Royal Haciendas Question

[BoaterMike]

With the end of our RC contract coming in two years, we are considering the purchase of week at RH. We are obviously well aware of the AI requirements, so we are looking at the feasibility to title the purchase as some sort of a family trust. We would prefer that if our son or daughter would come that they are considered as owners. Have any RH owners done anything similar?

Mike

 

[buceo]

We thought about it and asked. We did get a trust. However, our trust lawyer suggested for the MX timeshares to put anyone on the contract that does not mind being responsible for the fees whether we are alive or dead. So not apart of the Trust. So I will (I have yet to) add my brother and put him on a bank account in which I have MF money stored. So he "gets" the timeshares and the money to pay the fees in case we die just as the fees are due and his name is on the contract.

 

[BoaterMike]

That's along the lines I was thinking, Glenn. We have talked about having some of my wife's family involved, but I prefer not to complicate matters more than they already are.

Mike

 

[buceo]

I think you might get more feedback under the buying/selling forum with a thread title more generic such as, "purchase put in a family trust ?", just a suggestion.

 

[BoaterMike]

I think you might get more feedback under the buying/selling forum with a thread title more generic such as, "purchase put in a family trust ?", just a suggestion.

Thanks. I'm planning on taking a deeper dive next week.

Mike

 

[tschwa2]

With the end of our RC contract coming in two years, we are considering the purchase of week at RH. We are obviously well aware of the AI requirements, so we are looking at the feasibility to title the purchase as some sort of a family trust. We would prefer that if our son or daughter would come that they are considered as owners. Have any RH owners done anything similar?

Mike

My understanding is anyone using an owner week is not required to purchase the AI. Anyone using an exchange into a Royal with Mandatory AI using a Royal week (even a guest) isn't required to purchase AI. The only advantage actual owners have is they can exchange into a Royal AI using a non Royal exchange and still won't have to pay the AI. So unless that is the case you don't have to worry about who is listed as the owner of the week.

 

[BoaterMike]

My understanding is anyone using an owner week is not required to purchase the AI. Anyone using an exchange into a Royal with Mandatory AI using a Royal week (even a guest) isn't required to purchase AI. The only advantage actual owners have is they can exchange into a Royal AI using a non Royal exchange and still won't have to pay the AI. So unless that is the case you don't have to worry about who is listed as the owner of the week.

Thanks. I realized yesterday that I should go back and read the fine print. It's been years since I read that information. I should have done that first before posting. We will just have to manage the situation if we happen to exchange in with a Marriott week after RC expires. Otherwise, I think we'll be able to work fine within the parameters.

Mike