Manhattan Club Lawsuit

James: You will find the options and FAQs about selling your timeshare on this page: Sell My Timeshare

https://www.redweek.com/sell-my-timeshare

If you have further questions, please go to the "Contact Us" link at the bottom of any page. Thanks!

Hello, From my current experience, if you can find a 'buyer' for your timeshare, it will still cost about $2,075 to accomplish the transfer, as follows: Closing Fee- $700.00 Recording Fee- $300.00 – may increase for sales Resort Transfer Fee – for gifts- $100.00 and for sales- $1000.00 Delivery Fee- $75.00

There is no cost, you just call TMC club and tell them you get on the list. The real cost is your original investment is gone, but when/if they send out the paperwork, you will officially be finished.

If you have an offer for $100 take it. I have listed mine for free on Craigs List, no takers

The "process" for many people including my Mom seems to have been to not pay the fees for a while, then an offer shows up in the mail.

Not sure if anyone has gotten the offer by calling them, maybe someone can confirm, if they have done it.

jamess1770 wrote:

I have been following this forum for quite some time, since , unfortunately I am an owner. Many posts are helpful. However, what I would like to know is a description of the process to resell my condo -- step by step. I have read all about the legal issues. I am not looking to recover the initial investment. Of course I would like something, but if not, I simply want to get rid of it.

Does anyone have a description of the process, or would anyone be willing to sketch this out?

Thanks

thomasm832 wrote:

The "process" for many people including my Mom seems to have been to not pay the fees for a while, then an offer shows up in the mail.

Not sure if anyone has gotten the offer by calling them, maybe someone can confirm, if they have done it.

jamess1770 wrote:

I have been following this forum for quite some time, since , unfortunately I am an owner. Many posts are helpful. However, what I would like to know is a description of the process to resell my condo -- step by step. I have read all about the legal issues. I am not looking to recover the initial investment. Of course I would like something, but if not, I simply want to get rid of it.

Does anyone have a description of the process, or would anyone be willing to sketch this out?

Thanks

Hi Thomas, I have shared with you in the past that in June 2014 I gave back my timeshare for $100. I am still waiting to get the money and final paperwork. I contacted Louis Solomon recently and he said the investigation was finalized 2 years ago and its in TMC's hands to finalize the deal. I contacted Lynne O'Donnell who, finally, after years of me asking, sent my request to the Corporate Offices. Today she says that she heard that I should get what I am due sometime in October or November. We'll see. I think that those owners who more recently stopped paying their fees are getting the offer of the $100 buy back. I sounds like some actually got the $100.

" I contacted Louis Solomon recently and he said the investigation was finalized 2 years ago and its in TMC's hands to finalize the deal."...your quote.

doesn't it seem more likely that the enforcement of TMC's finalizing the deal should be done by the ny state attorney general and/or the court rather than leaving said finalization (timely resolution) up to a body that defrauded us in the first place?

deborahs528 wrote:

thomasm832 wrote:

The "process" for many people including my Mom seems to have been to not pay the fees for a while, then an offer shows up in the mail.

Not sure if anyone has gotten the offer by calling them, maybe someone can confirm, if they have done it.

jamess1770 wrote:

I have been following this forum for quite some time, since , unfortunately I am an owner. Many posts are helpful. However, what I would like to know is a description of the process to resell my condo -- step by step. I have read all about the legal issues. I am not looking to recover the initial investment. Of course I would like something, but if not, I simply want to get rid of it.

Does anyone have a description of the process, or would anyone be willing to sketch this out?

Thanks

Hi Thomas, I have shared with you in the past that in June 2014 I gave back my timeshare for $100. I am still waiting to get the money and final paperwork. I contacted Louis Solomon recently and he said the investigation was finalized 2 years ago and its in TMC's hands to finalize the deal. I contacted Lynne O'Donnell who, finally, after years of me asking, sent my request to the Corporate Offices. Today she says that she heard that I should get what I am due sometime in October or November. We'll see. I think that those owners who more recently stopped paying their fees are getting the offer of the $100 buy back. I sounds like some actually got the $100.

I agree with you wholeheartedly...unfortunately that is not the reality. My transaction (I signed papers, and was relieved of paying the fees) was not completed because all sales and transactions were put on hold due to the investigation in June 2014). Now that it is over and has been for 2 years, according to the settlement/court, it was up to TMC to finalize those transactions. The AG/New York State obviously feel they did their job and have moved on. TMC is now offering $100 buyouts to those who have not been paying their fees. Whether those who sign on ultimately get final paperwork and $100 at all or how long that will take remains to be seen. It seems it has worked for at least one person on the forum.

chrisv126 wrote:

" I contacted Louis Solomon recently and he said the investigation was finalized 2 years ago and its in TMC's hands to finalize the deal."...your quote.

doesn't it seem more likely that the enforcement of TMC's finalizing the deal should be done by the ny state attorney general and/or the court rather than leaving said finalization (timely resolution) up to a body that defrauded us in the first place?

deborahs528 wrote:

thomasm832 wrote:

The "process" for many people including my Mom seems to have been to not pay the fees for a while, then an offer shows up in the mail.

Not sure if anyone has gotten the offer by calling them, maybe someone can confirm, if they have done it.

jamess1770 wrote:

I have been following this forum for quite some time, since , unfortunately I am an owner. Many posts are helpful. However, what I would like to know is a description of the process to resell my condo -- step by step. I have read all about the legal issues. I am not looking to recover the initial investment. Of course I would like something, but if not, I simply want to get rid of it.

Does anyone have a description of the process, or would anyone be willing to sketch this out?

Thanks

Hi Thomas, I have shared with you in the past that in June 2014 I gave back my timeshare for $100. I am still waiting to get the money and final paperwork. I contacted Louis Solomon recently and he said the investigation was finalized 2 years ago and its in TMC's hands to finalize the deal. I contacted Lynne O'Donnell who, finally, after years of me asking, sent my request to the Corporate Offices. Today she says that she heard that I should get what I am due sometime in October or November. We'll see. I think that those owners who more recently stopped paying their fees are getting the offer of the $100 buy back. I sounds like some actually got the $100.

CHOICES to consider: (1) await an offer, essentially, to GIVE your investment back to TMC, a fraudulent entity, with a substantial loss to you; OR (2), join a growing number of participants (plaintiffs) in a lawsuit (at a relatively low cost in comparison to TMC's ultra-exorbitant maintenance fees) to legally combat TMC's past and continuing wrongdoing and scamming against us owners. the faster we unite in this litigation, the faster will be the probability of court decisions in our (TMC OWNERS') favor-- which could mean the salvation of your initial investment.

on page 289 of this forum, you will find the partial, successful results of our suits as outlined by attorney, jean-marc zimmerman. it appears that further successful litigation will follow. stay tuned.

I know this not the proper forum but if anyone needs the Sunday night Oct 13 for the larger one bedroom it is available. Let me know and I can provide you with my email address. No other way to reach out to folks who are owners and I realize it is a busy weekend with a wait list. Unless someone can direct me to another way to reach our owners.

I was waiting for you last week, Chris V. I wanted to buy you a drink.

hello dickh68,

join us.

dickh68 wrote:

Sounds promising...thank you very much!

I,too, did not pay my fees, and have received paperwork to deed it back and they will pay me $100.00. Don't know if this is a scam, but it looks to be pretty legitimate. Anyone have any additional info on this?

i have also received paperwork from tmc to deed back my unit to them and receive $100. I also have joined to sue them with Atty Zimmermans action $1250 was retainer. Spoke with the lawyer and am pleased with his progress "Tucker action" and he has advised me to hold firm and see how it plays out. I have decided to decline the $100 nonsense and see if we can ultimatly get justice through his efforts. TMC wants our deeds to resell ,not help us so I suspect that holding on is our best couse of action. Sid FeldmN

Sidney - I support your decision 100% and am also part of the Zimmerman litigation. I think we've already been scammed twice so no 3rd time's the charm for them!!!

needless to say (but i will say anyway) TMC has not and will not ever do anything in owners' financial behalf.

anything of value that they do is to benefit themselves and only themselves, adding to their fortune with not even an equitable quid-quo-pro for us owners.

think about it: TMC is offering us a mere, embarrassing pittance of $100 for new york city real estate for which we paid, on average, upwards of $30-70,000+ . the irony is that they will use the property GIVEN BACK to increase their inventory for future sales at the current going $$ rate...a lose-lose scenario for all owners involved. included in this equation is the exponentially exorbitant maintenance fees which have also substantially increased TMC's financial status over the years.

current litigation seems to be bending in owners' favor. it's worth considering joining forces in these potentially successful legal strategies to combat further attacks on our finances. see additional comments on this issue on pages 289-291 of this forum.

Chris, I sometimes think there is a ray of hope because unless they (would it be Bluegreen) bring those maintenance fees down, I think it might be difficult for them to scam more future owners into buying a timeshare at TMC. But, on the other hand, perhaps they will come out better financially renting the units out themselves rather than selling the timeshares outright.

To all: My rational for refusing to transfer my delinquent ownership for $100 is the nagging idea that if TMC now suddenly is accellerating the attempt to repurchase our ownership stake in the real estate, it is because they see some real value in what many of us want to throw away for $100. I really think there is a fear that the management sees their control slipping and under pressure from the Zimmerman action. IF we regain meaningful control of this structure there is no question of its multi million dollar value. As individuals each of us made our own decision to invest in TMC and felt it was a reasonable deal. The only thing that has changed in this formula was the actions of the crooks that have milked TMC and us in numerous ways. As I see it giving your ownership away makes no sense and should any justice ultimatly prevail that $100 sale excludes you from a tremendous potential upside. I again call upon owners to hold firm, and join the Zimmerman suit as you may find yourself excluded from a potential verdict limited to class members. We have not seen any meaningful efforts from them in attempting to force our delinquent accounts to be paid, and that also seems strange. Are we really so timid to give away a valuable piece of NYC to the proven thieves who now act as our saviors. Hold firm... we may be closer to a resolution than you think.

Interested in the deed back...who contacted you?

Thanks Carol P.

I wonder who is buying back these units? Is Bluegreen? Bluegreen is now using the Manhattan Club as way of using up their members points. If they own the units are they paying the same dues as the rest of us? If TMC is buying the units how does Bluegreen get to use them? The lack of transparency makes everyone question all of these deals. Looking at the financial statement there is an item showing a 10 million dollar bad debt. Is this for the year of the statement or is it the accumulation of people not paying their dues over time? I suspect this should be in the balance sheet and not the financial statement. By putting it in the financial statement under the terms of the management contract the management company gets a bigger payout.