go-rebels
newbie
I understood that my timeshares were "in perpetuum", never to expire. But when I read my contracts I see:
(Signed in 1995) "TOGETHER with a vested remainder over, on the first Saturday in the year 2025 at 4:00 o'clock p.m. Eastern Standard Time, in fee simple absolute as a tenant in common with all other time-share owners in the aforesaid time-share unit, as all wed and provided by Article XIV, of the aforesaid Project and Time-Share Instrument.
(Signed in 1998) That the Grantors, in consideration of Ten dollars and other good and valuable consideration to them paid by the Grantees, the receipt of which is hereby acknowledged, have bargained and sold, and by these presents do grant, bargain, sell and convey, subject to the restrictions, easements, and other conditions hereinafter contained, unto the aforesaid Grantees, their heirs, devisees, successors and assign, the following described property from 4:00 P.M. on the first day until 4:00 P.M on the last day assigned to said Grantees during the below described Lot Week(s) Number(s) as said Lot Week is numbered an defined in the Declaration of Individual and/or Interval Ownership recorded in the public records of Jackson county, North Carolina, in the Book at the page number hereinafter described below, which estate is to be succeeded forthwith by a succession of other estates in consecutive and chronological order, revolving among the other Lot Weeks described in the aforesaid Declaration of Individual and/or Interval ownership, in order annually, it being the intent of this instrument that each Lot Week shall be considered a separate estate held separately and independently by the respective owners thereof for and during the period of time assigned to each in said Declaration, each said estate being succeeded by the next in unending succession governed by sad Declaration until 4:00 P.M on the first Friday in the year 2023, as of which date said estate shall terminate, unless extended as provided in said Declaration.
Do these timeshares expire in 2023 and 2025?
Does someone have their 20 year old sales contract handy to see if it contains similar text?
(Signed in 1995) "TOGETHER with a vested remainder over, on the first Saturday in the year 2025 at 4:00 o'clock p.m. Eastern Standard Time, in fee simple absolute as a tenant in common with all other time-share owners in the aforesaid time-share unit, as all wed and provided by Article XIV, of the aforesaid Project and Time-Share Instrument.
(Signed in 1998) That the Grantors, in consideration of Ten dollars and other good and valuable consideration to them paid by the Grantees, the receipt of which is hereby acknowledged, have bargained and sold, and by these presents do grant, bargain, sell and convey, subject to the restrictions, easements, and other conditions hereinafter contained, unto the aforesaid Grantees, their heirs, devisees, successors and assign, the following described property from 4:00 P.M. on the first day until 4:00 P.M on the last day assigned to said Grantees during the below described Lot Week(s) Number(s) as said Lot Week is numbered an defined in the Declaration of Individual and/or Interval Ownership recorded in the public records of Jackson county, North Carolina, in the Book at the page number hereinafter described below, which estate is to be succeeded forthwith by a succession of other estates in consecutive and chronological order, revolving among the other Lot Weeks described in the aforesaid Declaration of Individual and/or Interval ownership, in order annually, it being the intent of this instrument that each Lot Week shall be considered a separate estate held separately and independently by the respective owners thereof for and during the period of time assigned to each in said Declaration, each said estate being succeeded by the next in unending succession governed by sad Declaration until 4:00 P.M on the first Friday in the year 2023, as of which date said estate shall terminate, unless extended as provided in said Declaration.
Do these timeshares expire in 2023 and 2025?
Does someone have their 20 year old sales contract handy to see if it contains similar text?
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