Buying a unit in a hotel?

AK74 · #1 08-31-2008, 11:09 AM

Is it technically possible and legally executable to buy a unit (a room or a free standing living structure) in a hotel?

J D Sauser · #2 08-31-2008, 11:27 AM

Quote:

Originally Posted by AK74

Is it technically possible and legally executable to buy a unit (a room or a free standing living structure) in a hotel?

I don't know if that answers your question, AK. But some Hotels have sold units... HotelTour [sp?] comes to mind.
Yet, I doubt they have "deslindado" horizontally... so there will most likely be no titles but a good bunch of contracts. As some of these hotels still operate and many or them under the AI concept, it further complicates things. Mainly the sale is attached to a lease to the hotel... the buyer essentially becomes a investor and may find access to his unit very limited.
Many times the Hotel group leases the right to operate out to yet another party. More like than any condo situation the buyer becomes subject to see his property rights ruled by too many parties which decide on maintenace costs and marketing decisions as to how to "lease" units and split income in between the food and fun operation and raw rental income and their profits.
I have looked into one situation like that in Playa Dorada and when I was given by both, the "owner" and those who ran the hotel at that time (yes, they have an operator lease on the whole thing, just to top the complicated issues up a level) information which was less than concise... I walked away and haven't looked back.

... J-D.

AK74 · #3 08-31-2008, 11:34 AM

Quote:

Originally Posted by J D Sauser

I don't know if that answers your question, AK. But some Hotels have sold units... HotelTour [sp?] comes to mind.
Yet, I doubt they have "deslindado" horizontally... so there will most likely be no titles but a good bunch of contracts. As some of these hotels still operate and many or them under the AI concept, it further complicates things. Mainly the sale is attached to a lease to the hotel... the buyer essentially becomes a investor and may find access to his unit very limited.
Many times the Hotel group leases the right to operate out to yet another party. More like than any condo situation the buyer becomes subject to see his property rights ruled by too many parties which decide on maintenace costs and marketing decisions as to how to "lease" units and split income in between the food and fun operation and raw rental income and their profits.
I have looked into one situation like that in Playa Dorada and when I was given by both, the "owner" and those who ran the hotel at that time (yes, they have an operator lease on the whole thing, just to top the complicated issues up a level) information which was less than concise... I walked away and haven't looked back.

... J-D.

A very authoritative clarification, thank you.
For whatever reason I was not allowed to post a rep point! Robert?

SKY · #4 08-31-2008, 11:34 AM

Be very careful doing this. Many Apart Hotels sell units without the proper Titles. You could lose your money if it is sold or in other ways. Make sure you have a good Real Estate Lawyer if you choose to do this.

Robert · #5 08-31-2008, 12:36 PM

Quote:

Originally Posted by AK74

For whatever reason I was not allowed to post a rep point! Robert?

No, idea, it's working fine. I just looked at the stats.

AK74 · #6 08-31-2008, 12:44 PM

Quote:

Originally Posted by Robert

No, idea, it's working fine. I just looked at the stats.

It says something like "you need to give a positive to somebody else, and only then back to him!"

AnonTraveler · #7 08-31-2008, 01:28 PM

Quote:

Originally Posted by AK74

Is it technically possible and legally executable to buy a unit (a room or a free standing living structure) in a hotel?

Yes, you can. Make sure the documentation is correct and there are very clear bylaws. There are condo laws and aparthotel laws in the Dominican Republic which need to be followed. There are many condo/hotels in the country.

MikeFisher · #8 08-31-2008, 02:18 PM

and in case of the 'property'/condo/appartment/room to purchase i would not do so without the separated 'title' in my own name for my purchased property.
the rest are separate contracts, like regulations about included(with the purchase lifetime given rights) electricity, maintenance, right to use pools or other facilities, gardening srevices aso.
i know that many/if not most such purchasings are done just with many contracts but without a separate Title for the purchased property, many work just fine, but whta happens in case of ownership change(maybe the actual owner dies and the family has an different idea of "what been a little contract/handshake" by the former owner)?, the new owner may see such things very different than the former one seriously handled such.
for myself own property means own Title with my own name on it as the Owner.
Mike

MikeFisher · #9 08-31-2008, 02:23 PM

AK,
i've been told that you have to give 20 reputation points to other members before you can give again a reputation point to the same person.
i don't like such rule neither, it makes just sence to prevent that one 'friend' makes on each post a bunch of rep-points for his buddy independent if the contribution to the bord been valuable or not.
but what happens if i read 3 posts on different threads or even on the same thread by the same person and want to say 'thank you' by giving exactly those points to the poster? it is not allowed/possible.
to start a rating system been in my eyes a good idea, but i miss the working idea behind it, the way it is now i don't like it because it does not show nothing.
should be stopped an thought about a different way of 'repute' members and brought back then.
Mike

Fabio J. Guzman · #10 09-03-2008, 01:30 PM

Yes, it can be done BUT ONLY if the hotel becomes a condominium. Any other possible mechanism will leave the buyer unprotected from fraud or bankruptcy, etc.