Escape clause in Wyndham contract?

[Ridewithme38 Senior Member Find all posts View Profile Close Ridewithme38]

Deeded as Points.
Expires January 1, 2030.This deed expires due to an escape clause.

I've been search Ebay for TS's for years...and this is the first time i've heard this mentioned in a Resort associated with the Wyndham system(I've seen it in other resorts, mostly Mexico)...let alone Kingsgate...think this is just a mistake in the ad, or is there something about the Wyndham contract i don't know about...This is more then i want to pay upfront so i'm not buying it...but that caught my eye

Here's the Ad:
154,000 Wyndham Points WILLIAMSBURG VIRGINIA Timeshare | eBay

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

I'd bet mistake in the ad. There are some WYN-affiliated resorts in Mexico with fuses.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Some area has a set day for TS owner to vote to continue or discountinue its TS operation based on local law. Not sure if this one is one of them. But all 3 resorts in VA is set for deed.

Jya-Ning

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

Yes most timeshares have, in the bylaws, a date upon which all owners must vote to continue as a timeshare. But the deed does not expire. If, when the date arrives, a majority do not vote to continue as a timeshare the property would normally be sold and proceeds distributed.

But 2030 seems a bit early for Kingsgate.

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

That is the date for the expiration of the condo docs.. Don't count on that as an "escape clause".. At that time, a vote would be taken and most likely the docs would simply be extended for another specific period of time.

Even if the vote is to dissolve the condo, it does not mean that the owner's rights or responsibilities automatically terminate. The owners of record are still responsible for the costs involved for the sale process (and have a right to share in the proceeds of the sale if there are any). Normally, if a resort is dissolved- it has fallen into such a state that it has little true value and by the time costs and outstanding debt are cleared- there is little little to no money for the individual timeshare owner (who has likely spent thousands over the prior few years trying to keep the derelict operational).