A "Viking Ship" scheme is used to describe a certain type of
employed by unscrupulous exit companies in the timeshare
The "Viking Ship" process begins when a
timeshare owner, who is looking to get out of a timeshare
decides to employ the services of an illegitimate
claiming to also be a timeshare transfer company. The exit firm
then says they require a large up-front fee with a "100% money
back guarantee" and promises to find a buyer for the timeshare.
Instead, the exit firm will transfer the timeshare ownership
over to a so-called Viking Ship LLC, which is a "shell"
corporation, instead of selling it. The Viking Ship LLCs do not
have assets and are formed specifically for the purpose of
appearing to be the owner of tens, hundreds, or even thousands
of timeshares provided by these exit companies.
worst part of Viking Ship schemes is the risk it places on
owners attempting to exit. Owners are expecting to work with a
firm that will sell their timeshare legally, and instead are
having it transferred unbeknownst to them.
more protection for timeshare owners has been greatly increased
with the 2013 amendment to the Florida Vacation Plan and
Timesharing Act (Florida House Bill 7025
). This amendment makes
it much harder for timeshare exit companies to get away with
these viking ship transfers, by mandating that they keep all
upfront fees in escrow until the transfer can be completed and
verified. This law not only applies to all timeshares located
in Florida, but also those offered for sale in Florida.
Unfortunately, the law has not stopped all timeshare exit
companies from attempting timeshare exit scams
owners should always be wary of the fraudulent tactics pushed
by exit companies. If the exit firm is seemingly vague about
who the timeshare is being transferred to, there's a chance
that it is because ownership is being taken over by a shell
We always encourage owners who are
thinking about getting rid of their timeshare to discuss their
exit options with their timeshare resort before seeking help
from a third-party exit firm.Timeshare.com provides timeshare
owners with the tools they need to safely exit their timeshare.
Know your options before you attempt to sell or cancel your
timeshare. We provide a full toolkit on
to help educate owners on available options.