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Manhattan Club Lawsuit (by Gail J.):

William - apparently, unlike you and myself, there are some who do not understand that what one paid to purchase a timeshare is just that - a purchased of a week. in a building that was to be owned by the Association of timeshare owners. So the maintenance fees that are paid have zero to do with the purchase price except as to the yearly amount one is assessed. That is because all owners do not pay the same yearly maintenance fees. Penthouse owners pay the most. Also, included in the purchase price was not a figure for assessments for years to come. The yearly fees were intended to pay for the operational expenses of the Manhattan Club such as insurance, property taxes, maid service, utilities, repairs,etc. So, Eicher, the developer got the purchase price the timeshare owner initially paid - after that, we, as owners were to be assessed yearly for the operational expenses. Eichner defrauded us and our recourse should be directed towards him - not the Manhattan Club itself. My understanding was that we, as timeshare owners, ,own the Manhattan Club- the property/building belongs to us - not to Eichner. . Is that not the understanding of our group? We all should have received deeded timeshares. Please explain if my understanding is incorrect.