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Rebooking With New Resale Points

WaikikiFirst said:
Great price. Great great price, assuming it goes through. I'm just window-shopping here but my 1st reaction is that that is worth 5x that #.
I can't believe that would pass ROFR, but it is a screwy industry, so ... :shrug:
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I 100% agree. If it doesn’t then I guess it was not meant to be. The sellers actually signed their approval yesterday and now GVT will request the estoppel. This can take a 2-3 weeks.

I was told that they don’t do ROFR or don’t exercise it there. I looked on ROFR.net and the 3 that are there were approved, so that is a positive sign.
 
Zenichiro said:
Yes I guess I cannot seem to add a zero lately.
  • First year of occupancy: 2023
  • Termination date: January 1, 3017
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ok it’s not a typo! You will be able to pass it to your grandest children.
 
iftravel said:
ok it’s not a typo! You will be able to pass it to your grandest children.
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I think these right-to-use contracts are structured or required to include an end date, and setting it hundreds of years in the future is a way to make it feel effectively forever without actually being perpetual.
 
Zenichiro said:
I think these right-to-use contracts are structured or required to include an end date, and setting it hundreds of years in the future is a way to make it feel effectively forever without actually being perpetual.
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They are actually better than perpetual deeds. If you no longer want it, guess you just stop paying and your “right to use” terminates without the lengthy foreclosure.
 
iftravel said:
They are actually better than perpetual deeds. If you no longer want it, guess you just stop paying and your “right to use” terminates without the lengthy foreclosure.
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That’s interesting. Never thought of it that way.
 
GT75 said:
What is the basis of your statement? Like, do you have some data to back it up.
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A big Nope, thus I used the negative of "believe" rather than "think" or made a solid positive declaration. Big companies do the strangest stuff, so I damn sure wouldn't bet on it either. How much paperwork & cost would it take for them to ROFR that? Then flip it for $15K?
 
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