Purchasing Hyatt Week...

[dagger1]

For all you helpful Hyatt owners out there, we are considering purchasing a Hyatt deeded June week/unit TS (2000 points). To clarify: Annual MF's are paid in December of every year; i will have 6 months after June 2017 to reserve my June 2018 week?
Or will receive 2000 points in June 2017 to use to trade in 2017-2018?
Do points unused in the sellers account transfer over to the buyer? Are there other Hyatt idiosyncrasies I should be aware of?
Sorry if this has been answered 10 times already...

 

[DAman]

First of all you need to know what you are contracting to purchase.

You will get a deeded week-say week 26 that is worth 2000 points. Is your first year of use 2018? If so, in June 2017 you will have access to your 2000 points for the June 2018 use. This is your HRPP period. This will last for 6 months or until the end of December 2017. You can elect to use your points or your deeded week during HRPP. After 6 months you enter CUP. That lasts for 6 months or up until the end of June 2018. You will lose the use of your deeded week but you still have the use of 2000 points. After two months of CUP(the end of February 2018) you lose your right to put your points in II, or EEE. After six months of CUP you will enter LCUP where you can still use your points but only for reservations within 60 days. LCUP lasts 6 months. After LCUP the points expire. If your points were transferred to II you will have 2 years to use them from the end of CUP.

MF will be due in December. They are usually posted in October on my week 26 unit.

Points transfer to the new owner but you should put this in the contract so all parties understand this. And do you reimburse for the MF's?

Lots of idiosyncrasies in Hyatt like other systems. Read all the posts and learn the rules. Do not ever allow your points to go to LCUP is my personal rule. The points are too valuable to waste or lose.

I am a happy Hyatt owner. A Gold II account is included in your MF's. Hyatt trades well in II.

 

[dagger1]

First of all you need to know what you are contracting to purchase.

You will get a deeded week-say week 26 that is worth 2000 points. Is your first year of use 2018? If so, in June 2017 you will have access to your 2000 points for the June 2018 use. This is your HRPP period. This will last for 6 months or until the end of December 2017. You can elect to use your points or your deeded week during HRPP. After 6 months you enter CUP. That lasts for 6 months or up until the end of June 2018. You will lose the use of your deeded week but you still have the use of 2000 points. After two months of CUP(the end of February 2018) you lose your right to put your points in II, or EEE. After six months of CUP you will enter LCUP where you can still use your points but only for reservations within 60 days. LCUP lasts 6 months. After LCUP the points expire. If your points were transferred to II you will have 2 years to use them from the end of CUP.

MF will be due in December. They are usually posted in October on my week 26 unit.

Points transfer to the new owner but you should put this in the contract so all parties understand this. And do you reimburse for the MF's?

Lots of idiosyncrasies in Hyatt like other systems. Read all the posts and learn the rules. Do not ever allow your points to go to LCUP is my personal rule. The points are too valuable to waste or lose.

I am a happy Hyatt owner. A Gold II account is included in your MF's. Hyatt trades well in II.

Thanks for the great info!! We are purchasing a week 23, and as per your comments the seller told us that MF have been paid (I assume back in December) and that 2000 points are available in June OR we have 6 months to book our unit next summer (2018). I'm not sure if there are unused points, I will ask. I didn't know if they transferred or not with the sale. We are going to use LT Transfers for our transaction, hopefully all goes smoothly!

 

[sts1732]

We recently sold our Hyatt wk. 27. In the declaration of taxes pd., points, pd. ownership/liens, etc. there was a specific question of reserved or not. Since we always used this week, and we had reserved it for 2017 as soon as we were able to. There was a choice of three, reserved, banked, or RESERVED WITH TRANSFERING TO NEW OWNER. I chose the last, I have not heard if the new owner has had a problem with the reservation for 2017, I hope not but we'll see.

 

[dagger1]

The sales contract shows there are still 460 points which will transfer. No reimbursement of MF, the current owner has used the majority of the points this year. Thanks for the comment above. Here's another question: I read somewhere that Hyatt Residence Club TS's reverted back to Hyatt after 88 years. However the deed specifies a specific week and unit, and also specifies "perpetual use" in accordance with Declaration and Resort Documents.... So it seems there is perpetual use, but maybe in the Resort Documents it's limited to 88 years? Any thoughts or clarification on this?

 

[ivywag]

It depends upon the location that you are purchasing. Some are deeded into perpetuity and some are deeded right to use until a certain date in the future.

 

[dagger1]

It depends upon the location that you are purchasing. Some are deeded into perpetuity and some are deeded right to use until a certain date in the future.

Thanks!! Guess I need to check the Resort Docs and Declarations to see if "perpetuity" means perpetuity or perpetuity for 88 years... i wonder where I would get a copy of those documents?

 

[Kal]

... So it seems there is perpetual use, but maybe in the Resort Documents it's limited to 88 years? Any thoughts or clarification on this?

So what will be your travel plans 75-88 years from now? Will the resort still be standing?? And in what condition?

 

[sts1732]

Thanks!! Guess I need to check the Resort Docs and Declarations to see if "perpetuity" means perpetuity or perpetuity for 88 years... i wonder where I would get a copy of those documents?

When we bought our first Hyatt at Sun set, at the dog and pony show. I asked that question to the guy who was doing the paper work. HOW LONG IS PERPETUITY ?, his reply was 90 yrs. Seemed like he was just blowing me off to keep me quite. As there is a number of yrs. that you or your ancestors can own it if they keep it up. I like Kals answer "what's your plans for the future 75-88-90 yrs.

 

[dagger1]

So what will be your travel plans 75-88 years from now? Will the resort still be standing?? And in what condition?

Touche' Haha, now that would be planning ahead!!!! I guess the reason I brought the subject up was that I didn't know that Hyatt deeds reverted to them until recently. I have heard that about Disney, but not Hyatt. But you are right, who cares after 88 years....?

 

[Sapper]

My understanding was there are two types of Hyatt ownership, deed and right to use (RTU). The RTU were like 75 years, and the deed type were unending. Are y'all saying that the deed type DOES revert to Hyatt at some point?

Also, On Kal's site, there is a list of which property falls into which category (cut and paste below).

Deeded Perpetuity:
* Beach House * Mountain Lodge
* Coconut Plantation * Piñon Pointe
* Grand Aspen * Sunset Harbor
* Main Street Station * Wild Oak Ranch

Right to Use (RTU) - 75 years:
* Hacienda del Mar * High Sierra Lodge
* Highlands Inn * Windward Pointe

 

[lizap]

So what will be your travel plans 75-88 years from now? Will the resort still be standing?? And in what condition?

I agree with Kal: not relevant for the vast majority of us..