What if WKORV doesn't go thru ROFR

[luv_maui]

What's the risk if you buy a resale WKORV that doesn't go thru ROFR?

Hypothetical only. If you found a price directly from an owner that was good, could Starwood really do anything once the deed is recorded in your name?

 

[KOR5Star]

What's the risk if you buy a resale WKORV that doesn't go thru ROFR?

Hypothetical only. If you found a price directly from an owner that was good, could Starwood really do anything once the deed is recorded in your name?

You'd never get to the point of it being recorded in your name. The right of first refusal is the right to buy for that price instead of you. They would snatch the deal away from you, pay the owner what you were going to pay and it would become part of Starwood's inventory instead of yours.

 

[luv_maui]

You'd never get to the point of it being recorded in your name. The right of first refusal is the right to buy for that price instead of you. They would snatch the deal away from you, pay the owner what you were going to pay and it would become part of Starwood's inventory instead of yours.

So if Starwood hypothetically processed the paperwork but was never offered the ROFR, and the deed was recorded in your name, could they really do anything at that point?

 

[glenn1000]

By approving the sale and recording the deed they are passing on ROFR. Once it is owned I couldn't imagine that they could go back, excersize the right and take the property away.

 

[DavidnRobin]

So if Starwood hypothetically processed the paperwork but was never offered the ROFR, and the deed was recorded in your name, could they really do anything at that point?

This is covered in the CCC&Rs (Owners Manual).