Started by TedC, April 14, 2016, 11:35:51
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Quote from: TedC on July 22, 2016, 21:54:32All other Wimpen resorts are wholly Escritura owned, ie the owner actually possesses the deed of the property for the week/s purchased and only have a representative at meetings. Los Claveles is the only resort I know of where it is dual type ie Escritura and Club. Club members make up 85% of the total ownership but do not possess a deed to the property, only a certificate of membership to the Club that allows them to occupy the apartment for the week/s purchased. The actual deeds for Club weeks are held in Trust by FNTC who, incidentally, refuse to transfer the Trusteeship to Hutchinson as was voted for at the 2012 AGM and the letter of termination duly sent to FNTC.If a Club member fails to pay the maintenance fees, their Club membership can be easily cancelled and entitlement to use the property forsaken, whereas if an Escritura owner fails to pay the fees, they do not lose the property but are barred from using the weeks purchased until all fees due are paid.Wimpen have said in the past that all Club weeks cancelled or handed back belong to the Club but it now appears evident that Wimpen have been taking weeks back. They already possess a number of Club and Escritura weeks and as apathy has reigned at AGM's in the past and only 17% of owners/members voted it would be easy for them to enable resolutions to go in their favour. As the Club committee is elected for 4 year terms of office it is difficult for them to do anything to gain control for their own benefit, all they have done is highlight the potential for Wimpen/Onagrup to gradually take control by encouraging a scenario where owners/members walk away which, as is evident on this forum, is happening at other resorts.
Quote from: TedC on August 30, 2016, 20:08:44Gail2005.In the past, Wimpen have said they cannot accept Escritura weeks back because of the time and cost of transferring the deed. According to a 2010 article on their website blog, http://www.wimpen.info/timeshare-property-holding-company/ Wimpen have formed Holding Companies in which owners can transfer their Escritura and then enter into a new private contract. Once this is done, an owner still has all the rights of ownership but can walk away at any time. This isn't cheap, costing in the region of £1000 and if one of the joint owners is deceased, it rises to £1500.I know that Las Casitas and Las Rosas have Holding companies but I am unsure about El Marques.
Quote from: Gail2005 on August 31, 2016, 12:22:49That's good news. Do you by any chance have an email address?