Time Share Lunatic

[ESB7]

A friend of mine purhased in Samui and is very happy. They have had holidays in places around the world in magnificent hotels that they otherwise could not have afforded. Their initial outlay has already been recouped after only a few years and can now look forward to another 25 or so almost free...I think that a lot of posters here do not know all the details about these companies and make comments on hearsay or some bad pess..just remember for every unsatisfied customer there is probably 100 satisfied. It may not suit everyone but for some it s a real bargain

[Benjie]

I wouldn't call any of the fractional/timeshare places magnificent.

I don't see the point TBH, It's normally only a tiny bit extra on top of the plane fare for a package trip including the hotel.

[stevebarattonsamui]

In crazy backwards countries like Thailand, ownership gets reduced to an extremely long term sub-lease, usually 300 years. There are a number of ways that this is done - legally. For many people 300 years is enough.

I'm not just making this stuff up.

Again, ABSOLUTEly certain companies take timeshare and disguise it as fractional ownership to boost sales, but the concept of fractional ownership is 100% sound and completely different from timeshare.

As you say , in countries with freehold property rights for foreigners this would be safe (it's used in the UK to get people on the property ladder with the constructor owning a share of the property)

A Thai company structure to allow foreigners to own land would be illegal or unsafe as we all know

I've yet to here of a lease in Thailand longer than 30 years for residential or 50 years commercial, where are you getting 300 hundred years from ??

A foreign company can lease land from a Thai company for 30 years with options to renew an additional 9 times for 30 years each for a total of 300 years. The foreign company can then sell interests in the property, which will be valid for 300 years. In this sense the customer has ownership for 300 years, which isn't of course the same as owning something forever as you would in the UK, but for many people 300 years is good enough.

I am happy to at least meet someone who acknowledges that fractional and timeshare are different products. The Ritz Carlton, Marriott and the US Attorney General are not all involved in a huge conspiracy. I am not saying fractional is the greatest thing ever. I am saying that when done properly, it is very different from timeshare. When used and abused, it ABSOLUTEly becomes just like timeshare.

you have absolutely no idea what you are talking about...but then that's typical of thyme (opps) share salesmen. Not to mention most of the "information" one sees on this forum.

[stevebarattonsamui]

Agree completely. Although the there are some distinctions, as a practical matter they are meaningless. "fractional ownership" is simply "timeshare", re-branded = rip-off.

You simply don't know what you are talking about.

Timeshare and fractional are two completely different products. Even the more reputable player in the market, Marriott has a timeshare division and a fractional divison. Why? BECAUSE THEY ARE TWO DIFFERENT PRODUCTS.

A block of time (usually 3 months) in a specific unit that you own FOREVER and can sell or rent vs a membership at a resort for 25 years that you probably won't be able to use when its time to go on holiday and that no one in their right mind will buy from you.

The problems arise when the timeshare touts try to make their product more attractive by calling it fractional and even giving their customers worthless pieces of paper to demonstrate their 'ownership'.

Further, in almost all timeshare, the sale takes a whole lot of pressuring and convincing and conniving. That's why you don't get your free gift til you have put up with their bull&hit for 90 minutes - and that's why they have to promise some kind of free gift in the first place! And no one calls the timeshare companies asking to buy - that's why they try to force you into a decision on the day.

The fractional sales process is completely different. The reputable fractional companies don't offer gifts (does a real estate agent give away free ipods?), don't force you to sit and listen to their pitch and actually have customers calling them. And the sale often takes weeks to complete - it doesn't all go down in a matter of hours.

But don't take my word on it, do a little research on google next time before you post.

Actually...I do know... and know far more than you.

Define "ownership"....now try to define "fractional ownership"...but stay within the bounds of Thai law...go....and good luck

Its quite intriguing how rather than posting a reasoned rebuttal that explains how my definition of timeshare and fractional is wrong, you spend all of 30 second to assure me that you know a lot (more than me! - even though you don't know who I am) but don't bother to enlighten us all with your boundless knowledge, instead telling me to prove what I have already stated. The word ignorant comes to mind.

OWN - to possess; hold as personal property

FRACTIONAL OWNERSHIP- One owns a share in a company. This company owns a given unit or resort. This share is connected to a specific period of time and entitles the OWNER to stay in HIS unit during HIS time or rent this time out to whomever he wishes.

As the property increases (or decreases) in value, so does the value of the share. A fee is paid to a management company who looks after upkeep, utilities, furnishings etc. OWNERSHIP can be bequeathed, just like stock in a any other real estate.

This is not a membership that lets you stay at a resort. This is ownership. The unit - during the time period allotted - is owned.

In countries with more reasonable laws like the US, it is OWNED forever. When you buy a house in the US, it doesn't come with a date that you have to leave and neither does a fractional ownership share. In crazy backwards countries like Thailand, ownership gets reduced to an extremely long term sub-lease, usually 300 years. There are a number of ways that this is done - legally. For many people 300 years is enough.

I'm not just making this stuff up. This is already happening. The legalities have already been hashed out by lawyers. This is legal. And this is becoming extremely popular for the person who wants a holiday home, but doesn't want the hassle or expense of looking after it for the 9 or 10 months a year that they are not around.

Again, ABSOLUTEly certain companies take timeshare and disguise it as fractional ownership to boost sales, but the concept of fractional ownership is 100% sound and completely different from timeshare.

But I know, I'm wrong, you're right and timeshare and fractional are the exact same thing. (And the Missouri Attorney General doesn't know that timeshare and fractional are the same thing either)

http://ago.mo.gov/ConsumerCorner/blog/1019...onal_ownership/

actually you are incorrect, there is no "ownership"....just timeshare...as I thought, and yes, if your wondering, do know. Good luck timeshare salesman...hope you are proud telling your mum what you do for a living

[Pilchard]

A foreign company can lease land from a Thai company for 30 years with options to renew an additional 9 times for 30 years each for a total of 300 years. The foreign company can then sell interests in the property, which will be valid for 300 years. In this sense the customer has ownership for 300 years, which isn't of course the same as owning something forever as you would in the UK, but for many people 300 years is good enough.

Unless there has been change in the law recently that I've missed you are mistaken.

The maximum lease on residential property is 30 years, any offer of renewal is written into a side contract and is NOT recorded on the Chanote.

30+30+30 renewals have yet to be tested in a court of law and are still considered unsafe

[maccaroni man]

A friend of mine purhased in Samui and is very happy. They have had holidays in places around the world in magnificent hotels that they otherwise could not have afforded. Their initial outlay has already been recouped after only a few years and can now look forward to another 25 or so almost free...I think that a lot of posters here do not know all the details about these companies and make comments on hearsay or some bad pess..just remember for every unsatisfied customer there is probably 100 satisfied. It may not suit everyone but for some it s a real bargain

I read in trade magazine that for every 1 complaint filed, there are 60 others who could but did not bother. Using that formula possibly sheds a bit of light on why time share has a stigma as i would bet it is quite easy for almost anyone to find someone who wants to complain about their timeshare.

[ESB7]

A friend of mine purhased in Samui and is very happy. They have had holidays in places around the world in magnificent hotels that they otherwise could not have afforded. Their initial outlay has already been recouped after only a few years and can now look forward to another 25 or so almost free...I think that a lot of posters here do not know all the details about these companies and make comments on hearsay or some bad pess..just remember for every unsatisfied customer there is probably 100 satisfied. It may not suit everyone but for some it s a real bargain

I read in trade magazine that for every 1 complaint filed, there are 60 others who could but did not bother. Using that formula possibly sheds a bit of light on why time share has a stigma as i would bet it is quite easy for almost anyone to find someone who wants to complain about their timeshare.

Were the complaints specific to Timeshare or other industries?...What was the main complaint, cost, service??? I read hundreds of articles in the national press that there were WMD in Iraq

[maccaroni man]

A friend of mine purhased in Samui and is very happy. They have had holidays in places around the world in magnificent hotels that they otherwise could not have afforded. Their initial outlay has already been recouped after only a few years and can now look forward to another 25 or so almost free...I think that a lot of posters here do not know all the details about these companies and make comments on hearsay or some bad pess..just remember for every unsatisfied customer there is probably 100 satisfied. It may not suit everyone but for some it s a real bargain

I read in trade magazine that for every 1 complaint filed, there are 60 others who could but did not bother. Using that formula possibly sheds a bit of light on why time share has a stigma as i would bet it is quite easy for almost anyone to find someone who wants to complain about their timeshare.

Were the complaints specific to Timeshare or other industries?...What was the main complaint, cost, service??? I read hundreds of articles in the national press that there were WMD in Iraq

to equate complaints with time share and WMD in iraq is a real stretch. If are you trying to say that you can not find a complaint about timeshare ownership? Honestly the most complaints I have heard about timeshare has come from the closers who have not gotten paid as agreed and this has been on three continents so i doubt that it is a one off