Manhattan Club Lawsuit

Tim - Heirs and beneficiaries may disclaim all or part of an inheritance should they decide that the inheritance is more trouble than it's worth. Google " How to Disclaim All or Part of Your Inherited Assets". Check your state's probate statutes to confirm any time deadline required by your state for disclaiming an inheritance. Good luck getting rid of your TS. Bob

robertr490 wrote:

Tim - Heirs and beneficiaries may disclaim all or part of an inheritance should they decide that the inheritance is more trouble than it's worth. Google " How to Disclaim All or Part of Your Inherited Assets". Check your state's probate statutes to confirm any time deadline required by your state for disclaiming an inheritance. Good luck getting rid of your TS. Bob

Maybe it depends on your state....I was not allowed to disclaim my timeshare....I was told I could either disclaim everything or nothing, but I couldn't pick or choose what I wanted to disclaim. Granted I don't think I had the best lawyers (I had three of them from three States VA, MA and NY). According to how your contract with TMC is written has some bearing, as they wrote contract to state one owns the timeshare in perpetuity....Have you asked Lynne O'Donnell about this? It seems those of us who inherit should not have to honor the contract since we didn't sign a contract and agree to the terms. I was told by someone at TMC they would still keep trying to collect the fees.

Robert, Thank you for your tip on disclaiming part of an estate. I will check into that. The estate is in probate in GA, so we'll see. Tim

I'd gladly give it back if they quit bugging us.

Yes, I agree whole heartedly! Is there any way to keep the pressure on the A.G. as a group?

All or virtually all states have disclaimer statutes; and there is also a Federal law Code Section 2518, that provides for a “qualified disclaimer” to be done within 9 months after death. The bottom line is that while you generally cannot disclaim a specific asset liKe your TMC ownership, it CAN be done if it is VERY carefully and narrowly drafted so that upon disclaimer, it goes back to the TMC itself, with the Will providing that it does NOT dispose of the deceased’s TMC interest. As a N.Y. estates lawyer for nearly 50 years, I can (without technically offering a “legal opinion!”) assure you it CAN be done—

sharonv68, translation of your remarks: OWNERS, YOU'RE ON YOUR OWN. and, paraphrasing mr. scneniderman.....I DID MY ASSIGNED JOB. BYE, BYE. "ld benefit from the settlement despite the complaint I filed years ago with the AG office when this all started.

I was told if I was entitled to a claim settlement I would recive a check in the mail. That is it!" A JOKE, INDEED. that's what delinquent credit card payers tell the credit card companies...............THE CHECK'S IN THE MAIL..............AND TO QUOTE WAYNE AND GARTH FROM SNL'S "WAYNE'S WORLD"..............................NNNNNNNNNOOOOOOOOOOOOOOOTTTTTTTTTTTTTTTT.

if we owners expect any kind of equitable settlement (depending on our individual situations) we need to be assigned a designated court referee (s) to adequately categorize our claims, offer us a reasonable settlement and/or give us an opportunity to accept or reject the offering..............but don't hold your breath about that possibility. is it possible that mr. schneiderman puts more effort into legal outcomes that will bring him more votes?

WE NEED AN OMBUDSMAN WHO KNOWS LEGALESE, TO STAND UP TO THOSE WHO WILL DETERMINE OUR MANHATTAN CLUB-RELATED FINANCIAL FUTURES AND OUR LEGAL RIGHTS AS TIMESHARE OWNERS, PERHAPS PROVIDED FOR BY ONE OF THE NATIONAL TIMESHARE OWNERS GROUPS. A GROUP OF THIS NATURE CAN EASILY BE DETERMINED BY GOOGLING FOR SUCH A BODY THAT MIGHT OFFER OWNERS SOME NEEDED ASSISTANCE. IN MOST CASES DOING IT INDIVIDUALLY WILL LEAD TO DUST, UNLESS ONE RETAINS A "HOT-SHOT" NY ATTORNEY.

think about it.

chris

sharonv68 wrote:

I spoke to the AG office last week. The assurance document is on the AG on-line site. A claims person from the AG office is still being put in place.

I was told to look at section #62-64 on the assurance document as it addresses what the owners will get. If you read that section it is unclear what owners will get and they told me many owners may get nothing out of the settlement. They could not tell me if I was one of the owners that would benefit from the settlement despite the complaint I filed years ago with the AG office when this all started.

I was told if I was entitled to a claim settlement I would recive a check in the mail. That is it!

stevenw317 wrote:

All or virtually all states have disclaimer statutes; and there is also a Federal law Code Section 2518, that provides for a “qualified disclaimer” to be done within 9 months after death. The bottom line is that while you generally cannot disclaim a specific asset liKe your TMC ownership, it CAN be done if it is VERY carefully and narrowly drafted so that upon disclaimer, it goes back to the TMC itself, with the Will providing that it does NOT dispose of the deceased’s TMC interest. As a N.Y. estates lawyer for nearly 50 years, I can (without technically offering a “legal opinion!”) assure you it CAN be done—

wish you had been my attorney when my mother died ...and I inherited these timeshares

See dennisr294 comments on #170. Bottom line is you must pay all your maintenance fees past, present and next 3 years to be eligible for any small restitution. If maintenance fees are in arrears you may be sent to collections by new owners or current owners depending on acquisition terms.

Hello Stephen,

I am not an attorney, so I don't have to worry about my legal opinions!

However, even assuming that an heir can disclaim inheritance of a timeshare, I believe it would remain in the estate, not revert to the MC. The MC may have a claim against the estate, but so long as it does not enforce it with a foreclosure, it cannot be forced to take possession of the unit. And if the estate is solvent, the executor could not pay bequests to heirs before the debts of the estate, including maintenance fees owed the MC, were paid. To do otherwise opens the executor to liability for defrauding the creditors of the deceased. Payment of debts is one of the primary obligations of the executor.

I would value your feedback.

How will we know when we can give the timeshare back? My understanding is that if you don’t pay the maintenance fees that it will affect your credit rating.

sharonv68 wrote:

I spoke to the AG office last week. The assurance document is on the AG on-line site. A claims person from the AG office is still being put in place.

I was told to look at section #62-64 on the assurance document as it addresses what the owners will get. If you read that section it is unclear what owners will get and they told me many owners may get nothing out of the settlement. They could not tell me if I was one of the owners that would benefit from the settlement despite the complaint I filed years ago with the AG office when this all started.

I was told if I was entitled to a claim settlement I would recive a check in the mail. That is it!

I was the executor as well as the inheritor..I lived in MA, my mother died in VA and this timeshare was in NYC. I had to file an ancillary probate in NY. I was told TMC was legally entitled to collect the fees of the estate in perpetuity. I met a couple last April while I was staying at the club and asked them if they knew about the forum and the investigation...they did not, but paid the fees and enjoyed the club and said they were able, through estate planning, to make sure their heirs were not saddled with the timeshare and that it will somehow disappear after their deaths. I believe they were from South Carolina.

nathanz2 wrote:

Hello Stephen,

I am not an attorney, so I don't have to worry about my legal opinions!

However, even assuming that an heir can disclaim inheritance of a timeshare, I believe it would remain in the estate, not revert to the MC. The MC may have a claim against the estate, but so long as it does not enforce it with a foreclosure, it cannot be forced to take possession of the unit. And if the estate is solvent, the executor could not pay bequests to heirs before the debts of the estate, including maintenance fees owed the MC, were paid. To do otherwise opens the executor to liability for defrauding the creditors of the deceased. Payment of debts is one of the primary obligations of the executor.

I would value your feedback.

Well just received another somewhat threatening call from Daniele from TMC, stating I was behind in fees and taxes and I will be put on foreclosure list. How is that possible when my fake timeshare has been paid in full in 2004, I just didn't pay fees and maintenance since I found out and sent claim in to AG office 2yrs ago.. Can we just all go to NY who ever is in area and stand outside of AG office with Lynda Perquero from news 4 NY to get the Govenors attention and AG to help up at this stand still.

I think the understanding we had regarding the settlement is that all the past due maintenance assessments have to be paid in full. So, I'm thinking that the reference to what you owed was that you have to pay the dues for the 2 years you didn't. Maybe Chris can tell you if that is his understanding of the settlement and who will possibly be compensated under the terms of the settlement.

Yes, Executor or administrator (no Will) MUST pay all valid debts (including arrears TMC maintenance) before distributing to beneficiaries. But this has nothing to do with WHO the beneficiaries are. If EVERYONE who might be entitled to TMC ownership disclaims, AND if the Will is properly drafted (leave the TMC interest directly back TO TMC), then the only possible legal results are (1) TMC inherits the TMC interest (if IT fails to disclaim within 9 months), or (2) the interest will escheat to the State. But ALL potential beneficiaries must disclaim. (It is your legal RIGHT under common law of likely every state—except maybe Louisiana—to disclaim; no one can FORCE a person to accept ANY inheritance.

johnv559, my OPINION, in reference to the reason for foreclosure, is NOT MAKING YOUR MORTGAGE PAYMENTS if you have a mortgage. i doubt that foreclosure can take place for non-payment of maintenance fees. perhaps new york state can take some form of action for non-payment of property taxes. these are only ideas to ponder, but please remember all of the aforementioned is MY OPINION.

johnv559 wrote:

Well just received another somewhat threatening call from Daniele from TMC, stating I was behind in fees and taxes and I will be put on foreclosure list. How is that possible when my fake timeshare has been paid in full in 2004, I just didn't pay fees and maintenance since I found out and sent claim in to AG office 2yrs ago.. Can we just all go to NY who ever is in area and stand outside of AG office with Lynda Perquero from news 4 NY to get the Govenors attention and AG to help up at this stand still.

has anyone googled national timeshare owners' associations? they are, no doubt, in existence, and they may be able to offer or suggest spokespeople for us owners regarding how we should proceed regarding the so-called settlement (after the nysag's legal proceedings were completed.)

let's work on that idea.

keep in touch.

chris

thank you all still confused, no mortgage just 2yrs worth of BS fees. I wish that they would just answer these questions from AG office. This is so stressful.

OK, There is a compliance hearing on Nov. 14 (or 15) regarding the lawsuit. This is not because (I believe) because the owners are "Out of Compliance"'; it appears to be a check in as to progress on the terms of the settlement. I was shown by a very helpful person in the AG's office how to access the NY Court "Web Civil Supreme". If anyone is interested, I can walk you through how to access the site and the MHC case (going on since August 2014 - ugh!) Tim

ok Thank you, I spoke to MC financial dept, and she told me that In order to move forward I had to be up to date with fees, so I paid up. I regret it but I didn't want to have a forclosure on my record