Sunset World Resorts - Club Sunset Royal

[CTS_Sunset]

Hello, I am new to the forum and have been reading on what to do in regards to timeshares.

I have a "studio flex" timeshare that has been paid for (bought in 2018) and the maintenance fees are:
$199 USD yearly membership
$1000 USD (approx) Maintenance Fee paid every other year (even years)
$400 USD (approx) Maintenance Fee every 5 years

I unfortunately lost my job and am going through financial difficulties. I have reached out to Sunset in regards to terminating my membership but I was told it is a lifetime membership. At the time, they made it seem like it was a way to protect the investment. I know better now unfortunately.
They offered to switch the payment schedule from every 2 years to only if I end up using the unit if I pay my current overdue MF + a $2,038 USD fee. The 5 year maintenance fee is not included in the proposal. My concern is that since the 5year MF is still intact, I worry that they will significantly increase that for compensation.

I have reached out to a lawyer that handles Canadian and Mexican law to see what my options are.

After reading several posts though, it looks like the main options are to transfer contract/sell the timeshare or don't pay any maintenance fee. I understand that if I don't pay MF that it may go to a debt collector and that my credit score will take a hit. I think I will be ok with this as long as it means termination of the contract and my beneficiaries (my parents) will not suffer. My parents may also be interested in taking it over but I don't want them to only do it because they are worried about me and when they pass the contract comes back to me.

I guess I'm posting this to see if anyone has any recommendations with my situation. Any kind words would also be helpful as this situation and my finances have taken a toll with my mental health.

 

[WorldT]

To the best of my knowledge, Sunset Resort contracts are Right To Use(RTU). Is that what you have? If yes, you don't own anything. You stop paying the MF and it reverts back to the resort. This was specifically the selling point one sales agent at another resort in Cabo used during their presentation last year.

 

[CTS_Sunset]

I think so. There isn't a specific week connected to my contract as I had been able to use it anytime. I've used it there twice and have also exchanged through RCI. Unfortunately I cannot find my contract and they won't send a copy of it until I pay the MF.

Does this mean it is best to just stop paying instead of trying to get a lawyer to handle the termination?

 

[WorldT]

I think so. There isn't a specific week connected to my contract as I had been able to use it anytime. I've used it there twice and have also exchanged through RCI. Unfortunately I cannot find my contract and they won't send a copy of it until I pay the MF.

Does this mean it is best to just stop paying instead of trying to get a lawyer to handle the termination?

Why pay a lawyer to do something you can do by yourself?