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Timeshare MRA law.

Updated on December 4, 2015

What is MRA?

MRA stands for Mutual Release Agreement; it is a law passed by ARDA that states all 3rd party entities, including: charities, businesses, banks, brokers, ect…. Have the ability to broker and liquidate Un-Divided Interest (UDI) based real-estate as a stock and sell deeded titles like contracts. In such cases, it represents the right of Contract Owners to transfer titles in a will to third party agencies or businesses.

MRA and Timeshare

MRA was originally created to enforce the right of consumers who purchase UDI based real-estate, mainly in the timeshare industry, and give customers the ability to ultimately eliminate such contracts though the process of Deed to Trust or UDI to OI. Timeshare companies, and other such agencies, restrict the right of consumers by locking them into high-risk contracts with reoccurring fees and taxes; Such debt ultimately will negatively effect the beneficiaries of such consumers. MRA represents the right of customers to null and void timeshare obligations, by transferring the debt to acquisition based companies. Acquisition based companies use these contracts to take over property or simply sell the debt back to the original developer.

MRA Consumer Scams

MRA was specifically designed to eliminate the regulations that timeshare companies have over consumers and give consumers a type of “exit strategy” in times of crises. However, as you can imagine, the last thing timeshare developers want is to lose customers or allow customers to simply “walk away”. Its because of this that timeshare companies such as Wyndham and Bluegreen, have created many MRA scams; these companies have pressured many of their customers to sign away there release rights in return for lower fees and contract deductions. As a consumer its your job to understand that signing away your legal rights is never a good idea and should be avoided at all cost.

How can I lose my MRA rights?

MRA is not an agreement made between Consumers and Developers, but rather, is an agreement made between Developers and Acquisition Companies. What this means is, you do not have the right to legally force a Timeshare Developer to allow you to will your timeshare to some random company. Specific companies, registered by the state, must meet certain terms in conditions to submit an MRA, before a release can take place. The most common companies to offer this service, in the timeshare industry, are Sindent and Spinnaker. These companies can submit an MRA at anytime, in which, you can agree to meet the terms as a consumer or close the agreement.

Such terms may include:

- Holding the contract for a year

- Paying Capital Gains

- Bankruptcy

- or switching to an OI based contract

Understand that if you are ever presented with an MRA and cannot meet the terms set forth by your timeshare developer, that closing the agreement will cause you to lose your release rights as a consumer; In such cases, you will lose your ability to eliminate any regulations your Developer puts forward and will forfeit all release rights of your beneficiaries. Timeshare Developers, by law, only have to issue an MRA one time; You must be very careful when making a decision to either except the terms or ultimately be trapped in your current contract.


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