• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Mexico RTU

jimgior

TUG Member
Joined
Mar 10, 2012
Messages
32
Reaction score
0
Points
116
What happens to your timeshare at the end of the RTU?
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
57,672
Reaction score
9,091
Points
1,849
Resorts Owned
WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
What happens to your timeshare at the end of the RTU?

Your ownership ends, and it reverts back to the resort. However, Lagunamar is supposed to have some kind of perpetual 99 year RTU.
 

nodge

TUG Member
Joined
Jun 10, 2006
Messages
1,321
Reaction score
1
Points
36
Location
Portland, Oregon
Lagunamar is supposed to have some kind of perpetual 99 year RTU.

Here is a link to info about the "renewable trust" at the Westin Lagunamar. It isn't a "Right To Use (RTU)" the property for a limited term like pretty much all the other timeshares in Mexico. Instead, a "renewable trust" is as close to fee simple a foreigner wanting to buy Mexican real estate within 50 Kilometers of a coast line can get. But if you read the link you'll see why I think it may still not be close enough.

-nodge
 

jarta

TUG Member
Joined
Feb 1, 2008
Messages
2,916
Reaction score
1
Points
273
Location
Chicago
Upon purchase of a week (you get a fee simple deed), the buyer agrees the deed to the week is to be deposited in a Mexican trust. The Mexican trust has Mexican nationals (bankers) as trustees and holds legal title to the trust assets (the deeds). The trustees administer the day-to-day affairs of the trust. The trust administers the right to use granted in the deed for the benefit of the owners of the weeks sold.

The trust expires in 50 years and may automatically be renewed for another 50 by the trustees. Not at home so I don't have easy access to the original documents I received. So, this is all IIRR.

Despite the questions raised in the linked post, nobody has claimed to have problems transferring title at Lagunamar. Salty
 
Top