• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Risk of buying now for 2017 use

M

MPERL

TUG Member
Joined
Nov 30, 2014
Messages
114
Reaction score
3
I see many TS for sale now with 1st use 2017. Is there a risk becoming an owner now yet not have use until next year? If I become owner of record(deed) in say Aug 2016, with 1st use in 2017, and the seller(or his renter) is booked to use it between Aug and end of year 2016, what happens if the TS gets damaged before Jan 2017? If I am the owner of record, am I not liable?
 
This is not something I would worry about at all, because you will not be considered the owner for the 2016 usage. If you have a properly written contract and deed, it will be clear that you are the owner of the 2017 usage.

When an owner or guest checks in, the front desk runs their credit card for any room charges or damages.

Please be aware that timeshare damages are really rare - we hardly ever hear about them, so I would not give this another thought.
 
Last edited:
It's always a risk since you never know exactly how long it will take to close and you cant be certain the ownership wasn't signed up for an exchange or rental already. But I think it's low risk.

The first two timeshare resales I bought there was no problem using them the next year. But the third one had been entered into a rental program without my knowledge or consent and the resort refused to give me the week. I argued my way into getting another similar week to use so I did get usage that year.
 
I think with your "timeshare damage" question, you may be asking about Special Assessments in the face of a catastrophic event. Special Assessments are levied on owners of record at the time the SA is voted by the board, not when the actual cause of need has occurred. With ANY timeshare ownership, there is a risk of Special Assessment. In 2017, 2018, or 2019. Or beyond. I understand that some boards are looser with the decision than others.

Also, if the deed has been filed in your name, and the HOA has recognized you as the owner in October, 2016, for example, you are responsible for the assessment. It is independent of whether there was actually any usage for you within the year.
 
The real risk is an unanticipated large increase in MF and/or an unanticipated Special Assessment.

George
 
I think the OP is actually saying that they are buying a timeshare this year for use next year but this year's usage will actually take place after the sale but by the old owners. They are worried that the old owners might damage the unit? Is that right?
 
You are not the owner of record for the usage so you would not be held liable for the damage. There is a difference between the owner of record for the real estate and the owner of record for the timeshare usage.

The exception would be if you are the owner of record for the usage but due to your contract you are allowing the prior owner to use it. In that case you would ultimately be responsible.

Each property may look at the transfer differently but in either case there really isn't much to worry about.
 
You are over thinking this. If it's what you want, buy it. Just make sure you are not paying the MFs for this year and not able to use it until next year.
 
Last edited:
This is actually the norm. I wouldn't usually look to buy a timeshare unless the use year was the following year.
 
dioxide45 said:
This is actually the norm. I wouldn't usually look to buy a timeshare unless the use year was the following year.
Click to expand...

Dioxide is right. This is normal. I have bought and sold over a dozen timeshares this way, no problems ever.
 
birddog31 said:
What does special assignment mean?

Sent from my SM-G920V using Tapatalk
Click to expand...

A resort-wide expense that is not covered by the maintenance fee, and is charged to the owners, as a separate billing. For instance: hurricane damages.
 
DeniseM said:
A resort-wide expense that is not covered by the maintenance fee, and is charged to the owners, as a separate billing. For instance: hurricane damages.
Click to expand...
Ahhhhh, gotcha. That would SUCK!?! Haha

Sent from my SM-G920V using Tapatalk
 
You must log in or register to reply here.
Top