Sham Corporations

Sham Corporations “buy” the timeshare from the timeshare owner. But instead of the timeshare owner receiving money, the timeshare owner pays the Corporation to take over ownership of the timeshare. The sham organization is established only for the purpose of owning timeshares to avoid maintenance fees.

The timeshare is owned by the Corporation. The timeshare resort management company goes after the business entity and is unable to collect any money from an individual. There is no individual to send threatening letters, or make harassing phone calls for collection. The timeshare sits in limbo.

The more creative brokers of these Sham Corporations will contact the resort management company to sell them the timeshare. It may be better from the resort’s point of view to take back ownership and sell to someone else than to have at timeshare sit in limbo without receipt of the maintenance fees.

Many resort management companies will no longer accept transfer of ownership to a business entity such as a Corporation, or Limited Liability Company. They continue to hold the prior individual owner responsible for the maintenance fees.

Deed and Record offers an alternative with genuine, bona fide gifting to friends and relatives. For more information on Deed and Record please go to www.DeedandRecord.com

 

Posted on Jan 29, 2014

Timeshare brokers

Timeshare Brokers

The timeshare broker does not work on a contingency but charges an upfront fee. The fee is paid even if a buyer is not found. The timeshare broker may use his or best effort s and have the most honest intentions to sell the timeshare, but if there is no market and no one willing to buy, then the timeshare will not be sold and the money paid upfront is lost. This adds to the ongoing costs to the owner.

 

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Posted on Jan 29, 2014

Californians owning Hawaiian Timeshares

Californians have many options to sell their Hawaiian timeshares, but have limited options to change ownership or title due to divorce, to gift, to fund a trust or for post-death trust administration. DeedAndRecord.com is an independent service for quit claim deeds to change ownership or title of timeshares in Hawaii without using escrow, title insurance or probate.

Californians with timeshares in Hawaii need to change how title is held in divorce, to fund into a trust, to transfer to heirs or beneficiaries out of trust and for gifting to friends or relatives. Complete service is provided at DeedAndRecord.com.

 

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Posted on Jan 14, 2014

What We Do

Deed and Record does it all to fund timeshares into a trust. Service includes:

• Title search to determine the precise legal description of the timeshare

• Research to determine how title is held

• Preparation of the quit claim deed for signature

• Preparation of transfer tax exemption reports to keep the deed free of transfer tax and property tax

• Document filing with Hawaii’s Bureau of Conveyances

 

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Posted on Jan 14, 2014

Form P-64B, Exemption from Conveyance Tax Explained

Form P-64B, Exemption from Conveyance Tax Explained

The State of Hawaii collects a transfer tax on all filings or recordings with the Bureau of Conveyances. But there are exclusions. Transfers in and out of a trust are exempt. To obtain the exclusion, either the Grantor or the Grantee completes Form P-64B, ‘Exemption from Conveyance Tax’ and submits the form with the quit claim deed.

 

Posted on Jan 14, 2014

Fund Hawaiian Timeshare into Trust

Quit claim deeds can be used to fund trusts and avoid probate. Hawaiian timeshares not owned or titled in a trust are at risk for probate. A timeshare must be transferred into trust while the person is still living. A quit claim deed works to fund a trust because no real change in ownership occurs. What is changed is how title is held.

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Posted on Jan 14, 2014

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