Simple question: Deeded vs RTU ?

[hvsmith2]

Drawing on the no doubt encyclopaedic knowledge of the members here ..

Deeded vs Right to Use ? What is the difference ?

I am 99% sure that my ownership at Marriott's Playa Andaluza is "deeded" but I have seen adverts for the same property (eg on Redweek) which state "RTU".

Is it possible that the same property has owners of different types ? Or are people just confused about what they own (this would be highly plausible !) ?

I also noticed that on the ads, people give very different end dates for the ownership. As far as I know, that property runs 50 years from the date it was registered with the Spanish authorities (2052 afaik) - and that should be the same for everyone shouldn't it ?

Thanks in advance.

 

[NKN]

I can't answer about your specific resort.

The major difference is in how long you own it.
Deeds are usually forever.
RTU is until a certain date.

Deeds give you more ownership clout, in case of bankruptcy, but RTU gives you a way out at the end, without having to sell a timeshare.

I've owned five different timeshares over the years, and one of my current ones is a RTU, until 2014. That particular resort, Allen House, is all RTU, but it is possible that they have different ending dates for different units and/or exchange company affiliations. Mine was through RCI.

With all the issues around selling timeshares, I'd almost rather own a RTU. But then you have to weigh the purchase price vs the years of use.

 

[Jeffrey]

RTU

Playa Andaluza is definitely RTU and I am pretty sure you are correct with 2052 being the end date.

Before we were "educated" on timeshares, we almost bought into that resort back in 2007... Silver season for 16,000 Euros and no value... You can pick up getaway weeks at II for 200-300 Euros during silver season with no up front "investment" and no annual maintenance fees.

 

[TheTimeTraveler]

Marriott's Custom House is also an RTU with 2057 being the end date.


.

 

[hvsmith2]

Playa Andaluza is definitely RTU and I am pretty sure you are correct with 2052 being the end date.

Marriott wrote to me today with the following

Dear XXX

Your request for a replacement for deeded week PY*xxxx*xx*B, usage year has been fulfilled with a Full Unit through Interval International. You should be able to view this credit on your Interval International account at this time. Please note that certain restrictions and/or fees may apply to this replacement week.



So I am confused !

 

[SueDonJ]

Marriott wrote to me today with the following

Dear XXX

Your request for a replacement for deeded week PY*xxxx*xx*B, usage year has been fulfilled with a Full Unit through Interval International. You should be able to view this credit on your Interval International account at this time. Please note that certain restrictions and/or fees may apply to this replacement week.



So I am confused !

I think the better comparison is RTU v. perpetual because many RTU Weeks are deeded. RTU deeds/governing docs have an ownership end date; perpetuals do not. I think, but am not absolutely certain, that RTU deeded ownerships can be passed to heirs just as perpetuals can.

 

[MALC9990]

Drawing on the no doubt encyclopaedic knowledge of the members here ..

Deeded vs Right to Use ? What is the difference ?

I am 99% sure that my ownership at Marriott's Playa Andaluza is "deeded" but I have seen adverts for the same property (eg on Redweek) which state "RTU".

Is it possible that the same property has owners of different types ? Or are people just confused about what they own (this would be highly plausible !) ?

I also noticed that on the ads, people give very different end dates for the ownership. As far as I know, that property runs 50 years from the date it was registered with the Spanish authorities (2052 afaik) - and that should be the same for everyone shouldn't it ?

Thanks in advance.

As you have already seen in the posts here - Playa Andaluz is RTU - in fact all 4 European resorts are RTU. Something else you might not yet know is that if you fail to pay your MFs at these RTU resorts in Europe then the following will happen in due course.

After the first failure you will get letters warning you to pay and imposing late payment fees. If you ignore these for the year and then do not pay the MFs for the next (second year) - the resort management (Marriott) will send more letters etc but then if nothing happens - i.e. you do not pay the outstanding MFs and late payment charges the week ownership is revoked. Your Right To Use is revoked and the week is returned to Marriott to sell again.

Now if you perceive that you week has zero value or would not sell for what you own in outstanding fees - then if you ignore all these letters you will just lose the week back to Marriott. To me this is one - I hesitate to say advantage - perhaps feature is best - one feature of an RTU week over a deeded week where you own the deed and own it until you transfer it to someone or something.

There will be no successful court action in the UK since the legal entity to which you would owe the MFs is not a UK registered legal entity and if they want to pursue the matter in court they must do so in Spain - in the case of Playa Andaluz.

 

[MALC9990]

I think the better comparison is RTU v. perpetual because many RTU Weeks are deeded. RTU deeds/governing docs have an ownership end date; perpetuals do not. I think, but am not absolutely certain, that RTU deeded ownerships can be passed to heirs just as perpetuals can.

Indeed an RTU week is deeded in that you have a deed or document that defines what your usage rights are and what you can do with those usage rights. However it is not ownership of property as such and the property remains in the ownership of an MVCI legal entity.

 

[MALC9990]

Marriott wrote to me today with the following

Dear XXX

Your request for a replacement for deeded week PY*xxxx*xx*B, usage year has been fulfilled with a Full Unit through Interval International. You should be able to view this credit on your Interval International account at this time. Please note that certain restrictions and/or fees may apply to this replacement week.



So I am confused !

Having had one of these letters when in the same situation - but through different circumstances related to Marriott delaying the transfer of a resale week to my name until it was too late to use the week in the year that I had paid for the usage.

The have deposited a week in your II account. Check the My Units listing and see what was deposited. Depending on what was deposited there may be some restrictions or fees imposed by II when you want to use that week.

So take a look at the week in your II account and see what it is described as.