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Can a timeshare ownership have an end date? [Pono Kai]

M

moewalker

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My parents bought one week per year at Pono Kai via a Glen Ivy Resorts "Short Form Purchase Money Mortgage" on May 7, 1988. My mother recalls it having a 20-year commitment at which time she could stop paying annual maintenance fees, etc, and relinquish ownership. The Release of Mortgage is dated November 5, 1993. Maintenance fees and property taxes are up to date (through 2015) via payments to Interval International. The unit has been used by our family once in the past 11 years. Does anyone know if this 20-year commitment existed?
 
That would be unusual - you should look at her deed, and see what it actually says.

Also, Interval International is an exchange company - they don't sell timeshares, so any payments she is making to them are for her exchange company membership.
 
This could be a Right to Use (RTU) lease. We had a timeshare lease that has expired and we did not opt to renew.
 
I was reading through my (El Cid Mazatlan) documents this past weekend and found the 20 year termination also. Did not know that was possible. But, it IS Mexico.
 
Yes - In Mexico, timeshares are RTU, but this TS is in the US.
 
When we purchased at Maui Lea at Maui Hill, which is on leasehold, we were told there was a termination date. But, if I recall it was so far out in the future we didn't worry about it. So, these dates can exist for U.S. timeshares.

I'm going to go look at the paperwork and see if I can figure out what it said.

I'm back. As best I can tell the lease goes through 2049. I think it's already been extended at least once, and dh remembers being told when we bought that most likely the lease would continue to be extended.
 
Last edited:
That is a little different - they are almost always renewed. It actually takes an overwhelming vote by the owners to end the continuation of the resort as a timeshare - it isn't an automatic thing.
 
DeniseM said:
That is a little different - they are almost always renewed. It actually takes an overwhelming vote by the owners to end the continuation of the resort as a timeshare - it isn't an automatic thing.
Click to expand...

I just updated my post to show what I found.

And I think in the case of the leaseholds in Hawaii it's not just up to the owners. Doesn't the state have something to say as well?

Back I go to do more research.
 
Yes, but if the OP's mom bought in 1988, 20 years was up in 2008, and we know that the Pono Kai is still very much in business. I believe the OP's mother was under the impression that individual owners could opt out after 20 years.

On the other hand, if she did buy some kind of expiring 20 year membership, she may have not been aware it expired, because she continued paying for the Interval membership, thinking it was MF payment.
 
I believe there is confusion between the leasehold and being able to cancel
Ownership. The Pono Kai was leasehold but then they did end out purchasing the
Land so the leasehold does not apply anymore. On some EBay auctions you
Still see some of them listed as leasehold but it no longer applies.

I believe the leasehold ended sometime between 2005 and 2008. To make a
Long story short there is no canceling the ownership.
 
moewalker said:
My parents bought one week per year at Pono Kai via a Glen Ivy Resorts "Short Form Purchase Money Mortgage" on May 7, 1988. My mother recalls it having a 20-year commitment at which time she could stop paying annual maintenance fees, etc, and relinquish ownership. The Release of Mortgage is dated November 5, 1993. Maintenance fees and property taxes are up to date (through 2015) via payments to Interval International. The unit has been used by our family once in the past 11 years. Does anyone know if this 20-year commitment existed?
Click to expand...

Sounds to me like she had a 20 yr mortgage.
 
Some of the early Glen Ivy timeshares were RTU. Whether this was one or not, I don't know.

Fern
 
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