The American Resort Development Association Resort Owners’ Coalition (ARDA-ROC) has announced its support for the Timeshare Transfer Registry (www.TTRegistry.com), a web-based database and search function created to address issues relating to the transfer of timeshare intervals. Developed by Grant Wolf, Inc., an ARDA member since 1985, the Timeshare Transfer Registry (TTR) database is scheduled to become available on a subscription basis to the timeshare industry in February 2013.
According to Grant Wolf, features of the Timeshare Transfer Registry include a dynamic, contemporary database, sophisticated search capabilities, custom reporting, and review. Subscribers are able to upload their unique data on transfer company activity as part of their subscription. Searches of potential transferees that do not already appear in the database are researched and the results are classified and added into the database daily. Further, there is a resource center that provides downloadable Best Estoppel Procedures and Practices, including model documents and letters and transfer policy language for adoption by homeowner associations (HOAs).
In 2012, ARDA-ROC, based upon the efforts of its then recently formed Transfer Company Task Force, began to develop its own on-line database to address the transfer company business model and its potential and actual negative effects on timeshare owners and HOAs.
By April 2012, Grant Wolf, Inc. was already 16 months into the development of an Internet-based transfer company database and had developed a Best Estoppel Procedures and Practices Manual for five of the timeshare resorts to which it consults. The website was materially complete, functional, and being utilized by five timeshare associations at the time.
After several meetings with Grant Wolf, ARDA and ARDA-ROC decided it was no longer necessary to develop its own database as it would be more effective to work with Grant Wolf in evaluating and refining the TTR product—thus getting such a registry to HOAs more quickly. By supporting TTR, ARDA-ROC member HOAs that choose to subscribe to the TTR site will receive a discount on the monthly subscription fee.
“The TTR database provides a dynamic platform for timeshare associations to work together to protect against fraudulent transfers,” says Jason Gamel, ARDA’s vice president of state government affairs. “We’re excited that Grant Wolf—a longtime ARDA member—has stepped forward in developing this database, and we encourage our members to visit the site.”
The ARDA Resort Owners’ Coalition (ARDA-ROC) is a non-profit program sponsored by the American Resort Development Association, dedicated to preserving, protecting, and enhancing vacation ownership. ARDA-ROC is an alliance of owners, developers, and managers who are committed to advocating for local, state, and federal policies that enable the vacation ownership industry to thrive. For more information, visit http://www.ardaroc.org.