Monarch Grand Vacations transfer requirement and fee info....

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Process for perpetual memberships (Owner # begins with 15).. All ownerships are biennial.

Both parties must complete the Assignment and Transfer form. Seller must also relinquish the original Ownership Certificate (if the Seller does not have this, a $65. lien release fee may also be required).

$100. transfer fee payable to Monarch Grand Vacations for each contract being transferred.


If buyer is already an owner and wants to combine the accounts- the transfer fee is increased to $300.


***

Process for deeded ownerships (point usage applied to home resort only)

Contact the home resort being transferred for specifics on the contract being transferred.. Some transfers are processed by MGV corporate and require the transfer requirements above, others are processed by the resort directly.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

All ownerships are biennial.

To clarify: ownerships points are for use during a 24 month time period.


All other info is my experience with MGV also.

Thanks

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

Hi,

I've located a MGV owner who is selling his ownership of 333 points. I have read this post and am trying to do as much research online as possible before handing over any money and signing any transfer papers.

From what I understand, this is a non-deed transfer of ownership. I asked the seller about the $100 transfer fee & Certificate of Ownership as stated above and he said it's the Seller's responsibility and that he'll take care of it. ...?

I'm really wet behind the ears when it comes to Time Share business and I pretty much just want to ask, what all should I be aware of/know/ask before-during-& after I purchase this Time Share from a private owner?

Thank you!

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

Motion for Order Pursuant to Bankruptcy

Okay, so doing a little more research online.. I just found out that Pacific Monarch Resorts, the Parent company for Monarch Grand Vacations, filed for bankruptcy and DRI has completed purchase of the company as of this year,
-=(wow!)=-... so, IDK if this is a good time to buy a timeshare w/MGV, what do you guys/gals think?

http://www.pacificmonarchbankruptcy....-for-order.pdf

Diamond Resorts Corp - FORM 8-K - EX-10.1 - ASSET PURCHASE AGREEMENT, - October 28, 2011

Letter sent to MGV Owners last year:

Dear Monarch Grand Vacations Owner:

As a valued owner of Monarch Grand Vacations, we feel it is important for you to hear from us this important news about Pacific Monarch Resorts, Inc.

On October 24, 2011, Pacific Monarch Resorts Inc., the developer and sales organization for Monarch Grand Vacations, entered into an agreement to sell a substantial portion of its assets to a subsidiary of Diamond Resorts International (“Diamond Resorts”). To affect the sale, Pacific Monarch voluntarily commenced Chapter 11 proceedings. The sale is subject to the approval of the U.S. bankruptcy court and certain other conditions. Assuming court approval is obtained and all conditions have been satisfied, Pacific Monarch Resorts anticipates the sale will close in the first quarter of 2012.

Diamond Resorts is one of the largest and most successful timeshare companies in the world with destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia, Australia and Africa.

Monarch Grand Vacations, Monarch Owner Services, and Resort Services Group are not part of the bankruptcy or the sale to Diamond Resorts, and will continue normal operations at our headquarters in Laguna Hills California, and our resort properties in California, Utah, Nevada and Mexico. In addition, the resort owner associations are not part of the bankruptcy or the sale, and will continue to act on behalf of all our owners. Central reservations as well as resort operations, maintenance, and management will continue as normal and will not be affected.

The Pacific Monarch Resorts sale to Diamond Resorts will have no effect on your rights, privileges or ownership, and you are encouraged to take advantage of our continued resort hospitality. You should also understand that your obligation to pay your annual resort ownership dues continues and if you have an outstanding loan, your monthly loan payments as well.

Please be aware that you may receive calls from unscrupulous timeshare resale companies attempting to scare you with information that is not true. It is important to remember that your ownership and rights have not changed and that all resorts are fully operational.

We will make every effort to keep you informed as we go forward with periodic updates, and we look forward to continuing to provide outstanding hospitality you have come to expect from Monarch Grand Vacations.


Sincerely,

Monarch Grand Vacations Board of Directors

..
.
*yiKes!?!?*

[islandgirl99 Junior Member Find all posts View Profile Close islandgirl99]

Hi~ I am brand new to TSF. I want to sell my Monarch Grand timeshare. is the above info still current? Where do I get the Assignment and Transfer form? Anything else you might want to add would be greatly appreciated, as I have no idea how to do this!

Thank you!

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

I am meeting with someone who is paying me to take over his timeshare. Why?

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

Either you work for a creepy (and often crooked) post card type company, are getting a good timeshare for less than free, or stupidly are accepting someone else's awful liability.

So tell us why ?

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

He advertised the following:

"Need someone with bad credit to take over my timeshare (Monterey park)

I have a Monarch Grand vacation timeshare 72 ownership points i wanto get rid off. The quarterly due is $70. 72 points are awarded everyother year. You will have 72 points to spend this year before 7/31/13. You will get new 72 points on 8/1/13 which you can spend rightaway. The dues have been paid for this quarter. Next one is due in 3 months.

I dont vacation at their resorts anymore but am contractually obligated to keep paying the dues. I am looking for someone willing to take over the ownership. You will get it for free and can take vacations immediately. I will also pay you $200 on top of it. If you decide you dont want to pay the dues you can stop, but keep in mind they can ruin your credit score. If you have bad credit already you have nothing to lose and $200 + free vacations to gain.

Location: Monterey park
it's NOT ok to contact this poster with services or other commercial interests
Compensation: $200"

My mother strongly cautioned against this. Honestly, it's a cash incentive for me. I'm presently scheduled to meet with him and a notary public this evening. Something isn't right about this, but I'm totally new to this so I've been trying to learn more...

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

The thing that seems wrong with it is that you are conspiring to commit fraud if you default. His ad could be used against you both.

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

The thing that seems wrong with it is that you are conspiring to commit fraud if you default. His ad could be used against you both.

Do elaborate... Is it the wording of his ad? I have no intention to default. I'd like to rent my time out to others.

[VegasBella Member Find all posts View Profile Close VegasBella]

"if you have bad credit already you have nothing to lose"

True statement; not conspiring to commit fraud.

Made me LOL.