mstoyanov
TUG Member
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- Jan 4, 2009
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Denise,
I am not agreeing with you - I am saying that ALL big outlets on EBay ultimately takes possession of the timeshare on their name. The are divided in 2 groups oh HOW they do it:
1st Group - like the "CHEYENNE CROSSING LLC"/"Francis Trips LLC" and similar takes ownership immediately after they receive money from the original owner.
And then they try to find another buyer. This type of outlets pay for 2 recordings.
2nd Group - Asks buyers to sign an empty deed and start trying to find a buyer (even for $1 + free $300 gift card) and if they find one they fill his name on the empty deed and record it. If they can not find a buyer in a specific time they fill the name of one of their own LLCs on the empty deed and then record that deed. But ultimately they also take possession of the deed. The difference in 2nd group versus the 1st one is that they save on 1 recording fee (since they do closing themselves) but they get exposed to liability to be sued as a broker without license since they are technically selling 3rd party timeshares (though they are mostly associated with brokers in several states so they again skirt on the edge of the law).
2 Years ago there was one outlet on EBay that was operating with POA only but last year they also switched to the model of the 2nd group.
So ultimately all big PCC outlets on EBay gets possession of the deeds as promised to the original owners. They also try to maintain good EBay feedback so they try to make buyers happy too. And by keeping original owners and buyers happy there is no one that can testify against them in a criminal case. Yes they overcharge for their services the original owners but overcharging is not a crime and lies that they feed to original owners on presentations are difficult to prove in court (same story as the developer sellers - what is on the contract is all that there is in real estate transactions).
I am not agreeing with you - I am saying that ALL big outlets on EBay ultimately takes possession of the timeshare on their name. The are divided in 2 groups oh HOW they do it:
1st Group - like the "CHEYENNE CROSSING LLC"/"Francis Trips LLC" and similar takes ownership immediately after they receive money from the original owner.
And then they try to find another buyer. This type of outlets pay for 2 recordings.
2nd Group - Asks buyers to sign an empty deed and start trying to find a buyer (even for $1 + free $300 gift card) and if they find one they fill his name on the empty deed and record it. If they can not find a buyer in a specific time they fill the name of one of their own LLCs on the empty deed and then record that deed. But ultimately they also take possession of the deed. The difference in 2nd group versus the 1st one is that they save on 1 recording fee (since they do closing themselves) but they get exposed to liability to be sued as a broker without license since they are technically selling 3rd party timeshares (though they are mostly associated with brokers in several states so they again skirt on the edge of the law).
2 Years ago there was one outlet on EBay that was operating with POA only but last year they also switched to the model of the 2nd group.
So ultimately all big PCC outlets on EBay gets possession of the deeds as promised to the original owners. They also try to maintain good EBay feedback so they try to make buyers happy too. And by keeping original owners and buyers happy there is no one that can testify against them in a criminal case. Yes they overcharge for their services the original owners but overcharging is not a crime and lies that they feed to original owners on presentations are difficult to prove in court (same story as the developer sellers - what is on the contract is all that there is in real estate transactions).
It appears that you are agreeing with me. I said that many of the ebay sellers do not transfer the deeds into their names, and you are saying you have a list of which ones do and do not. Isn't that the same thing?