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[2012] Our resort closed..some questions [Isla Mujeres - Cristalmar]

wyobean

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We have 2 weeks of timeshare at a resort on Isla Mujeres called Cristalmar. We purchased them on the secondary market for $2500(total) back in 2000. Things have been going downhill for the last 5 yrs or so and in the fall of 2010 they closed temporarily. Well, they didn't open back up for the 2011 season, so we all found other places to stay. We chose to stay elsewhere this year, too. (they are still not open)So, should we be keeping up our mnt fees? At this time, 2 people are and the owner is providing them a place to stay. However, the places are not comparable. We have been doing some digging, but can't find much on what happens when the timeshare breaches the contract in this way. We have heard that they cannot shut down....lol
This was a very small resort and there are probably only 50 or so owners left. Just curious as to what you guys might know about such things. If it never opens again it is not a huge deal. We have certainly gotten our money out of it. Some people paid more for their weeks and have a bigger stake. Any and all thoughts or information is appreciated. I'm basically on a fact finding mission. Oh, some other things that I know....the place is for sale, the electricity is off because the bills haven't been paid, there is still money owed to some of the workers and there are some kind of back taxes due. Thanks
 
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Passepartout

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I'd cut my losses and bail out- assuming here that it's a RTU and there is no deed or underlying actual ownership of anything. If they can't pay the power bill, they aren't going to pursue the few owner/members who remain. It looks like the last person there DID turn off the lights.

Jim
 

rrlongwell

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I'd cut my losses and bail out- assuming here that it's a RTU and there is no deed or underlying actual ownership of anything. If they can't pay the power bill, they aren't going to pursue the few owner/members who remain. It looks like the last person there DID turn off the lights.

Jim

If the place is for sale, I would assemble you ownership documents and send them to a attorney in the jurisdication where the resort is and see if you have a monatary claim against the Resort, you may be in for a pleasant surprise if the place has equity in it. P.S. it sounds the lights were turned off by the power company. If a bankrupcy occures, make sure you file your claim for breach of contract with the appropriate court within the time frames. Just because it is in Mexico, there is no reason to believe you do not have recourse there.
 
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Monica

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If the place is for sale, I would assemble you ownership documents and send them to a attorney in the jurisdication where the resort is and see if you have a monatary claim against the Resort, you may be in for a pleasant surprise if the place has equity in it. P.S. it sounds the lights were turned off by the power company. If a bankrupcy occures, make sure you file your claim for breach of contract with the appropriate court within the time frames.

All sounds great...if in the US & not an RTU. In Mexico, suing for breach of contract due to bankrupcty & you receiving any compensation? :rofl: Don't hold your breath! :hysterical:
 
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DeniseM

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I would not spend a cent on this with a Mexican attorney or Mexican courts - why throw good money after bad.
 

wyobean

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Thanks

Thanks for the answers. We don't plan on doing anything with an attorney. We also don't feel we spent "bad" money. We have gone there every year for our 2 weeks and a couple times had an extra week. Thanks to TUG we didn't spend much initially and when you divide it out it has been well worth it. I was just wondering if anyone else had dealt with a similar situation. Thought I could find out how it turned out for them...whether it had been in their best interest to keep up the mnt fees.
Cristalmar is for sale and has been for quite some time. It is an individual owner who has basically taken the money and not done any maintenance, paid the utilities or the employees. He was not the original owner and I don't know when he bought it. He also owns a property in Coz(I don't know whether this is private or commercial). Supposedly both are for sale and he is planning on using the money from whichever one sells first to invest in the other one.
It is a RTU. Our contract is for 99 years. We assumed it from the original owner who made the investment back in the 80's. I'm on Isla right now and do not have my contract with me, so I am not able to give you exact information.
 

sarment

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also owners

Hi wyobean...
We are also owners for the last several years. We did not go to Isla last year, but were planning this year. If you find anything out, we would love to know. Also, are you in touch with any of the other owners?
Thanks.
-Sandra
 

DeniseM

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This post is from Jan., and Wyobean hasn't been back to TUG since Aug., so the best way to contact them would be to click on their blue user name and send them an email.
 

Krausse

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We are also timeshare owners of this property and are wondering what the current status is - whether it has been purchased or is still on the market. Any updates would be greatly appreciated!
Thanks, Krausse
 

cgcandi

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Christalmar

I am also a TS owner for the past 12 years. I recently received a post card saying I was no longer a time share owner and that the resort had been sold.
 

wyobean

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Well, I thought I better post a note here. This is from March, 2013: I have visited with several other owners and the former manager.nthe resort is still for sale. They were keeping the pool cleaned out so that it looked good for prospective buyers.
I will be back down in November and will be again visiting with the former manager. Wouldn't be holding my breath! :)
 
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