Mexico RTU

[jimgior]

What happens to your timeshare at the end of the RTU?

 

[DeniseM]

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.

 

[alohakevin]

What happens to your timeshare at the end of the RTU?

What is RTU?

 

[Darwin]

What is RTU?

Right To Use.

 

[nodge]

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]

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