Here's a different sorta question, and one that is being debated on a popular timesharing forum. If you are not a timesharer, you may not be able to follow it.
The basics: When timeshare owners exchange for a vacation in another resort, they deposit their vacation ownership with an exchange company and then request vacation time that another owner has deposited.
Once an owner deposits their vacation ownership with the exchange company, they give their rights to that ownership to the exchange company. Similarly, since they do not own the interval they receive in exchange, they are not allowed to sell or rent it.
My question has to do with what lies between depositing ownership and receiving an exchange. Very seldom does an owner receive an exchange at the same time they deposit their ownership. Rather, they receive from the exchange company the right to make a future exchange.
Here's the question: What legal right does the exchange company have to not allow their members to sell this right to make an exchange? If the exchange company gives an owner one of these credits for the deposit of their vacation ownership, how can the exchange company then claim ownership, or control, over the credit?
Is that not having your cake and eating it too?
The sale of these credits is not specifically prohibited in the Terms and Conditions of Membership, while the sale of "Confirmations" (the eventual vacation time traded for) are.
The explanation they have given is that since the credit can only be used to acquire vacation ownership time from them, it is the same as the ownership time that will eventually be given, and since that time cannot be sold or rented, neither can the credit. Their logic is that it would be a way for the member to sell the eventual vacation time traded for, before the fact, and the member has no right to do that.
No one appears to be harmed by the sale of one of these credits. The exchange company gets $49 for transferring the credit to another member's account, $149 exchange fee from whoever trades for the original week deposited, and another $149 exchange fee from the member who purchases the credit when they confirm their exchange.
They are being sold on eBay, and elsewhere, with the exchange company charging $49 to transfer these credits into other owner's accounts, while at the same time the exchange companies claim to not allow this practice. Various brokers are selling them, wholesale, in large quantities.
All you get from the exchange companies is spin.
The basics: When timeshare owners exchange for a vacation in another resort, they deposit their vacation ownership with an exchange company and then request vacation time that another owner has deposited.
Once an owner deposits their vacation ownership with the exchange company, they give their rights to that ownership to the exchange company. Similarly, since they do not own the interval they receive in exchange, they are not allowed to sell or rent it.
My question has to do with what lies between depositing ownership and receiving an exchange. Very seldom does an owner receive an exchange at the same time they deposit their ownership. Rather, they receive from the exchange company the right to make a future exchange.
Here's the question: What legal right does the exchange company have to not allow their members to sell this right to make an exchange? If the exchange company gives an owner one of these credits for the deposit of their vacation ownership, how can the exchange company then claim ownership, or control, over the credit?
Is that not having your cake and eating it too?
The sale of these credits is not specifically prohibited in the Terms and Conditions of Membership, while the sale of "Confirmations" (the eventual vacation time traded for) are.
The explanation they have given is that since the credit can only be used to acquire vacation ownership time from them, it is the same as the ownership time that will eventually be given, and since that time cannot be sold or rented, neither can the credit. Their logic is that it would be a way for the member to sell the eventual vacation time traded for, before the fact, and the member has no right to do that.
No one appears to be harmed by the sale of one of these credits. The exchange company gets $49 for transferring the credit to another member's account, $149 exchange fee from whoever trades for the original week deposited, and another $149 exchange fee from the member who purchases the credit when they confirm their exchange.
They are being sold on eBay, and elsewhere, with the exchange company charging $49 to transfer these credits into other owner's accounts, while at the same time the exchange companies claim to not allow this practice. Various brokers are selling them, wholesale, in large quantities.
All you get from the exchange companies is spin.
