1/27/2024 0 Comments Simplefile lc timeshare transferI also readily acknowledge that this perspective is from that of a small, independent timeshare facility interval owner, without regard to any of the "big chains" with deep pockets lurking "behind the curtain". It is indeed - no doubt about it and I will readily admit that without apology. It could certainly be argued that this is a very subjective "pick and choose" viewpoint. The HOA responsibility is to always look out for the best interests of all owners there. The HOA might choose to do so, if in the best interests of all other owners, but the HOA certainly has no legal or moral or ethical obligation or responsibility to do so. To suggest that "the HOA should just take back" ownerships that people previously (freely and willfully) chose to purchase (.and not from the HOA, I should point out) is just a terminally lame and entirely unpersuasive bit of illogic. The other remaining (non-LLC) timeshare owners never "invested" in the contrived LLC, they only bought into their timeshare intervals and property, knowingly and voluntarily accepting their contractual responsibilities. Let's not just conveniently ignore the fact that the timeshare facility hasn't failed, it's only that the LLC timeshare owner has skulked away into the mist. However, the contrived LLC skulking away from timeshare ownership responsibility immediately and directly hurts lots of other blameless individual owners who then have to immediately (and involuntarily) pick up the financial slack to keep the place afloat. Hopefully, few other voluntarily invested individuals also get hurt. In the failed legitimate business example, individuals lose their initial invested money. It's admittedly a very subjective distinction that I make here. For example, if a legitimate business enterprise fails after it's founder(s) have invested their own (now lost) money, should all of that founder(s)' other personal assets (real estate, motor vehicles, bank accounts, etc.) then also become exposed and available to be attached and liquidated, potentially leaving people without even so much as the roof over their heads? I can understand and appreciate the creation and legitimate use of a LLC in other business arenas. The applicable standards of proof for a criminal fraud case may be beyond the appropriate scope of this particular discussion however. I have absolutely no use or respect for attempts to hide behind the anonymity of a convenient corporate veil contrived and created solely as a "timeshare exit strategy" to (attempt to) exercise without any consequences if / when the ownership happens to become "inconvenient" or when the cash profits from rentals stop rolling on in.
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