Newton Group Transfers Applauds Ridding the Timeshare Disposal Industry of Viking Ship Schemes

The Florida Vacation Plan and Timesharing Act (HB 7025) has passed and will be going into effect on July 1st of this year, leaving less than a month between now and one of the most significant restructuring of the timeshare disposal landscape in years. Although this change does come with its benefits, the transfer process will likely become more expensive for timeshare owners.The new bill is designed with a noble purpose: to rid the industry of the Viking Ship transfer model. This is a scheme in which an untraceable transfer company charges an unsatisfied owner a transfer fee and accepts ownership of their property without any intention of putting it back on the resale market or paying the associated fees and taxes. Eventually, the developer has to foreclose on the property and reassume its ownership, while the Viking Ship companies have sailed off in a blaze, never to be seen or heard from again.