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Summer Bay Desert Club?

EileenSRN said:
Gee, thanks, RT! Guess we should have grabbed that one. Hubby and I have been talking all winter about whether to buy another week - out west this time. We've been watching tons of Summer Bay, Polo Towers, Peace Canyon, LV and Vista Mirage, Desert Breezes in PS. Finally decided to go for it! And they all dried up! I was going to start a thread "When are you too old to buy more weeks?". Maybe this is telling me something. We retire in 18 months. What do you guys think of the Consolidated group (Thaiti, Tahiti Village and Club De Soliel)?
Eileen
Click to expand...

Wait a little while and they'll be back. I've watched Vegas and Branson weeks off and on over the past few years. One month they'll be tons of weeks up for sale and then all of the sudden there are very few. What causes them to cycle like this I couldn't say but it's a lot like fishing. Some day's their biting and some days they're not.

As for Consolidated, they have nice enough resorts but Consolidated doesn't have any sort of internal trade provisions between the resorts they build. If Summer Bay allows internal exchanges between the resorts they manage that would be a benefit of owning with them over Consolidated.
 
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If you own an old deed, this is based on the old location.

After the decision that the old location is brought down, you have no right to use it anymore. That is like a very old resort just being given up as it would be too expensive to renovate. The deed is then just worthless because there is no resort anymore.

Why should there be any legal obligation of anybody to exchange your old deed to a new resort only because there was an offer to do so last year?

There just is no such legal obligation!



timeos2 said:
The resort/developer has no right to simply "kill" a deed. If the owner had a deed at the old property and the minimum number of owners approved the deal to make a switch of resorts - which apparently happened - that "old" deed has a counterpart at the new resort even if it wasn't transferred but assuming the owner kept the fees up to date. The only way the deeded property could be returned to the resort is through foreclosure - not because the physical property was transferred from one site to another.

I do wonder what happened to those few that felt the deal was not good and refused to take part. I wonder if now they plan to deed back their ownership (assuming SB allows that) or if they "will live" with the deeded ownership being based at a new resort. They lost the battle but they still hold a valid deed unless they made a move to give it up or sell it.
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There must be a cut-off date for transferring the deeds to the new resort. Maybe someone with connections at the resort can ask about this date.
 
The owner that didn't agree to the move still have rights

anapur said:
If you own an old deed, this is based on the old location.

After the decision that the old location is brought down, you have no right to use it anymore. That is like a very old resort just being given up as it would be too expensive to renovate. The deed is then just worthless because there is no resort anymore.

Why should there be any legal obligation of anybody to exchange your old deed to a new resort only because there was an offer to do so last year?

There just is no such legal obligation!
Click to expand...

Because you or the Association or the Developer can't simply take property rights owned and paid for by an individual. I could see that the owner of the deed may not be able to use the new property until they accept a new deed BUT the ownership doesn't disappear simply because the property moved (again, assuming all fees have been kept up to date). If the Association wants some lawsuits try simply extinguishing the ownership rights like that.

By the way, who do you think would get those rights under the "they simply go away" plan? The developer can't - there is an outstanding deed for it. The Association can't - the deed would have a cloud on it. It can be a mess to sort out but thats what a nearly unprecedented move of a resort like this can result in. But at some point the owners of un-transferred deeds/use rights will have to quit claim the property back to the Association or accept the new deed at the new property or sell their rights to a third party but, IMO, it can't just "go away" if they have paid their fees and for the original deed. If they are delinquent then the Association can go through foreclosure as they would have before. But they can't just take it away.
 
anapur said:
The "developer" has what he needed:

Get approval by a super-majority of the owners for the move, so that the "developer" can get the surplus units and make a lot of money on these.

Why should they give a non-cooperating owner - who has just ignored what they sent him regarding the deed exchange for months - now still the good deal of a new deed at the new resort?

They are just not dependent anymore on these few people who have not already transfered!

This investment opportunity / gamble has unfortunately passed.

I would never touch an old Summer Bay deed at this time.
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Wow, for someone who posted "Hi, I'm, a Newbie" just 3 weeks ago, you have pretty strong feelings about the Summer Bay deal??? some history here maybe? RT
 
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No history, never owned there, but thought of buying recently.

After reading hundreds of posts I made up my opinion which I wanted to share here so that noone wastes money on that.

If you do not want to hear it, I will shut up.
 
anapur said:
No history, never owned there, but thought of buying recently.

After reading hundreds of posts I made up my opinion which I wanted to share here so that noone wastes money on that.

If you do not want to hear it, I will shut up.
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All opinions are certianly welcome here on TUG, as are opinions of opinions! RT
 
OK, I´ll be the test sample. I currently have a 1BR (didn´t make the lottery cutoff) in escrow with one of the larger PCCs. I´m comfortable that I will be refunded if the deal doesn´t go through, as I´ve purchased many weeks from this seller.

I was told by the resort that I can transfer the deed to the new resort upon completion and resort notification of the sale. As long as the fees are current, I don´t see why this would be a problem. I´ll post the results. I must say that I, too am surprised by the negative tone on this thread. A move such as this is unprecidented and does take time . . . simmer down please.

Jana
 
deed invalid

Here is my update on transferring an "old " deed':

I bought one in April and it was recorded late May.

Today I received from the closing company:

"Good Afternoon, this e-mail is in regards to your Summer Bay Las Vegas property purchase. Recently we have received information from the resort that they are in the transition of changing their names and parcel numbers. The resort will now be known as Desert Club. We have been instructed to refrain from continuing the transfer of ownership."

I talked to IMI and they informed me that the recorded deed was invalid as it was recorded after the Summer Bay Resort went through the final property closing on April 29, 2008.

Quite confused right now :shrug:
 
I wouldn't panic yet. The seller will have to send the deed to Summer Bay and have them issure a new one in the new resort name. Then it can be transferred into yours. Trouble there is...did the seller leave it in the old owners name and not transfer the title to the company? If so, the seller has to go back to the old owner and have them get the deed exchanged. Runs the risk of them changing their mind. Bottom line, who ever's name is on the deed in hand must exchange it for a new one before ownership can change. And I was kicking myself for not buying one a few month's back when there was a bunch on ebay. Ended up with Vacation Village in FLL and Orlando.
Good Luck,
Eileen
 
Thanks for the info.

Seller is a postcard company, so the old owner is still on the deed
 
Now you guys are making me wonder if my transfer will happen without going through this. The deed is in the sellers name but has not been transfered to Desert Club.

Should I notify the seller that this is likely to happen in our situation? We are about 1 month into the closing process.
 
I would call and ask the seller if the deed had been updated to the new name. If not, they will need to do it. Apparently the resort will no longer recognize a deed in the old Summer Bay name.
Good Luck,
Eileen
 
EileenSRN said:
I wouldn't panic yet. The seller will have to send the deed to Summer Bay and have them issure a new one in the new resort name. Then it can be transferred into yours. Trouble there is...did the seller leave it in the old owners name and not transfer the title to the company? If so, the seller has to go back to the old owner and have them get the deed exchanged. Runs the risk of them changing their mind. Bottom line, who ever's name is on the deed in hand must exchange it for a new one before ownership can change. And I was kicking myself for not buying one a few month's back when there was a bunch on ebay. Ended up with Vacation Village in FLL and Orlando.
Good Luck,
Eileen
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Exactly! Recent buyers need not worry. The resort recognizes that some deed transfers are in limbo and will work with all parties. Mine went through without a hitch.
 
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