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Re: Reba Management in Hilton Head Island (by R P.):

tracey75 wrote:

Supposedly the reason behind the requirement is that people were transferring their timeshares to individuals and "donation LLC's" who would then default on MF's. The transfer fee is supposed to be put in an escrow account and pay the first year or two MF's for the new owner. I don't see how it will prevent default because now people will be able to buy for cheap because this is going to tank the value and use or rent the unit for 1 or two years and then default and the problem will still be the same.

There-in lies the problem with bogus charities and LLC's that take timeshares for a large fee then let them go into foreclosure that I've been preaching against for months in these forums.