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.
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.
Is it technically possible and legally executable to buy a unit (a room or a free standing living structure) in a hotel?
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.
There is no contradiction here. For example, most hotels in Playa Dorada, Puerto Plata, were set up as condominiums and sold to individual investors who bought their units precisely because they wanted to receive income from the rentals of their units as hotel rooms. In cases like these, hotel management and the unit owners enter into a long-term contract which allows the owners to use their units for several weeks a year.
If you are the owner of the unit in the Aparthotel, you certainly can sell it.
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.
To sell you must have a Certificate of Title.
The lawyer mispoke and your believing him. Hundreds and hundreds of condos sell without titles all the time. He is wrong. I know what he means but what he said was wrong. Anyone who has been around here for a long time know better than that.
I have many friends who bought condos witout titles.
To sell you must have a Certificate of Title.