Quiting a timeshare.

[brucecz Moderator Find all posts View Profile Close brucecz]

The short of your question, you are stuck.
I have learned that one needs to learn how to "work it", it is sort of like a cult. Also, for the ones that do make it work they don't seem to be concerned when there is an increase in fees or when a new fee comes along.There are many ways to enjoy time off without owing at a timeshare resort while using the same timeshare resort.

Be careful and ask here before selling to be sure you can make the most of what you have, good luck.

Which timeshare cult do I.belong to? Or am I a multi-cult person?

In regards to maintenance fees I am aware the the costs of maintenance fuel, electric, insurance, etc are going to on a average go up every year on my home. Why wouldn't you not exspect the same types of cost increases at a timeshare? Those costs will also go up on hotels at about the same % rate.

But if you are going to vacation the cheapest is to stay in your back yard and put up a pup tent for your sheler to keep your vacation costs down.

You could also forage for nuts, berries and road kill to keep your vacation food costs down.

To the OP, there is no one simple answer as every resort has the own rules, etc so there is no "one size fits all rule" that can be included as a simple "101" statement.

Bruce

[BWolf Senior Member Find all posts View Profile Close BWolf]

The OP brought to mind a question, so I hope no one minds that I ask it here instead of starting a new thread.

I've seen some timeshare resale listings where the timeshare had an expiration date. You buy yearly use of a specific unit until, say, 2030, and then ownership expires.

So, the question: Does anyone know if this type of ownership is a timeshare by definition and are they still sold by developers?

Any expert feedback will be appreciated.

Thanks.

[brucecz Moderator Find all posts View Profile Close brucecz]

The OP brought to mind a question, so I hope no one minds that I ask it here instead of starting a new thread.

I've seen some timeshare resale listings where the timeshare had an expiration date. You buy yearly use of a specific unit until, say, 2030, and then ownership expires.

So, the question: Does anyone know if this type of ownership is a timeshare by definition and are they still sold by developers?

Any expert feedback will be appreciated.

Thanks.

They are a RTU or Right To Use. Yes, they are still being sold mainly out of the US.

But almost timeshares in their deeds have a date in their condo documents a date were the owners if enough vote for disolving the timeshare and have it sold and then divide the procedds among the owners.

Bruce

[Theo Senior Member Find all posts View Profile Close Theo]

Look very closely....

I think I will focus my attention on a shorter term right-to-use to start with as I expect my vacationing plans will change in the next 10-12 years as I near retirement.

I certainly don't profess to know all there is to know, but I have not personally seen a "right to use" of less than 20 years duration. I used to have a U.S. based RTU with Perennial Vacation Club (with a 20 year membership term). While that may well be a defined and finite time period, it's still 20 years worth of committment to annual maintenance fees until / unless you can sell, no matter how you spin it.....

[BWolf Senior Member Find all posts View Profile Close BWolf]

Just off the top of my head, Theo, some of the RTU resales I saw (that were billed as timeshares) only had a few years left on them.

Thanks brucecz for your answer.

I certainly don't profess to know all there is to know, but I have not personally seen a "right to use" of less than 20 years duration. I used to have a U.S. based RTU with Perennial Vacation Club (with a 20 year membership term). While that may well be a defined and finite time period, it's still 20 years worth of committment to annual maintenance fees until / unless you can sell, no matter how you spin it.....

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

The Royal Resorts of Cancun is all RTU with the Royal Mayan ending (around) 2014, Royal Caribbean 2018, Royal Islander 2023. When they built the Royal Sands, the RTU was increased to 50 years, so that resort ends around the middle of the century and may still have a few developer sales. The Royal Haciendas in Playa was also a 50 year RTU and still is being sold and may not be completed yet. The Royal RTU has a bonus to it called a residual- initially it was a return of the original purchase price (or more) on the first 3 Royals at the end of the RTU and a split among all owners for the subsequent Royals of the proceeds from selling the resort at the end of the RTU. The first Royal RTU already ended and with some creativity to the RTU terms but prior owners had a choice of money back or a discounted sale price (and RTU amount reduction) on a new 3o year RTU.

[Journeyman Junior Member Find all posts View Profile Close Journeyman]

Ouch

I'm new to the Forum. We bought a Diamond Resorts timeshare during a recent visit to Sedona. They really made us feel special and we thought we'd really read all the fine print. We returned to our home and decided a few days later to pay the thing off only to be hit with $500 "dues" for The Club.

I have just attempted, unsuccessfully, to book a stay at an overseas property this summer. Now, after browsing many of the comments throughout the site, I'm getting the sinking feeling that I have just made the worst financial choice of my life.

I don't feel so special anymore.

[1950bing Senior Member Find all posts View Profile Close 1950bing]

Trust me, you are VERY special to them !

[vintner Super Moderator Find all posts View Profile Close vintner]

The Royal Resorts of Cancun is all RTU with the Royal Mayan ending (around) 2014, Royal Caribbean 2018, Royal Islander 2023. When they built the Royal Sands, the RTU was increased to 50 years, so that resort ends around the middle of the century and may still have a few developer sales.

My FIL purchased Royal Sands few years ago. He bought (I think) weeks 1 and 2 or 2 and 3 and a buddy of his bought a following week so they have three weeks there.

His weeks are for sale. He is asking too much, but I am sure if someone was interested, I could talk some reasoning to him. Well...I could try to reason with him.