The Florida Vacation Plan and the Time Sharing Act (HB 7025) have come into effect on 1 July this year, and within one year from now no more than a year has passed since the most important reorganization of time-shed repositories It will be one. While this change has its advantages, the relocation process can be more expensive for time-share owners.
This new bill is designed with the precious purpose of removing the Viking ship transport model from the industry. This is a method by which a non-traceable relocation company accepts ownership of the property without requesting a transfer fee from the disapproved owner, returning it to the resale market or paying related fee or tax. Sometimes developers have to dispose of real estate and reconfirm ownership, but the Viking shipping company is sailing in the fire and will never be seen again.
Since maintenance costs are a major source of income, millions of developers are sacrificing this practice each year. In many cases resorts will only raise the annual membership fee of the remaining inhabitants sticking to the first contract even if they are not always satisfied with the real estate in order to compensate for the loss. This may partially explain the apparent arbitrary and astronomical increase in maintenance and maintenance expenses that we have witnessed in the last few years. That is why it is a cyclical problem. Owners tired from huge huge maintenance costs, in some cases unknowingly transferred the property to the Viking Ship company, developers deducted real estate and redisplayed, fees continue to rise. At some point it is necessary to get off the merry-go-round.
Thankfully, this new legislation continues to allow the owner of timeshare that can not be enjoyed by legitimate relocation companies to be disposed of in an ethical and friendly manner, while also allowing the time-sharing industry of the Viking ship scheme It aims to abolish it. However, there are a few more due diligence and costs needed to successfully complete the transfer in order to do this. This should not be an obstacle to relocation, but it should be noticed that there is a new landscape of timeshare disposal scenes.
Just as with the majority of life, you will consider all options and act accordingly, eliminating your family from timeshare contracts and paying annual maintenance fees.
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