DebNLena
(Traveler)
10/05/14 09:23 PM
72.66.3.194
Re: Does Anyone have the full text of the email?

I have no idea whether there is any record of or registry of deeds. I do remember quite clearly having a long conversation with Ray when we were buying about this unit being deeded. I was very surprised because my parents have owned t/s in 2 countries(Mexico & SXM) and florida but each t/s is for a specific term. Their Royal Islander La Plage timeshare is for 55 years. The T/S in Cancun was only for 30 years and they are currently waiting for a buyout offer from the resort as they are also converting the units into hotel space. The first t/s in Mexico for this group of resorts paid the owners 60% of their original investment. My parents were there this past February and went to a meeting & were told that they would get at least 60% but could get up to 75%.

I believe Ray explained that the deed was for 99 years because Caravanserai did not own the land, only the building and the lease on the land to the building owners renews every 99 years. We didn't put much thought into it because we knew we would be long gone, however, we did like the fact that we could transfer ownership to our children and that it wasn't structured like RI LaPlage. We would have bought either way but it certainly made the decision easier. My parents are in their late 70's and still have about 25 years left on their t/s agreement at Royal Islander, so if this whole thing goes bust, I am very lucky to still have a place for 2 weeks a year to go to, however we are obviously very disappointed in how this whole thing has been handled from the very beginning.



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