[ 2011 ] High Sierra Lodge Leasehold expiration

[work2travel]

I visited High Sierra Lodge recently and was quite impressed with the property. I understand it is a leasehold timeshare and was wondering if anyone knows why it may have been originally set up as a leasehold and if anyone is aware of owners options/rights once the leasehold expires. Thank you for your responses.

 

[work2travel]

A couple more questions for Hyatt High Sierra Lodge owners/experts: Can the timeshare be passed to your heirs? Is there a renewal option available to Hyatt High Sierra Lodge owners at the end of the lease period?

I would appreciate your input and thank you very much in advance for taking the time to share your knowledge.

 

[tahoeJoe]

I should know this...

... but I don't.

What year does the current RTU expire?

 

[work2travel]

From my informal research it seems that sellers of units indicate the timeshare leasehold/RTU period expires in 2075. I understand there is also a difference between a leasehold and an RTU but the ads seem to mix the two. Some leasehold arrangements have the right for renewal some dont. RTUs dont seem to have any renewal rights. If anyone knows the specifics for the High Sierra Lodge please let me know. 65 more years is more than I can possibly use the timeshare for but the ability to pass it down to my heirs (or not) is an important consideration.

Thank you!

 

[Sullco2]

(5) Hyatt High Sierra Lodge. Pursuant to the High Sierra Declaration, the condominium and timeshare plan for Hyatt High Sierra Lodge terminate when the underlying ground lease (the “High Sierra Ground Lease”) on the property terminates on December 31, 2075, unless the vacation club regime for the Hyatt High Sierra Lodge is terminated earlier in accordance with the terms of the High Sierra Declaration or the term is extended in accordance with the Resort Documents for Hyatt High Sierra Lodge.

 

[Kal]

...more years is more than I can possibly use the timeshare for but the ability to pass it down to my heirs (or not) is an important consideration....

Upkeep and renovation of any resort will be costly. Please consider how much the maintenance fees will be 10 years down the road, 20 years, 30 years. IF you continue to pay those fees is one thing, but it could be a real burden to hand that responsibility over to an heir. My guess is they won't take it.

Furthermore, do you want to spend time and money in a 75 year old resort?

 

[lizap]

I dunno, there are some pretty nice places in Italy that are a lot older than 75 years...

Upkeep and renovation of any resort will be costly. Please consider how much the maintenance fees will be 10 years down the road, 20 years, 30 years. IF you continue to pay those fees is one thing, but it could be a real burden to hand that responsibility over to an heir. My guess is they won't take it.

Furthermore, do you want to spend time and money in a 75 year old resort?