# Morritt's Tortuga - how long to rescind?



## DorotaG (Jun 19, 2007)

How long do you get to rescind in Grand Cayman? We just came back and no, we did not buy, but a family we've met there purchased 1 bdrm in Tortuga for about $6500. I am pretty sure they can do better.  I advised them to do their research first, rescind now and take their time before buying. They can't find in their papers anything about rescinding. Do they get 7 days? I believe they signed the papers last Friday (June 15)...


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## johnmfaeth (Jun 19, 2007)

Many islands in the Caribbean do not have consumer protection laws which grant periods of rescindment. She should immediately contact the resort. 1 BR Poolside Tortuga units can be had for $2,500 on Redweek.com. She probably owned it the second the ink dried.


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## DorotaG (Jun 19, 2007)

Does it mean she has no way out?


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## KenK (Jun 19, 2007)

John is probably right.

Tom Cayman works at the Royal Resort in the Caymans and is a very helpful tug member.  You might see if you can find his e mail here.

He is also a volunteer on the www.tripadvisor.com website under the forums for the Cayman Islands.   You could ask the question on those forums, too, but do it now.

Maybe this ought to be moved so he might notice it faster


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## johnmfaeth (Jun 20, 2007)

I strongly agree with Ken's advice. I do not know specifics of the Cayman Islands laws.

It may also be worthwhile to call an attorney on Grand Cayman. Free advice on a discussion board is guaranteed to be as valuable and accurate as its cost  

While they overpaid (99% of all developer sales are overpriced), it's a very nice resort and trades well with RCI. If they cannot rescind, using it ever year is the way to go. After all, they'll be dead a long time, go out and live it up while you can.


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## DorotaG (Jun 20, 2007)

Thank you, Ken and John. I will pass your information to them (are you reading it, Cindy?  ). I agree, if they can't rescind, they will most likely be happy using it, but could have saved about $4000. At least it was not $14000.....


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## TomCayman (Jun 20, 2007)

Thx for the heads up, KenK

There are no laws in Cayman that specifically address rescission, so it really depends on the contract they signed.

I'm no lawyer, but I'd first suggest contacting the resort or their management company (which for Morritts is in Clearwater, FL... contact info on Morritts.com).

Another option is to call the credit card company and put a stop on the charge until it is resolved.

If I had someone who bought from me who really wanted to rescind that quickly, I wouldn't want to hold their feet to the fire


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## caribbean (Jun 20, 2007)

The Morritt's contract that we signed in 2001 had a no-rescind clause. So unless it has changed, which I highly doubt considering "King David" , they are out of luck. Just be glad you did not buy. Sure glad I sold mine. You couldn't give me a week there. Have them read every word of the contract. If it doesn't spell out how to rescind, then you can't.


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## KenK (Jun 21, 2007)

caribbean said:


> If it doesn't spell out how to rescind, then you can't.



Sometimes Mexican t/s sales contracts leave out any recind info.  But the Mexican law says buyers can recind....they just leave it out (or have the buyer initial they were told they can't recind.)


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## RMitchell (Jun 21, 2007)

Timeshare contracts (including Morritts) and sales speak are a lot like fuzzy logic. It's a huge case of buyer beware.


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## Floridaski (Jun 21, 2007)

We purchased a Morritt unit in 1999 and it did NOT have a clause to cancel.  We sadly like many others paid $18,500 dollars for a 2 bedroom unit.  We did not upgrade to the new Seaside, but I have been able pre-plan our vacations and have not had inventory issues.  We are basically happy owners, other then the problems with the resort being closed for repairs from the Hurricane.
But, the resort is back up and as you saw it is still a very nice place to stay.

So, I am afraid that they now own the unit.  But, it is not as bad of a resort as some people might say.  Many people became angry with the way the resort management handled the Hurricane repairs.  But, for every person who is upset there are many who are satisfied with the resort.  I love Grand Cayman and I still enjoy Morritts.  If I had to do it again, I might not have purchased at Morritts.  But, we have gotten our money's worth from our investment and we have had some great vacations.  Great vacations is the main reason to purchase any timeshare.

Your friends did not get a GREAT deal, but they did not get a horrible deal either.  When we purchased back in 1999, they were selling one bedroom units for $13,000.  So, your friends more then likely purchased a unit that was foreclosed and they still did not pay full developer prices.  I know David at Morritts would sell that one bedroom unit for closer to 12-13 K if he could.  So, $6500.00 dollars for a one bedroom unit is NOT a horrible deal.  Tell your friends to use the unit and enjoy it!


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## happymum (Jun 21, 2007)

caribbean said:


> The Morritt's contract that we signed in 2001 had a no-rescind clause. So unless it has changed, which I highly doubt considering "King David" , they are out of luck. Just be glad you did not buy. Sure glad I sold mine. You couldn't give me a week there. Have them read every word of the contract. If it doesn't spell out how to rescind, then you can't.



Patty. Would you mind sharing the reasons you were so unhappy with Morritts?
I am sure that it would be helpful for many Tuggers.
Thanks!


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## DorotaG (Jun 21, 2007)

Here is what they have done so far as the result of our conversations:

"We have contacted the resort people and asked to be let out of the deal.  Jim has said he is not aware of any recission, referred us to his boss who has not called us back, (correction, he just did and said that there is no way to cancel the contract).  We only put 10% down and the rest is due in 30 days.  What if we walk away from our deposit (which we would be happy to do) and not pay the other 90%?  Would they be able to wreck our credit?  We are still trying to ask nicely to be let out (Plan A).  Plan B is to go thru with it.  Plan C is to not pay the 90%, at which time they would take it back.  What could they do to us?   After all, when I read about the fully paid timeshare that was taken back when the family didn’t pay the special assessment after Ivan, I had less sympathy for the resort.  So we are still thinking about it.  Could you forward this to Tom Cayman, maybe he knows the drill regarding enforcement action from a Cayman perspective.  
Also, all the reasons we bought still exist.  We like the place, but feel that the extra $4000 paid over “resale” price is a surprisingly big difference and would rather use that money elsewhere if we could.  We are not wanting to wreck the credit rating for $4000 however."

My response to them:
"I am pretty sure that plan "C" would be not worth it at this poin because yes, they could mess up your credit. So, if you can't get out, use it and enjoy it! Many, many people pay way more then you for a timeshare they don't even want. It is an expensive lesson, but I know you can make the best of it."


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## Floridaski (Jun 21, 2007)

Yes they will more then likely wreck your credit.  That is how you got the unit from the developer for $6500.00.  I understand that it is more then you would pay for a resale to somebody looking to dump the week.  But, I promise you that it is half of what it was originally sold to the first owners!  Thank goodness you did not pay 12-13 K for the week! 

Do not beat yourself up over the purchase, it is not a terrible deal.  We purchased for much more then that.  Of course, our next timeshare purchases were resale, so it all balances out in the long run.  Plus, if we had rented rooms for the past 10 years, I would have spent over $30,000 dollars.  We tend to use one of our weeks for spring break ski trips.  Those weeks would cost at least $300 per night to rent.  So use the week at Morritts or prepay the MF and trade the unit.  I have gotten killer trades with a Jan-March RCI deposited units.  You get much lesser trades with weeks 14-50 deposits, so if you do plan to trade pre pay those MF and deposit early.

Good luck and have fun with it, it is not worth wrecking your credit over.


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## RMitchell (Jun 21, 2007)

Here I go again...At the time of the sale/ripoff did the sales person say that you could just walk away and the resort would just take it back? They told me that if I got home I could cancel but I would lose the down payment. No credit ding would happen (sales speak) Well...that just ain't so. They do like to come at you with lots of threats and make you feel welcome after they've got your money.


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## caribbeansun (Jun 22, 2007)

FWIW a $4,000 lesson is less than most get before finding out about the resale market.

The question you have to ask yourself is will it be worth it to get into a miserable drawn out conflict with the resort over $4,000.  Your impression of the place will be further tainted by this type of exchange so there will always be that nagging discomfort when you visit the resort.


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## ralphd (Jun 22, 2007)

happymum said:


> Patty. Would you mind sharing the reasons you were so unhappy with Morritts?
> I am sure that it would be helpful for many Tuggers.
> Thanks!




The resort has been slow recovering from the hurricane of '04. The owner has not settled the insurance claim with Lloyd's which has slowed the recovery. 
There is still one building which has not been started and probably will not be completed until the settlement has been finalized. It effects owners that transitioned to the new oceanfront Sea Side units. Which means approx. half of the units remain uncompleted.
The above does not effect the Grand, the Tortuga poolside units or the remaining renovated Tortuga oceanfront unit.
Because of the above, many owners have not been 'pleased' with the owner. The management did a bad job of communicating after the storm and did not do a good job of taking care of the employees.
The resort still offers the best timeshare value on the island. The amenities are good and the units are nice. Morritt's did (and I guess still is - Tom may know) bring more tourist to the island than any other resort.
That said, Tom has a nice resort next door, which adds to the amenities available to Morritt's owners and guests.


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## martinus_scriblerus (Jun 22, 2007)

Just so you know I have been tracking re-sales of Morritts on eBay for the last year or so. Recently, it has been EASILY possible to buy a one bedroom poolside for under $500. (no, I did not miss a zero). I bought my one bedroom OCEAN FRONT for under a grand.

There have been lots of sales at Tortuga on eBay. If you want to buy, just be patient as one will sell for the right price.


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## Noni (Jun 22, 2007)

It's great to buy resale, but if this is your first ts purchase and you got a    
1 BR Pool at Morritts for $6500, don't fret.  Enjoy it, and know that next time you can buy at a lower price.  We bought a 2BR TH at Morritts for much more, but it was done, and we have enjoyed going every year with the exception of the Ivan problem.

We did it and don't regret it.  It's a great place to go each year and has really good trading value, if you don't want to go, but I can't imagine that.  Our grandchildren think that it is a home away from home and that means a lot more than overpaying by a few dollars.  Apparently, you thought you could afford it when you bought, so ENJOY.

Hope to see you there.


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## cindi (Jul 15, 2007)

ralphd said:


> There is still one building which has not been started and probably will not be completed until the settlement has been finalized. It effects owners that transitioned to the new oceanfront Sea Side units. Which means approx. half of the units remain uncompleted.
> The above does not effect the Grand, the Tortuga poolside units or the remaining renovated Tortuga oceanfront unit.
> .



So if you are looking to purchase a resale unit, how do you know which ones are affected or not affected by the lack of completion? 

Are there certain unit numbers to stay away from? Or purchase? It seems like ALL the poolside units are ok, correct? 

How do you find the rennovated oceanfront units? Are they all redone with cement rather than wood? 

And owners were allowed to "upgrade" to the new building correct? If so, would they all be called Seaside? Are all the Seawide units ocean front?

I am seriously wanting to purchase there and trying to find out as much information as I can.


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## escargot (Jul 15, 2007)

HI Cindy !

The one completed building is "Seaside and/or Wembley".   It is concrete.  There is a second larger Seaside building to come,  but construction has not started.

Yes, owners were given the option, for a period of time, to transition from other units into the new Seaside project.

There are two associations ...  Tortuga Club ( includes poolside units, one remaining wood oceanfront building and the new Seaside building) and The Grand.

We own two bedroom Seaside units.  All are oceanfront,  as is The Grand and the remaining wood oceanfront building.

It is confusing.    

However,  we love the "seclusion" of the East End compared to the SMB area.   The optimal situation would be to wait and visit before buying,  but if you are really aching to pick up something,  I don't think you'll be disappointed if you have done your research on the area !


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## cindi (Jul 15, 2007)

escargot said:


> HI Cindy !
> 
> The one completed building is "Seaside and/or Wembley".   It is concrete.  There is a second larger Seaside building to come,  but construction has not started.
> 
> ...



Thanks for the information. It does help sort things out some.

Did you purchase new or upgrade to Seaside? Is the option still available for owners to upgrade? Maybe it would be smart to grab a Tortuga unit cheap and then pay the upgrade fees, if that is still an option?

I am trying very hard to be patient, be smart and wait til I actually stay there. But it is hard........and I think I am losing the battle...........:rofl:


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## escargot (Jul 15, 2007)

Cindi ....

We initially purchased a Tortuga Poolside unit from the developer and upgraded to Tortuga Oceanfront.    Then, Ivan hit.   

THEN,  we purchased another Tortuga Poolside on the re-sale market and transitioned both units to Seaside.   I believe the option to "transition" a unit to Seaside is over.    

We are very happy to go there every year... which I think is the key.

I have friends who bought a second Poolside Tortuga unit JUST to trade ... they do the "internal trades" through Global ( the leasing/managing group ) and are also happy as clams. 

Again,  if you research the area and have traveled the islands in general ,  I don't think you'll be disappointed !


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## cindi (Jul 15, 2007)

escargot said:


> Cindi ....
> 
> We initially purchased a Tortuga Poolside unit from the developer and upgraded to Tortuga Oceanfront.    Then, Ivan hit.
> 
> ...



That is excellent information. It answers the question about upgrading as an option. 

I have only been on St. Thomas and St. Martin, and those when on a cruise. I remember thinking St. Thomas was the most beautiful place I had ever seen when we were there. The water was the most beautiful turquoise..........

So I suppose until I actually SEE Grand Cayman, the smart thing to do is wait. 

Have I mentioned lately that I don't wait well...............:rofl:


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## jtridle (Jul 16, 2007)

escargot said:


> Cindi ....
> 
> We initially purchased a Tortuga Poolside unit from the developer and upgraded to Tortuga Oceanfront.    Then, Ivan hit.
> 
> ...


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## Htoo0 (Jul 16, 2007)

^ I don't think they combined both units into one but transitioned each and now have two Seasides.


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## escargot (Jul 16, 2007)

Htoo0 said:


> ^ I don't think they combined both units into one but transitioned each and now have two Seasides.



That is correct.  We bought one from the developer and one on the resale market.  We up-graded / transitioned / whatever and now own two Seaside units.   There were 2 fees to pay.


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