Fiesta Americana - No Penalty Deed back??

[Redeye563]

I have a Fiesta Americana RTU that I want to sell, but realistically it isn’t worth anything. I just saw this in my purchase agreement.

Am I crazy or does the Security Interest paragraph in the attachment say I can walk away from this timeshare without penalty simply by not paying the maintenance fee? It’s paid off.

I’m not a fan of defaulting on something so that it might hurt my credit, but this doesn’t look like that to me.

Anyone with first hand experience?

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[TUGBrian]

probably wouldnt hurt to reach out to them and ask about just ending the ownership!

 

[Redeye563]

probably wouldnt hurt to reach out to them and ask about just ending the ownership!

True. But that’s always such a pleasure. I was just hoping someone here already knew the answer.

 

[TUGBrian]

unfortunately even if someone had an experience with it in the past it wouldnt guarantee youd have the same luck now!

 

[CarlosRobayo23]

I have a Fiesta Americana RTU that I want to sell, but realistically it isn’t worth anything. I just saw this in my purchase agreement.

Am I crazy or does the Security Interest paragraph in the attachment say I can walk away from this timeshare without penalty simply by not paying the maintenance fee? It’s paid off.

I’m not a fan of defaulting on something so that it might hurt my credit, but this doesn’t look like that to me.

Anyone with first hand experience?

Attachments​

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  image.jpg
  144 KB · Views: 5

You can transfer your FAVC to another user; there could be someone interested. I received an FAVC many years ago and still use it.

How many points per year do you have? I could be interested.

 

[Redeye563]

You can transfer your FAVC to another user; there could be someone interested. I received an FAVC many years ago and still use it.

How many points per year do you have? I could be interested.

I was working on the ad when I saw that paragraph.

its a 40 year membership at 1600 points for a Gold season Studio Unit at Los Cabos that expires July 2042. I still have all the points for this year and the MF of $722 is paid for this year. It’s yours for the closing costs and the $100 transfer fees.

Are there closing costs for an RTU? Don’t really need a title company. Or do you?

 

[Redeye563]

What would a title company do when selling/giving away an RTU since there isn’t a title/deed? Is one required? Is it still a good idea? What has anyone done in the past?

 

[Scottytunes]

hi, I saw you working on this in several posts. Did you end up having any luck transferring/cancelling your FAVC membership? I'm contemplating the same. Would love to hear where things landed for you thanks!