2004 Grand Mayan Contract- Can I walk away at 25 years (2029)?Without paying the 5x maintinance fee and have no collection or credit problems? Help!!!

[Surfhappy]

Hi,

I bought a Grand Mayan 2 bedroom suites back in 2004, and now looking at the upcoming 25 years / 5x Maintinance fee in 2029. Is this a renewal or can I walk away at 2029 and have no collection or credit issues? The original contract is for 99 years.

Thanks in advance.

Jeff

 

[Travelingman1]

Hi,

I bought a Grand Mayan 2 bedroom suites back in 2004, and now looking at the upcoming 25 years / 5x Maintinance fee in 2029. Is this a renewal or can I walk away at 2029 and have no collection or credit issues? The original contract is for 99 years.

Thanks in advance.

Jeff

Hello,

Welcome to TUG @Surfhappy I hope you like it here and find useful advice

Mexican right-to-use resort membership whose contractual structure is somewhat counterintuitive. There is another thread on it:

Mayan Palace /Vidanta - end of the 25 year period

Hi folks, I have not posted in a very long time, but I am wondering, for those Mayan Palace Vidanta owners, have any of you come to the end of your first 25 year contract period and decided not to renew and pay the 5 X maintenance fee and get another 25 years...what is the procedure? Our 25 year...

tugbbs.com

In a nutshell:

The contract has a stated maximum duration often 99 years (such as yours).

However, the member’s actual usage rights are divided into 25-year periods. At the end of each 25-year period, the member must pay a substantial renewal fee, apparently five times the then-current maintenance fee in your case, to activate the next period.

Can you safely walk away?

Probably, you should not simply ignore the renewal bill. The decisive language will be in his specific 2004 contract.

Vidanta contracts changed materially over time, including differences in mandatory maintenance fees, renewal provisions, renovation assessments, transfer fees, and “pay only when used” clauses. TUG members consistently emphasize that the written contract, not a contemporary sales representative’s characterization, controls.

Look at your contract. Hopefully you can get out, hopefully renewal is optional.

If renewal is expressly optional, you should provide written notice before the deadline stating that he declines renewal, request written confirmation that the membership has terminated, and obtain a final statement showing a zero balance.

I hope this helps, check the link to the other thread LOTS of good info there.

GOOD LUCK and welcome!

 

[TUGBrian]

while there is a low chance of collections/credit hits when walking away from just your timeshare annual fee obligation (and even lower when dealing with a mexican based timeshare), its never zero.

you just have to ask yourself whats worse: a possible ding to your credit, or continuing to pay for the next 75 years.

 

[Surfhappy]

Thanks you! I’m currently at Vidanta Los Cabos and leaving Sat. They said they don’t have a copy of my contract, I do have a copy at home. They’re trying to upgrade me to a Grand Legacy two bedroom suites for $24k, and no obligation for maintinance fee of $3,200 per week for the two bedroom suite unless I use it. 4 weeks a year. It will basically get me out of my current obligation, and new contract will expire in 20 years if I don’t pay the 2x maintenance fee. Sounds like I can send in a formal letter before 2029 and cancel my current contract of if I don’t pay the 5x maintenance fee? Or upgrade to Gramd Legacy, which they said it’s basically Grand Luxxe but under a different name? After doing some research, I dont think so.

Thanks for all the input, this is my first time using TUG.

Jeff

 

[byeloe]

Thanks you! I’m currently at Vidanta Los Cabos and leaving Sat. They said they don’t have a copy of my contract, I do have a copy at home. They’re trying to upgrade me to a Grand Legacy two bedroom suites for $24k, and no obligation for maintinance fee of $3,200 per week for the two bedroom suite unless I use it. 4 weeks a year. It will basically get me out of my current obligation, and new contract will expire in 20 years if I don’t pay the 2x maintenance fee. Sounds like I can send in a formal letter before 2029 and cancel my current contract of if I don’t pay the 5x maintenance fee? Or upgrade to Gramd Legacy, which they said it’s basically Grand Luxxe but under a different name? After doing some research, I dont think so.

Thanks for all the input, this is my first time using TUG.

Jeff

I would not upgrade, if you are looking to get out in 2029

 

[Patri]

Do not upgrade. Get out however you can. If they won’t play fair, does a ding to your credit score even matter now? And it is very unlikely that will happen.

 

[Surfhappy]

I will hold off on upgrading and check my contract when I get home. Just wondering if anyone bought a Grand Mayan 2 bedroom suite around 2004 and walked away on year 25 without paying the 5x maintenance fee?

 

[pittle]

I have been an "owner/member" of various MP and GM and GL contracts since 1999. I still have my older contracts in a notebook. The GM upgrade one from 2006 that stated you should give a 90 day notice if you plan not to renew for another 25 years. If you upgrade to GM, the old contract is voided and you start over with whatever the new contract rules are. We traded in all 5 MP contracts (all but one bought resale on ebay) and our 2 weeks GM for GL in 2013.

My GL weeks are on a 10 year renewal for a 100 year contract. I do use my two 2-bedroom GL weeks each year with friends This year, I used a GL week in NV, a GM week in Cabo and have a MP week in PV scheduled for November. I will not be renewing at the end of 2033.

 

[Surfhappy]

I have been an "owner/member" of various MP and GM and GL contracts since 1999. I still have my older contracts in a notebook. The GM upgrade one from 2006 that stated you should give a 90 day notice if you plan not to renew for another 25 years. If you upgrade to GM, the old contract is voided and you start over with whatever the new contract rules are. We traded in all 5 MP contracts (all but one bought resale on ebay) and our 2 weeks GM for GL in 2013.

My GL weeks are on a 10 year renewal for a 100 year contract. I do use my two 2-bedroom GL weeks each year with friends This year, I used a GL week in NV, a GM week in Cabo and have a MP week in PV scheduled for November. I will not be renewing at the end of 2033.

Thank you so much for the info. I will give them the notice 90 days prior. So the 25 years (5x Maintinance fee) is a renewal? I thought I was on hook for 99 years and I had to pay every 25 years?

 

[bnoble]

I’d read the specific contract to be sure. Your renewal is not for several more years; you have time.

 

[T-Dot-Traveller]

Thank you so much for the info. I will give them the notice 90 days prior. So the 25 years (5x Maintinance fee) is a renewal? I thought I was on hook for 99 years and I had to pay every 25 years?

Hi @Surfhappy , other readers & @TUGBrian
The 25 year point [ 5xMF ] is a renewal. It is your option to renew for 25 years or exit in 2029.
Vidanta will be happy to get back your contract since the contracts before 2010 renew as Registered Weeks and
Registered Weeks are the secret sauce in the Mexican TS Sausage [ thanks to @tschwa2 for the phraseology]
[ newer contracts upon renewal have different terminology that apparently has a different "standing" in Mexican Consumer Law.]

 

[Surfhappy]

Thank you so much for the info. I will give them the notice 90 days prior. So the 25 years (5x Maintinance fee) is a renewal? I thought I was on hook for 99 years and I had to pay every 25 years?

Hi @Surfhappy , other readers & @TUGBrian
The 25 year point [ 5xMF ] is a renewal. It is your option to renew for 25 years or exit in 2029.
Vidanta will be happy to get back your contract since the contracts before 2010 renew as Registered Weeks and
Registered Weeks are the secret sauce in the Mexican TS Sausage [ thanks to @tschwa2 for the phraseology]
[ newer contracts upon renewal have different terminology that apparently has a different "standing" in Mexican Consumer Law.]

Wow, thank you so much for the info! So should I sell it to someone rather than give it back to Vidanta? The transfer fee is 10% as I recall.

 

[rpennisi]

I bought two MP 25 year contracts (2001 and 2004) both as resales in 2007. My 2001 contract just expired (in March) and I did not renew for 5X MF for another 25 years on that contract. They sent me a letter, we signed it that we are not renewing and it's over. Will do the same with the 2004 contract in 2029. No need to fret.
You could sell it to someone for the 10% fee to Vidanta, but is someone going to do that with only 3 years remaining. Plus they have to pay a closing fee in addition to the 10% to Vidanta.

 

[Surfhappy]

I bought two MP 25 year contracts (2001 and 2004) both as resales in 2007. My 2001 contract just expired (in March) and I did not renew for 5X MF for another 25 years on that contract. They sent me a letter, we signed it that we are not renewing and it's over. Will do the same with the 2004 contract in 2029. No need to fret.
You could sell it to someone for the 10% fee to Vidanta, but is someone going to do that with only 3 years remaining. Plus they have to pay a closing fee in addition to the 10% to Vidanta.

Thanks for the info. Sounds like I can just walk away on the 25th year. I feel better! Thanks