Transfer on The Spot

Today I received a letter from Transfer on the Spot (Transfer on the Spot.com/easy) promising to free me of my timeshare maintenance fees immediately. The letter was signed by a Janice Borst-Smith who claims she inherited a timeshare from her father and has never used the timeshare while being obligated to pay the maintenance fees for the past ten years.

Their letter is poorly written and replete with misinformation. The first paragraph states the maintenance fees were $626 and that coupled with the exchange fees required her to pay $825 per year. Duh! If she never used it why did she pay the exchange fees. She says she inherited the timeshare from her father but did not want it and did not use it but was forced to pay the fees anyway. I have written this before but I will state again that no one is forced to accept any inheritance including a timeshare. States provide a time period to disclaim an inheritance and the time period in most states tracks the time period for filing a Federal Estate Tax Return (Form 706). The Federal Estate Tax went away this year but comes roaring back 1-1-11 at its 2001rate if Congress does not act before 12-31-10. The time period for filing a disclaimer though is governed by state law and is typically nine months after the date of death of the deceased. See your Board Certified Estate Planning and Probate Attorney for confirmation of what action to take to decline a timeshare inheritance.

What this company (Transfer on the Spot) will require is a payment of multiple thousands of dollars to "free" you of the maintenance fees and there is no guarantee they will follow through on their 100% guarantee to transfer the title out of your name and notify the resort of the change in ownership. Beware of this company and others like it!

carvana wrote:

I have written this before but I will state again that no one is forced to accept any inheritance including a timeshare.

While an heir can't be forced to accept the inheritance of a timeshare, the estate is still responsible for any debt relating to the timeshare until it's transferred out of the decedent's name (ie: sold, given away etc).

I have a timeshare at Lake Lur, N.C with Wyndham. I need help in selling this timeshare

barbaral400 wrote:

I have a timeshare at Lake Lur, N.C with Wyndham. I need help in selling this timeshare

First and foremost, never, ever pay anyone a large, upfront fee to sell, rent out, or market your timeshare. That is always a scam.

Next, try to find out approximately what youtpr timeshare is worth. It is possible that yours is worth very little (0 - $500 perhaps?).

Advertise it for low cost here on Redweek. When you find a taker, use a reputable closing company ($300 or less).

barbaral400 wrote:

I have a timeshare at Lake Lur, N.C with Wyndham. I need help in selling this timeshare

Note: Lake Lure timeshares are being given away on TUG and Ebay.

All charities that accept timeshare donations don't actually take title from you. They will only accept trying to sell it for you through brokers they have relationships with already. If they feel it can't be done in 30 to 60 days, they refuse to spend their time trying and will reject it. However this should be your first try after selling it for $1 on eBay.

If other charities won't accept your timeshare, we are a charity that will, but we do it differently. You select a closing escrow company to do the work and hold your funds until it's done so you're protected. We are only the final recipient when the title is transferred to us. At that time the escrow company sends the title and a $500 service fee they have on hold for you to us as our fee for accepting the timeshare. Why $500? because we make no money on a timeshare we don't resell, rent out or use. Based on IRS regulations, we hold it for 36 months then offer it back to the resort. Because we do it this way we can grant you a $5,000 donation income deduction instead of only what actual cash may have been received through another charity. The resort's incentive is that we ignore all their bills and don't care if they send us to collection. We don't use credit and have no assets except worthless timeshares.

It's fully legal and has been exhaustively discussed in another forum title "Getting rid of your timeshare". As a last resort (excuse the pun) we are what you can use to exit a deeded timeshare before you end up at Timeshare Relief or several of it's affiliates paying $4,000 or more to try to get out.

drk14 wrote:

All charities that accept timeshare donations don't actually take title from you. They will only accept trying to sell it for you through brokers they have relationships with already. If they feel it can't be done in 30 to 60 days, they refuse to spend their time trying and will reject it. However this should be your first try after selling it for $1 on eBay.

If other charities won't accept your timeshare, we are a charity that will, but we do it differently. You select a closing escrow company to do the work and hold your funds until it's done so you're protected. We are only the final recipient when the title is transferred to us. At that time the escrow company sends the title and a $500 service fee they have on hold for you to us as our fee for accepting the timeshare. Why $500? because we make no money on a timeshare we don't resell, rent out or use. Based on IRS regulations, we hold it for 36 months then offer it back to the resort. Because we do it this way we can grant you a $5,000 donation income deduction instead of only what actual cash may have been received through another charity. The resort's incentive is that we ignore all their bills and don't care if they send us to collection. We don't use credit and have no assets except worthless timeshares.

It's fully legal and has been exhaustively discussed in another forum title "Getting rid of your timeshare". As a last resort (excuse the pun) we are what you can use to exit a deeded timeshare before you end up at Timeshare Relief or several of it's affiliates paying $4,000 or more to try to get out.

One more time, what you're doing is illegal. The socalled donor can't deduct this bogus donation. The timeshare is worth zero .... you can't deduct $5000 on a zero worthy timeshare.

You will be caught by the IRS for telling lies and the people that believe your BS will be caught and billed back taxes plus interest on that bogus $5000 deduction.

And, if the timeshare is then put in your organization's name and you don't pay all future maintenance fees and possible special assessments then those resorts will come after you OR it's very possible that you don't transfer the deed out of the socalled donors name at all and the donor will still be responsible for all future fees plus they'll be out $500 that they socalled donate to you .... you're a scam like all other timeshare scams out there.

I heard that this company has helped people out of their timeshare before. I received a call from them and saw one of their presentations. Is this a legit company?

jayjay wrote:

One more time, what you're doing is illegal. The so called donor can't deduct this bogus donation. The timeshare is worth zero .... you can't deduct $5000 on a zero worthy timeshare.

You will be caught by the IRS for telling lies and the people that believe your BS will be caught and billed back taxes plus interest on that bogus $5000 deduction.

And, if the timeshare is then put in your organization's name and you don't pay all future maintenance fees and possible special assessments then those resorts will come after you OR it's very possible that you don't transfer the deed out of the socalled donors name at all and the donor will still be responsible for all future fees plus they'll be out $500 that they socalled donate to you .... you're a scam like all other timeshare scams out there.

To others wanting to know the truth, please review the other forum title "Getting rid of your timeshare".

As for jayjay and others of similar mental deficiency, either learn to do your own research to back up your asinine assertions or accept what is written by those that do provide direct research to those needing the information.

What charity are you representing?