Hi Tuggers,
I am thinking of taking over a RTU lease. The lease only has six years on left of use. Does this need to be done like a deed or is there a simpler way to do this?
Does LT Transfers deal with this sort of thing? I only want it for the 6 remaining years as I have too many timeshares already. Any advice ,
good or bad idea?
Silentg
RTU contracts are not ownerships and are
not like deeds. Accordingly, LT Transfers would be of little or no use or value to you in conducting a RTU contract transfer.
RTU contract transfers are generally handled
internally at the resort level, so you should probably contact the FL resort directly to inquire about their particular requirements, paperwork and procedures. That call might also be a good opportunity to
confirm the end date of the specific RTU contract whose transfer you are considering accepting. There may be transfer fees involved to process the contract transfer (although maybe not; practices vary). The good news of course is that you will have a guaranteed "exit strategy" if there
are indeed only 6 years remaining on the existing RTU contract you are considering taking over (...look
very closely into contract "renewal" details (if any exist) to ensure that there is not some built-in "auto renewal" from which you would have to actively "opt out" by some specific date).
Fwiw, if you are a beach person, you should perhaps consider that it's about a 45 minute drive to the nearest actual Gulf beach (...Englewood, I think) from Fisherman's Village in Punta Gorda, which is in a sort of "mangrove coast" area. We stayed at Fisherman's Village once for a few days some years back; we found the immediate area to be a real snooze and seemingly in "economic "downturn" at the time --- but the fishing was decent. Hurricane Charley later "blew out" Charlotte Harbor, and the BP Gulf oil well disaster occurred some years thereafter, so I don't really know to what degree the area fishing ever really recovered from those "beatings".