Playa andaluza - Spain

[Englishsteve2017]

Hi

I wondered if anyone can help. I'm thinking of buying a timeshare at Marriott playa Andaluza and understand it's an RTU until 2052. This maybe a silly question but what happens in 2052 does my ownership just go back to Marriott for free or as the Marriott sales man told me. The property is sold off and I get a share of the sale price depending on my ownership week etc.

 

[bazzap]

Hi

I wondered if anyone can help. I'm thinking of buying a timeshare at Marriott playa Andaluza and understand it's an RTU until 2052. This maybe a silly question but what happens in 2052 does my ownership just go back to Marriott for free or as the Marriott sales man told me. The property is sold off and I get a share of the sale price depending on my ownership week etc.

We also own at Playa Andaluza.
Come 2052, either the MVC agreement will be renewed and we will continue to be Owners as we are now or the property will be sold off and we will all get a share of the sale price.
I will then be 101, so will welcome a large capital injection!

 

[Fasttr]

I will then be 101, so will welcome a large capital injection!

Now that's Estate PLANNING!!!

 

[Englishsteve2017]

That's what they told me, but why do we have a rtu and is there anywhere in your paperwork to say that. Do they just not take it back for free in 2052?

 

[bazzap]

That's what they told me, but why do we have a rtu and is there anywhere in your paperwork to say that. Do they just not take it back for free in 2052?

No they absolutely cannot just take it back for free in 2052.
I will try to dig out the paperwork to find the wording that confirms this.
Meanwhile, you might be interested in reading this article
http://www.travelingformiles.com/timeshare-tip-1-deeded-v-right-to-use/

 

[Englishsteve2017]

Ok fair enough if you are sure. I didn't know if it was just a sales pitch. Why is playa until 2052 and Marbella is to 2080-ish. Why not say you own it forever like the US properties?

 

[bazzap]

Ok fair enough if you are sure. I didn't know if it was just a sales pitch. Why is playa until 2052 and Marbella is to 2080-ish. Why not say you own it forever like the US properties?

I have only just read your follow up question.
I can't really answer this, I have dug out my documentation now though.
Playa Andaluza RTU runs until 2052.
Club Son Antem RTU runs until 2078, similar to what you mention for Marbella Beach Resort.
I asked Owner Services about these differences, as all resorts are in Spain so it can't just be a Country issue which was their initial response.
All they could then offer by way of explanation was
"That is true but they will not build at the same time and laws can change"

 

[Englishsteve2017]

I have only just read your follow up question.
I can't really answer this, I have dug out my documentation now though.
Playa Andaluza RTU runs until 2052.
Club Son Antem RTU runs until 2078, similar to what you mention for Marbella Beach Resort.
I asked Owner Services about these differences, as all resorts are in Spain so it can't just be a Country issue which was their initial response.
All they could then offer by way of explanation was
"That is true but they will not build at the same time and laws can change"

Thank you, really appreciate your help and advice. Sounds strange but maybe laws do change which would explain the difference. Thanks again