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Re: Manhattan Club Lawsuit

Looking through the 522 page book we got when we bought: Page 70-71 says that TMC has the right to a lien against an owner not paying, maximum interest allowed by law if paid more than 15 days after the Timeshare Charges are due and the right to sue for recovery of money. This is repeated in a little more detail on pages 362 and 363. It also says that "NO owner may withhold payment....because of a dispute between...(them and TMC)..." I think we need to push the AG on this being a scam, including them misrepresenting use of the units (renting to non-members) and misusing funds (soaring fees that are 400% higher than the CPI inflation rate, that they are certainly using to feather their own nests AND pay their lawyers to defend them. I have written the AG a letter, a copy going to TMC, that hits on these two points: Non-member rental at less than owners are paying and fee increases far beyond inflation rate. [Q=thomasm832] Are there any thoughts of there at some point being a penalty for breach of contract for not paying the fees? I need to read my parents' contract when I am home for the holidays. And would the penalty be more than a year or two of maintenance fees, (which if not would still justify not paying the fees)? Or perhaps if that were normally a possibility (penalty), maybe there would be leniency due to the NYAG investigation (and MC being in arrears on their taxes)? The only other risk of not paying the fees seems to be not being included in an eventual settlement (if any), and who knows if that would also be more than a year or two of fees per owner, if that, which if not would again justify the risk of not paying. It's difficult trying to gauge the risk of not paying the fees. Would be nice if something came of the NYAG investigation sooner rather than later.[/Q]