Manhattan Club Lawsuit

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Original Message:

Re: Manhattan Club Lawsuit (by Fibo N.):

MC greed is unlimited. On the top of the Flex/Split Tri-ennials & Quad-ennials and renting out, MC sold Deeds for undivided interests in various fractals with numerous types of Timeshare Periods, such as:

- 0.60% - 0.59% - 0,63% - 0,92% -0,98% - 0.103% -0.118% , etc.

Time periods for such interests were also subdivided into smaller fractals like 22W, 48W, 6M, 8M, 16M, etc. Include your imagination how much time a piece of MC's air might be re-looped and sold to bring profit!

These Deeds were sold to individual owners via Vacation Trust (Bluegreen) in 'packets'; about 3200 such packets were sold in the years 2011 thru 2014 . How that's possible to satisfy all the owners? That's going to be a problem forever. It could be resolved only if and when a number of owners (a great one!) will be discontinued.

I provide just two samples of 'packet' sales (out ~3200), public data could be found in ACRIS under CRFN 2012000159988 and CRFN 2013000394906.

gerards23 wrote:
The worst forms of TMC "ownership" are the "Flex/Split Time" contracts ( Bi-ennial,Tri-ennial & Quad-ennial). I believe that these are a major cause of the frustration and dissatisfaction that you read about in these posts. In 2008 I was talked into purchasing a "Tri-ennial" after I balked at buying a normal defined week 7 day a year contract. These "Flex/Split Time" contracts were pushed by the TMC sales team and were severely oversold and came with restrictions as to what time of year you could book time. Don't expect most major holidays and the month of December. In an effort to rid myself of this burden in 2014 under the direction of a lawyer I stopped paying the remainder of the "mortgage",maintenance fees & "mass tax"billings. In 2014 also the NYS AG began an INVESTIGATION of the TMC (NOT A LAWSUIT) .For the past 3 years to date nothing can be done ( sales,foreclosures,etc) with TMC until the completion of the investigation. I still receive a monthly statement from TMC which I promptly forward to the lawyer. The statement is mailed from a TMC office in Scottsdale,Az. and the TMC financial services office are located in E. Stroudsburg,Pa. most likely to evade some NYS regulations. FYI: There is a clever statement printed on 2 of the "mortgage" documents that says "THIS CONTRACT IS IRREVOCABLE". I've heard that this statement is called a "PERPETUITY CLAUSE". Does anyone know why this was necessary to include on the paperwork?? Other than to trap you into this forever. Even worse: Was this legal ??