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Just Attended Grand Mayan Presentation

JohnD71

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Oct 5, 2009
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We are at the Cancun GM. Attended the presentation today. We purchased our timeshare on eBay at least 15 years ago. The presentation focused on moving from the timeshare to a fractional ownership. We would get 4 weeks and they would “buy”2 over 5 years. They wanted $35000 and 10% down today. Would not give us a copy of the contract for us to review with an attorney in the States. No more annual fees unless we used the one or two weeks (they would keep the other 2). We declined. Two questions.
1. Have others here done this conversion? Why or why not?
2. Is it as hard as we have been told the get out of the current contract upon our passing? Saddling our children with an ongoing commitment.
Thanks in advance.
 

Eric B

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Vacation Village, Wyndham, WorldMark, Vistana, Vidanta, Flora Farms, HGVC Max, and some independents
1. Have others here done this conversion? Why or why not?
I have upgraded a contract with Vidanta in the past, recognizing that much of what they say is not true. For example, the buying two weeks from you for 5 years - that's just their way of lowering the price because you didn't bite at the higher price they started at while trying to leave you with an unchanged estimate of the value.
2. Is it as hard as we have been told the get out of the current contract upon our passing? Saddling our children with an ongoing commitment.
It is absolutely not difficult for an heir to get out of a Mexican timeshare contract unless you have added their names to it. That's the case with any timeshare ownership because an heir can decline any bequest in a will or from an estate going through probate. But for a Mexican timeshare like Vidanta it is even easier because they would have to actually apply with Vidanta in order to have the contract transferred into their names. Additionally, the Vidanta contracts are for set periods of time and require payments to renew them - if you bought this one 15 years ago it probably has a renewal every 25 years. If you don't have a copy of the contract, as Vidanta member services to send you one.

Finally, conventional wisdom is that if you were to want out of the contract and they declined to release you from it, the simplest way is to just stop paying. It's difficult and can be costly to pursue you for payments from Mexico. YMMV.
 

JohnD71

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I have upgraded a contract with Vidanta in the past, recognizing that much of what they say is not true. For example, the buying two weeks from you for 5 years - that's just their way of lowering the price because you didn't bite at the higher price they started at while trying to leave you with an unchanged estimate of the value.

It is absolutely not difficult for an heir to get out of a Mexican timeshare contract unless you have added their names to it. That's the case with any timeshare ownership because an heir can decline any bequest in a will or from an estate going through probate. But for a Mexican timeshare like Vidanta it is even easier because they would have to actually apply with Vidanta in order to have the contract transferred into their names. Additionally, the Vidanta contracts are for set periods of time and require payments to renew them - if you bought this one 15 years ago it probably has a renewal every 25 years. If you don't have a copy of the contract, as Vidanta member services to send you one.

Finally, conventional wisdom is that if you were to want out of the contract and they declined to release you from it, the simplest way is to just stop paying. It's difficult and can be costly to pursue you for payments from Mexico. YMMV.
Thanks for the prompt replies.
 
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