Ultimate Occupancy Provision at Surfwatch

[Hobee]

I am interested in a SurfWatch resale. I have read on TUG something called Ultimate Occupancy that was used at SurfWatch. What is it and what do I need know as it applies to a Surfwatch resale?

 

[SueDonJ]

During the construction phases some Weeks were sold with Ultimate Occupancy provisions that allowed for example, a Gardenside Week Owner to stay in an Oceanside unit during the interim while the GS buildings were yet to be completed. (Not sure of the exact order of buildings off the top of my head but that's the gist.)

Ultimate Occupancy doesn't affect every Week at the resort. Those that are affected are designated with two unit types in an Owner's account, for example "Gardenside/Oceanside." That two-view designation also appears on any reservation confirmations. As well, the original purchase papers included an Addendum that clearly spelled out the provision as it applied to the specific Week being purchased.

This TUG thread has more info related to Ultimate Occupancy.

For resale purposes, be aware that the Unit Number specified in the deed may not reflect the actual building/view type being purchased. It's necessary to verify the specifics by contacting Owner Services - the resort itself will not be able to help because many of the onsite employees are not aware that UO even exists.

As far as I know, SurfWatch on Hilton Head and OceanWatch in Myrtle Beach are the only two resorts in the Marriott system which sold Weeks with UO provisions. At both resorts the interim placements ended quite some time ago with both resorts now being completely built out.

{ETA} It's nice to see your first post, Hobee. Welcome to TUG.

 

[tlwmkw]

Sue has it correct- just to clarify though- the reason they did it this way was because they built in stages. First they built ocean vista (closest to ocean) then then ocean view buildings (at high tides pool) and finally garden view. The laws require that you have actual real estate to sell so when there was only ocean vista and someone bought garden view their deed used a unit in the ocean vista building but with ultimate occupancy in garden view. Conversely if you bought later in the process and wanted ocean vista or ocean view then all the deeds for ocean vista and ocean view were sold ( with whatever ultimate occupancy) and only the garden view buildings remained then your deed was for garden view with ultimate occupancy in ocean vista or ocean view. Hope this makes sense- it is because you can't buy real estate that doesn't exist yet- it's to protect the buyer from developers who sell the idea and then abscond with all the money from the potential owners. It's also why the Pre-construction sales at Surfwatch were contracted but couldn't close until the construction was finished.

tlwmkw

 

[Hobee]

Thank you for the information. I read the referenced thread and it seems a combination of the "lack of a deed addendum" addressing UO, confirmation from the Marriott Estoppel, and a owner check will give me the cofidence I need that I am buying the view being advertised. Please advise if I am misunderstanding.