I wish to explain a transaction no right-thinking Trinbagonian on vacation in Florida must enter into and the reasons why.

There is a type of ownership of property offered in some holiday resorts that involves the purchase of the use of a suite, of varying sizes, for a minimum period of one week per year.

In 1994, as a young, bushy-tailed, newly married man on honeymoon in Miami, I was eager to visit Disney World with my wonderful bride. However, the cost of tickets was exorbitant, given the exchange rate and other incidental expenses.

In most of the malls in Miami, and along the main artery – the US192 – in Kissimmee, Orlando there were booths (which are still present today) with signs “Disney Discounts,” or, “Free tickets to Theme Parks,” which were all very alluring.

All that was required, the agents said to us, in order to get US$100 cash or two discounted tickets to the major theme parks of our choice, was a one-hour attendance at a conference in a time-share resort location, with free breakfast and free transportation to and from the resort.

What was there to lose? This was too good to be true. We thought: simply attend the meeting, listen then reject the offer, sign and receive our free money or discounted tickets.

We were wrong! What followed next was and still is, a 30-year nightmare!

We were mentally beaten into submission to purchase a one-week annual use of a one-bedroom suite at the resort at an attractive price (or so it seemed).

However, no one explained that the yearly maintenance fee would increase annually. Incredibly, this fee is now actually the equivalent of a similar hotel rate for the same week.

No one explained that time-share ownership is almost, if not impossible, to resell. We have tried many times in the last 20 years to get rid of this yoke from around our necks. An agent once took our money promising to advertise the time share. We never heard from that advertising company again. The agent was impossible to reach.

We spoke to several friends about purchasing, but information on transferring ownership was not forthcoming.

Whenever we use the time share we are cajoled into attending another session at the resort to be “updated” on improvements at the hotel or the resort chain (depending on who were the current owners). This really is an attempt to sell you more time share.

Finally, these companies are designed to make money continuously from your ownership.

In addition to the initial outlay, you pay a yearly maintenance fee, a yearly fee to a transfer company (in the event you wish to go to a different location), and there is a transfer fee – when you actually exchange to another destination.

Rigged to all these fees are very tight penalties for deadlines missed, and interest charges for periods of non-payment of each fee. Americans do not make joke with their contracts. Sweet TT, I say!

A good friend recently told me of her struggle to get out of her time-share horror. After she stopped paying the fees, she was threatened by American lawyers, a lawsuit was filed against her in Florida for outstanding fees and interest, she was constantly harassed at home with a tonne-load of correspondences and perky telephone calls until, miraculously, everything stopped and she was free at last.

Summer holidays are upon us.

Many Trinbagonians flock to the closest entry point into the US, which is Miami – famous for shopping, night life and above all, the magic of Disneyland! But please do not fall prey to the lure of time-share ownership. From our experience, time share offers a few days of bliss, but a lifetime of financial pain and torment.

YASEEN AHMED

Port of Spain