No longer wish to pay assessment fee. Options?

[Joyce82]

Hello, I have dutifully been paying my assessment fees for over 20 years with zero usage of the resort. I simply no longer wish to pay my assessment fees and I would like to discontinue my ownership in Rancho Banderas resorts. From I've learned, it's nearly impossible to sell my shares and I just want out. Any suggestions are greatly appreciated.

 

[pittle]

It is my understanding that the Rancho Banderas between Le Cruz and Punta Mita has been taken over by Marival - they have built a new resort right next to the old one and taken out the pool and restaurant. We visited that Rancho resort twice on day passes and then for a week with some friends who do own Marival and got 2 units so that we could join them.

You could notify them that you are no longer able to travel and would like to cancel you contract and will no longer pay assessment fees. They can sell it to someone else.

 

[Joyce82]

Yes, you are absolutely right - Rancho Banderas is owned by the Marival Group. Really? Just tell them I no longer can travel and do not want it any more and they'll sell to someone else? Will I have to pay some type of fees?

 

[geist1223]

You own nothing. Mexican Timeshares are simply a right to use. Just stop paying and ignore any telephone calls, letters, etc.

 

[Joyce82]

Can they ding my credit?

 

[Passepartout]

Can they ding my credit?

Nope.

 

[VanX]

Is it a 25 year Right to Use membership type or one that’s a deed and perpetual as long as you keep paying?

Is it a pre-paid all inclusive fee, a maintenance fee or an assessment fee?

I’m only familiar with the 1st two fee types and not the assessment kind you’ve mentioned.

Have you got the original contract still? Normally the Transfer fee for Mexican resorts in $150 USD for old versions or a % of the original price when you bought in.

 

[pittle]

Yes, you are absolutely right - Rancho Banderas is owned by the Marival Group. Really? Just tell them I no longer can travel and do not want it any more and they'll sell to someone else? Will I have to pay some type of fees?

It would be worth trying! There is really nothing that they can do as you are nearly at the end of your contract and it would not be worth them trying to get 4-5 more years of usage fees when they can sell the week to someone else!

 

[Joyce82]

Is it a 25 year Right to Use membership type or one that’s a deed and perpetual as long as you keep paying?

Is it a pre-paid all inclusive fee, a maintenance fee or an assessment fee?

I’m only familiar with the 1st two fee types and not the assessment kind you’ve mentioned.

Have you got the original contract still? Normally the Transfer fee for Mexican resorts in $150 USD for old versions or a % of the original price when you bought in.

I purchased the vacation points in 2005 and the purchase agreement states that all vacation points and shall terminate in 2047. I believe it's Right to Use membership as I paid for the points in 2005 and have been paying the assessment fee ever since.

 

[VanX]

Oh ok. I was asking about the assessment fee specifically because I own a Mexican right to use membership that requires annual payment of a fee but that fee works as a credit in my favor and grows each year.

In my membership it’s specifically called a pre-paid All inclusive feee due each January that is required in order for me to be able to book the resort. I bought the membership 2nd hand from someone like your lard who paid for 10 years.

So when I bought it there was an unknown $5k credit available for me to book nights with that the seller didn’t know about. Neither did the sales person who referred to it as an Annual Maintenance Fee. Which it isn’t.

Just wondering if yours might be similar and potentially have a cash value to the buyer that they can actually spend staying at the resort.

Good luck