FEBRUARY 4, 2020
Timeshare Owner Warning: Viking Ship Exit Schemes

A "Viking Ship" scheme is used to describe a certain type of scam employed by unscrupulous exit companies in the timeshare industry.

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 exit company 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.

The 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.

Fortunately, 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. Timeshare 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 corporation.

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 timeshare exit strategies to help educate owners on available options.


Missouri Attorney General Sues Four Timeshare Exit Companies

Consumers' Checkbook Warns Consumers of Timeshare Exit Companies' Services

Investment News Condemns Dave Ramsey for Timeshare Exit Team Endorsement

ARDA-ROC Warns Consumers & Timeshare Owners to Beware of Timeshare Exit Scams During Coronavirus Pandemic

Timeshare Exit Team Faces Lawsuit by Washington Attorney General

Timeshare Owner Warning: Viking Ship Exit Schemes

Timeshare Exit Team Exposed for Defrauding Owners

Holiday Inn Club Vacations Incorporated Secures Major Win and Exposes Timeshare Exit Team for Its False, Misleading and Deceptive Practices

Pro Timeshare Resales: Exit Company Out of Business After FTC Lawsuit

Diamond Resorts Marks Win Against Timeshare Exit Company

Timeshare Exit Firm Owner Challenged for Controversial Oped

Lawsuits Against Timeshare Exit Companies to Move Forward

Kiplinger Reports About Timeshare Exit Scams

Timeshare Exit Company Targets Consumers in Northeast Ohio

Man Sentenced to Prison for His Role in Timeshare Exit Fraud

BBB Continues to Make Alerts About Timeshare Exit Scam Companies

Resort Company Fights on Behalf of Timeshare Owners in Latest Lawsuit

Arkansas Attorney General Files Suit Against Timeshare Exit Company

Timeshare Exit Company Victim Speaks Out

BBB Exposes Portland-based Timeshare Exit Scam

Timeshare Resale Scam Warnings Surrounding Real Estate Company in Nashville

Florida Man Sentenced to 7 Years for a Telemarketing Timeshare Exit Scam

BBB Reports Hundreds of Timeshare Consumers Losing $2.2 Million to Missouri Exit Companies

Timeshare Exit Company American Resource Management Group Declares Bankruptcy

Oregon Timeshare Resale Scammers Caught Stealing Identities

Timeshare Exit Company Files For Bankruptcy

New Legal Warning Cites A Surge Of Timeshare Exit Scams In Arizona

Timeshare Exit Telemarketing Scam Sends Florida Man To Prison

Timeshare Resale Scam in Florida Causes $3 Million in Losses

Timeshare Exit Scammers Defraud $24,000 From Innocent Timeshare Owner

What to Know Before You eBay Your Timeshare

Consumer Alert: Telemarketing Scams

Considering a Change in Your Timeshare Ownership

5 Ways to Avoid Being Ripped Off by a Timeshare Exit Scam

BBB Receives Complaints About Fraudulent Timeshare Resale Companies Taking Upfront Fees

The Internet Explorer web browser is no longer supported by Club Wyndham. Please upgrade your browser.