[2012] [Sheraton Vistana Resort - Courts] Proposed Amendment to Continue As Timeshare

[bogey21]

If I were an owner here I would be pushing to delay a resolution of this. My guess is that as the deadline 2020 approaches other alternatives will be put forward from which to choose.

George

 

[jarta]

If I were an owner here I would be pushing to delay a resolution of this. My guess is that as the deadline 2020 approaches other alternatives will be put forward from which to choose.

George

George, ... My guess is your guess is wrong. The 2 alternatives are right now and will be in 2010: fractionalized condo - with use rights dictated by a plan or fractionalized condo - with no plan for sorting out usage.

Why delay? What alternatives do you think could possibly be proposed by the Association board other than remain a fractionalized condo with a use plan or become a fractionalized condo without a use plan? I'd love to hear some.

PS The vote (then or now) will not determine whether Starwwod continues to manage the resort. Nor, will it abolish the condo system of ownership of the units and common areas. Nor, will any vote avoid the necessity of management of the property, the necessity of paying taxes, the necessity of insuring the property or the necessity of maintaining the property. Salty

 

[dbmarch]

I think this will be interesting to see how this plays out.

I suspect it will be difficult to get enough votes. There are typically a lot of owners that will not respond to these questionaire's and then there are the units that have no owners. Which way do you count them? ( I bet you can't count them).

Since you are really just voting to ammend the rules, I would guess they will try to vote on this ammendment every year until you reach 2020! If you reach 2020, it sounds like you get to vote for continuation of another 10 years. If this vote fails, the units get sold and the proceeds divided up to the owners. Until they are sold, you should be able to use them like you use them now. Only thing needed is a management company.

Do owners know what percentage of the unit they are entitled to? For PV, this is displayed when I log into my account. Our units are not all equal.

Who knows, maybe you will be able to buy a condo in the middle of SVR!

 

[travelbuff]

Red White or Blue?

Good Point, I have to check, but I think it is already already one level.

Just about every deeded timeshare resort has an expiration of the timeshare plan. Time frames vary, and rules vary by State. But the expiration exists because of the Rule Against Perpetuities.

Simplistically put, "perpetuity" as in "never ending" does not exist. It must be defined.

An interesting example is Marriott Desert Springs Villas II.
Rather than a fixed time frame, the governing documents define "perpetuity" as the death of the last living direct descendent of either George H. W. Bush, or, Bill Clinton (the then former and current Presidents). No joke.

So, the timeshare documents must be re-established (or entirely re-written). If they are not then each deed holder owns an undivided fractional interest in a specific condo. No master association, or anything for that matter, unless a majority of individual owners agree.

Can you imagine? It can turn into quite a mess.
No red, white, and blue weeks. Just a 52nd interest, where a Blue Season owner has exactly the same ownership interest as a Red owner, and all must agree on a equitable disposition.

Vistana Courts is being proactive about this. They better be. They have to get a majority in line. Not a majority of those who vote, but a majority of all owners. An owner who does not vote, is a vote against.
I would not be surprised if some owners get the idea that their condo should be sold. Or, or, ...

This will be interesting.

 

[travelbuff]

Running The Resort

There would be a management company that is not controlling the owners but that the owners control.

Ride - Just for fun, because it's not going to happen - but if they don't get the votes they need, and all contracts end in 2020 - who will: check you in, take out the trash, mow the lawn, wash the sheets, and throw out the riff raff?

How will you get all the owners together to figure out how to run the place?

Yes, you will still have a piece of paper with your name on it, but who is going to manage and maintain the resort?

 

[travelbuff]

Can't Sell Anyhow

We took our kids every year and they loved it and now our grandchildren do, too. But it is impossible to sell, so the only value is if we use it. When I take a vacation We would prefer not to have to put in a year in advance to exchange. Instead of paying for maintenance and exchange we could take a pretty nice vacation.

Selling isn't that easy, you have to be able to provide clear title to the buyer. When the TS plan collapses, we would at best have to get enough owners together for each unit to force the others to allow a sale through the courts. At worst, they would require all 52 owners to agree to sell. That would have to be done for every condo unit in the development. Once clear title to the entire development could be determined, then perhaps a buyer could be found. By the time that all happens my great grandchildren will have spent their entire inheritance trying to get the $1000 that great granddad's timeshare might possibly have been worth out of legal limbo. It's an impossible proposition!

Considering how long these things can drag out, I'm not sure that 8 years is enough time to get it done. I do hope that enough owners respond this time around for quorum, or we are going to be paying to keep asking the same question over and over until 2020.

 

[bankr63]

Update October 8th Vote

I guess we'll never know what would have happened. We recieved the following notice from Vistana Courts Owners Ass'n yesterday:

Exciting News from Your Courts Association Board of Directors!

Great News Fellow Courts Owner!

We are delighted to inform you that the amendment that ensures the continuation of the Courts’ timeshare plan was overwhelmingly approved by a vote of the membership conducted at the special membership meeting held yesterday, October 8th.

Ownership and use of your specific “week” and in your specific “unit” remains unchanged. You may continue to exchange your week through various exchange service providers. Additionally, SVN Members continue to have internal exchange rights.

More importantly, you and your family may continue to enjoy memorable vacations for many years to come!

Thank you for your participation and support in achieving this important milestone.

Sincerely,

Board of Directors
Vistana Condominium Association, Inc.

 

[Captron]

It will head up Starwood's timeshare business upon the closing of the transaction and will continue to work for the beautiful Paradise Island in the Bahamas as part of a proposed one. [spam link deleted]

Um....huh? I believe we were discussing Sheraton Vistana Resort - Courts phase in Orlando Florida. SVR Courts is the oldest of the associations in the Starwood network. Harborside Resort, located on Paradise island is a much newer resort also in the Starwood Network. Are you confusing the two? I am not sure what you are referring to here when you say proposed one?

THANKS DENISE! Feel free to delete this one too.

 

[DeniseM]

Sintargic is a spammer who brought this thread out of mothballs to post a nonsense post and a commercial link - posts deleted and poster banned.

 

[Ty1on]

it is though, right?

I'm no lawyer, but the case goods, their replacement and maintenance have been paid by the owners via maintenance fees and special assessments, so I would guess they would have to remain with the condos.

 

[DeniseM]

I'm no lawyer, but the case goods, their replacement and maintenance have been paid by the owners via maintenance fees and special assessments, so I would guess they would have to remain with the condos.

Preston - Just so you know - this is a 2012 thread, and Ridewithme38 was our resident troll at that time, but he isn't very active on TUG any more.

 

[timesharen00b]

maybe stupid question but any affect this has on SVV?

 

[DeniseM]

maybe stupid question but any affect this has on SVV?

This is an old thread - old news.