Thanks for the Information, TTR. Now What Do I Do with it?

The information provided to you by TTR can easily be implemented using the tools that are part of your subscription. For example, TTR’s INFORMATION that a potential transferee has recently taken title to an unusual number of timeshare interests or, has been reported delinquent by other Subscribers, or has been foreclosed upon for failure to pay assessments, or that the address provided is an address commonly used by the Unburdening Companies for Asset-Less Entities or individuals, or that public records show discrepancies in the address and telephone numbers that have been provided, or the prospective transferee has been recently searched by other Subscribers, etc. can be plugged directly into one of TTR’s Model Letters to request an explanation of such circumstances.

TTR’s procedures do not recommend that a prospective transferee that has been identified as having one of these circumstances be rejected out of hand.  Instead, sending a letter requesting an explanation of facts that are supported by public records and which have been diligently verified, has been proven by our Subscribers to have a chilling effect on the Unburdening Companies. Asking for an explanation is not unreasonable and, in fact, is part of an Association’s duties.

On the other hand, you may search a prospective transferee and find no discrepancies or circumstances that would lead you to suspect the transaction. This doesn’t mean that the prospective transferee should be accepted without following the same transfer policy that you would apply to a suspect transferee.  TTR stresses that all prospective transferees be processed under the same procedures.

TTR recommends that all prospective transferees should provide the information that is required on TTR’s Standardized Estoppel Certification, Membership Application and Company Resolution.  When you are provided with the information on these forms you will be able to enter the new transferee onto your roster with complete and verified information.

TTR’s Best Estoppel Procedures and Practices, Standardized Forms and Model Letters, can be downloaded by Subscribers from the Downloads Sub Menu of the Registry Tab.