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Re: Manhattan Club Lawsuit (by Dks):

(I inherited 2 timeshares). I copied the statement below and gave it to my lawyer. He said he could do a codicil to our will giving the timeshare back to the State of NY, but that these timeshares in general are a real hassle. On the post earlier, someone mentioned the deed in perpetuity and it seems to me that the "winning" of the lawsuit would make that a point no longer valid from a contractual standpoint since TMC defrauded people from the get go. But I am not a lawyer. Do William or Steven have a comment regarding this point.?

irenep59 wrote:

This is a quote I found on RedWeek awhile ago:

To all those inquiring about your heirs being saddled with this albatross: I have been a practicing estates lawyer in NY for nearly 50 years. The information given to you by Laura (I believe her name was) was basically correct: your beneficiary cannot be “forced” to inherit (and therefore have to pay for maintenance etc.) for the timeshare. The legal route is to execute a disclaimer within 9 months after death, and make sure that you do NOT accept the timeshare by using it or otherwise indicating acceptance (e.g., trying to sell it as if you own it). However, each state has its own laws as to how one disclaims. ……Note though: the (resort) can then also disclaim it, so there are some further fine points legal steps that must be implemented in your Will or trust to deal with that possibility. But most definitely your heirs are NOT bound to accept the timeshare and make the payments if a proper disclaimer strategy is included in your estate planning documents.

stevenw on May 02, 2017 06:01 PM.