wrong.

As for backing out of a developers sale, the reason the recission period exists is because so many companies pull in vacationers to purchase things they can't afford using pressure tatics. Once the pressure is taken off, people come to their senses and have the ability to back out of something that was forced down their throats.

Anybody who attempts to use a LLC to dump their timeshare ownerships without trying to sell or give them away isn't worth much in my opinion. If you don't want it don't buy it.

 

[wbtimesharer]

It has been my expierence that the BOD is controlled by a few owners and the managment company, and make any direct communications between the non BOD owners and the BOD impossible. Thsi controlling clique will not let anyone near them and election process is designed to inhibit any change. They do not poll the owners while making decisions which seem to be self serving and conflict of interest. I have compunctions about bailing out if I have to. I am hoping the whole TS goes belly up. Then as whole ownership I will profit from the sale. If not I bail.

If possible, and I am not sure you will be able to or will want to, can you define exactly what you think a timeshare BOD should do. I hate to tell you that if a Board has to poll every owner for every decision, nothing will ever get done and you MF will double just on the expenditures need to do the polling.

The worst TS's I have are 2 Door County Blue weeks with one have almost doubled the MF since they started. Yet, the nightly rate I am paying for the highest of the two is around $80/night for a 2 bedroom condo. The BOD of directors are constantly looking to improve the amenities at the resort while keeping MF's reasonable.


WHY, you may ask. BECAUSE they are also owners at the resort.

So, please define what you expect from your BOD as I am real curious to hear it.

 

[e.bram]

Without limited liability entities and bankrupsy laws, capitalism could not exist as it does in the United States today, and the United States could not exist as it does. Using these entities and laws is a citizens right and ability to use them should not be compromised, and the use of them should not be disbarraged. It is un American!!!

 

[wbtimesharer]

Without limited liability entities and bankrupsy laws, capitalism could not exist as it does in the United States today, and the United States could not exist as it does. Using these entities and laws is a citizens right and ability to use them should not be compromised, and the use of them should not be disbarraged. It is un American!!!

So, its the right and American thing to do if YOU profit. Now if you are the losing end, my guess is that you would be screaming another tune.

Ahhhhh, hypocracy another attribute of American democracy.

 

[e.bram]

Hypocracy?????

 

[Dave M]

This thread is straying into political and discourteous posting and, accordingly, I am closing it. Please do not start another thread on the same or a related topic.