Title company for Cancun Royal property

Does anyone have a good recommendation for a title company for Mexico properties? Web address?

Thanks!

Carolyn

carolynm64 wrote:

Does anyone have a good recommendation for a title company for Mexico properties?

I assume that you mean "closing company". Since deeds and /or title are concepts that do not apply to Right to Use (RTU) contracts in Mexico, you don't get a deed OR title or title insurance. Instead, you merely acquire a contractual right to use for a specifically defined time period, commonly 20 years (sometimes 30).

Oftentimes "the house" will handle contract transfer paperwork itself for a fee. Sometimes "the house" REQUIRES that they handle such contract transfers. Have you asked them?

Who is the house? We are buying from an individual. How can you check to make sure the indiv has paid all maintenance fees?

Carolyn

carolynm64 wrote:

Who is the house? We are buying from an individual. How can you check to make sure the indiv has paid all maintenance fees?

"The house" = the resort itself. Sorry if that was not obvious...

In order for you to PERSONALLY check for account status, the seller will have to provide you with their (seller) name and account info. With that information in hand, you can then call the resort directly for confirmation of "paid up" status. Don't bother calling WITHOUT having the owner / account info however. A responsible resort will CONFIRM info which you already have, but in the interests of privacy protection, they won't actually PROVIDE any info (only CONFIRM it).

P.S. Regardless of whether you are buying from an individual, many RTU facilities (in both the USA and in Mexico) insist upon handling all contract transfer paperwork themselves.

To repeat my prior question, have you asked the resort?

carolynm64 wrote:

Who is the house? We are buying from an individual. How can you check to make sure the indiv has paid all maintenance fees? Carolyn

You need to call the resort directly in doing your 'due diligence' regarding maintenance fees. One reputable timeshare closing company is www.timesharetransfer.com ... don't know if they close Mexican timeshares .... you can check their webpage.

jayjay wrote:

One reputable timeshare closing company is www.timesharetransfer.com ... don't know if they close Mexican timeshares .... you can check their webpage.

Timeshare Transfer, Inc. is indeed a reputable and competent closing company, but they may not handle transactions / closings for timeshares outside of the continental United States --- not sure.

In addition to not handling either Alaska or Hawaii, for example, there are a fair number of states WITHIN the continental USA for which TT will not handle closings either. All states which TT handles are individually listed right on the TT web site. You'll likley have to inquire of TT directly regarding non-USA locations.

I third Timeshare Transfer (www.timesharetransfer.com), never had a problem with them and used them over 40 times and those where all Mexican Properties!

The "house" is going to handle the transaction. Another sold for redweek! My sister is actually going to buy it. I decided to wait since I already have 2 weeks in CA. Thanks for your help!

Also, so what happens after RTU ends? Do they always sell the property or do they offer it to the owners first? I think that's what happen at the Royal Cancun International. Also, a Rep at the timeshare presentation said you would get your money back at the end the RTU period. What you paid and on top of that what its currently worth. Is that really true? What if its worth less? Would you still get the money you paid for It? I asked why would members sell on their own if that was true. He said because they want more money than what they paid for it.

One more question - Royal sells a fixed week. Is it pretty easy to get a different week if you can't use your week? I think there is a $149 cost. If it is easy, wouldn't it be better to buy a t/s at a lower cost that's in the same season? It seemed like there was a lot of availability last week. So if a week in March is priced lower but you want to use a Feb week - would you be better to buy the March week and trade it for Feb?

Thanks for your help! Carolyn

carolynm64 wrote:

Also, so what happens after RTU ends? Do they always sell the property or do they offer it to the owners first?

You have a whole lot of questions listed, many of which pertain to a specific, individual property with which I am not personally familiar. However, I'll answer ONE "generic" question with a universal answer:

In RTU (right to use), unlike in an actual deeded ownership, you own NOTHING except a right to access (use) the facility. When the contract term expires, the ACTUAL property owners can do whatever they choose to do with the property, including selling it outright. In that potential (maybe even likely) scenario, former RTU "lessees" have no claim or rights to any of the sale proceeds, since they never actually OWNED ANY part of the property to begin with. Right to USE means precisely that --USE-- it does NOT mean (or in any way imply) ANY actual "ownership" rights of any kind, or any rights to any post-RTU contract property sale proceeds.

So you won't get any money back at the end of the RTU period - correct?

carolynm64 wrote:

So you won't get any money back at the end of the RTU period - correct?

That's NOT actually what I described or stated above but yes, it's nonetheless very likely the case....

I have heard anecdotal claims of people believing that some particular Mexican facilities make promises of returning contract purchase price upon expiration of RTU period (...*IF* it's still the original developer-direct purchaser at that time). However, that's a big *IF*, as I have serious doubts about how many people hold on to a Mexican RTU for the entire 20-30 year contract duration. I have even further doubts about a Mexican entity ever willingly paying OUT money in any event.

In short, I have never heard any claims, anecdotal or otherwise, of anyone ever actually seeing any money willingly returned to them. Maybe it happens (... and maybe there is an Easter Bunny, too).

If your talking about Royal Resorts ie; carribean, mayan , sands, or the islander. It varies, the carribean is only money back or reduced purchase price to owners if royals resorts redevelop it as they did with vacation club international. the sands and islander are the same but should royal resorts sell the property the owners get a percentage with orginal purchase price at minium. I think the mayan is just a discounted purchase price should royal resorts redevelop it, hence there are no resales there as their rtu is almost up.