My grandparents are no longer able to travel. They asked me to help them figure out what their options are. I do not own a timeshare, so this is all very new to me. I asked them to give me what paperwork they had, but what they provided was very minimal. Should they have a deed or contract that would include week/dates/season/bed/bath, etc.? Once I have this, I think I can get a better idea of current/historical sales and rental prices.
I think our first step should be to call the resorts to see:
1. Will they buy it back?
2. What is the transfer fee?
3. Will they handle the transfer paperwork and is it included in the transfer fee?
I have read through several of these threads, and I think their best option might be to transfer ownership to a family member (we have a large family). If the resort won't handle the transfer paperwork, we should utilize a transfer company correct? Do we need their original deed/contract for the transfer? anything else they would have to find?
So far, I know they own at Mayan Palace Puerto Vallarta and Lawaii Beach Resort and exchange with RCI. They could also potentially have more I am not aware of yet.
Any help you could provide would be appreciated!
I think our first step should be to call the resorts to see:
1. Will they buy it back?
2. What is the transfer fee?
3. Will they handle the transfer paperwork and is it included in the transfer fee?
I have read through several of these threads, and I think their best option might be to transfer ownership to a family member (we have a large family). If the resort won't handle the transfer paperwork, we should utilize a transfer company correct? Do we need their original deed/contract for the transfer? anything else they would have to find?
So far, I know they own at Mayan Palace Puerto Vallarta and Lawaii Beach Resort and exchange with RCI. They could also potentially have more I am not aware of yet.
Any help you could provide would be appreciated!