Manhattan Club Lawsuit

We've been at Vidanta for years now, we recently upgraded, they reduced the price by us "trading in" TMC for the value that we put on it. When we got home, the company that acquires these timeshare trade-ins from them decided they were over stocked with timeshare units and (for a processing fee) gave it back to us. So it's a gimmick for the sales people to use to reduce the price in negotiation, then 'selling' these off to a third party to put into their inventory for resale or whatever.

Are you still responsible for the MC yearly mainentance fees or is the 3rd party company responsible for paying it?

dennisc283 wrote:

We've been at Vidanta for years now, we recently upgraded, they reduced the price by us "trading in" TMC for the value that we put on it. When we got home, the company that acquires these timeshare trade-ins from them decided they were over stocked with timeshare units and (for a processing fee) gave it back to us. So it's a gimmick for the sales people to use to reduce the price in negotiation, then 'selling' these off to a third party to put into their inventory for resale or whatever.

We have proof the Manhattan Club fraudulently recorded mortgages on timeshares that were paid for in full by cash or credit card at the closings. There is no penalty for recording fraudulent information on ACRIS, the New York State Real Estate transactions recording system. How does it benefit The Manhattan Club to record fraudulent mortgages?

Irene Smalls

IRENE, here is a self-description of ACRIS. HOW ON EARTH COULD IT NOT BE A CRIMINAL ACT TO FRAUDULENTLY FILE A MORTGAGE CONTRACT? your quote: "There is no penalty for recording fraudulent information on ACRIS, the New York State Real Estate transactions recording system"

this is from ACRIS' WEBSITE:

"About The New York City Register

The New York City Register is charged by law with creating ("recording and filing"), and maintaining for public inspection, an Official Record of real and personal property transfers and interest in Bronx, Queens, New York (Manhattan), and Kings (Brooklyn) counties.

These functions are mandated, required and regulated by:

the United States government: Internal Revenue Code, Federal Liens, § 6323;

the State of New York: Real Property Law, Articles 8, 9, and 12; Tax Law, Articles 11 and 13; Uniform Commercial Code, Articles 1 and 9; and the City of New York: Administrative Code, Title 7, Chapter 6. The City Register functions have high visibility, with active constituencies in the real estate and banking industries, as well as the property-owning public. The real property records are used to prove land title ownership (by a "title search"), and, based on proven clear title, to provide title insurance. Without such insurance, banks will not grant mortgages. The personal property records are used to establish credit-worthiness.

In addition, the City Register collects cash revenue, from the taxes and fees levied against the transactions, and from the sale of duplicates and prints of the microforms to the real estate and banking industries, and public-access users.

irenes93 wrote:

We have proof the Manhattan Club fraudulently recorded mortgages on timeshares that were paid for in full by cash or credit card at the closings. There is no penalty for recording fraudulent information on ACRIS, the New York State Real Estate transactions recording system. How does it benefit The Manhattan Club to record fraudulent mortgages?

Irene Smalls

Question, what would have happened if you told them you weren't interested in having it back and not paid the fee?

dennisc283 wrote:

We've been at Vidanta for years now, we recently upgraded, they reduced the price by us "trading in" TMC for the value that we put on it. When we got home, the company that acquires these timeshare trade-ins from them decided they were over stocked with timeshare units and (for a processing fee) gave it back to us. So it's a gimmick for the sales people to use to reduce the price in negotiation, then 'selling' these off to a third party to put into their inventory for resale or whatever.

Actually nothing would have happened. Years ago we went through the same process but they never contacted us after giving us the discount based on giving up a timeshare. So in my cases - the trade-in process was only a negotiating tactic to reduce the price by tens of thousands.

What makes you think they want your week? They are collecting the maintenance fees every year, no effort in their part. If you return the unit they have to sale it, lost of income for them. The MC ratings has gone so low, due to the fees were paying, thanks Eickner. I want out completely.

Same thing happened to us. Just suggesting that to person who just wants to get rid of MC and as an option to upgrade what they already own.

dennisc283 wrote:

Actually nothing would have happened. Years ago we went through the same process but they never contacted us after giving us the discount based on giving up a timeshare. So in my cases - the trade-in process was only a negotiating tactic to reduce the price by tens of thousands.

The benefit to the MC would be that any "recorded mortgage" is considered an financial asset to the MC that increases their value...and that they can borrow against.

Is it worth while to attend the Annual Meeting on August 3rd this year?

The last three years, I have attended the meetings, nothing gets done except Eichner's agenda. "WASTE OF TIME" in my opinion, and the expense of getting there from Pensylvania.

I'd like to get a look at him. you'd think the AG's pursuit would tarnish his image a bit. What about getting a group together, if in attendance. Any other research I could do while there?

If a group can be formed to attend, I will take the trip from Charlotte NC BUT it will be a requirement for me to get a pastrami sandwich at Carnegie or Katz

Organizing a group to attend the annual is an excellent idea. Regardless of whether our grievances will addressed or not, there is strength in a group. I aways wonder why we did not form a TMC user group to address our common concerns. Does anyone know what happened to the TMC member association?

Do you think we could stay at TMC?? ;)

NOTHING will be accomplished by attending eichner's meeting. he's the king and he tells his subject WHEN AND IF TO SPEAK, owners being his subjects,......and he allows NO ONE who could further tarnish his already disgusting image to speak. STAY AT HOME, and keep airing your specific gripes and sharing OTHER strategies here on redweek.com

I just booked my 3 nights this year at TMC for August 2, 3, 4 and requested a ticket to the annual meeting, which is August 3rd. I'd love to meet any owner during my time in NYC. If any of you can or will go to the meeting, I think there would be strength in numbers.

I don't know what happened to the TMC member association. Were they the group behind the lawsuits? Let's keep in touch and make some effort to attend the August 3rd meeting.

I did not received any information on the annual meeting. If someone has specific information like when and where, I will be sure to attend and meet with TMC members.

All members should have received notices by now that the Annual Meeting has been cancelled by the club, on purpose, to prevent owners from showing up and making a stink in public that might draw attention to the club's practices. Instead of in person meeting, board will conduct proxy voting electronically. If you have a complaint about this, I encourage you to call owner services and let them know what you think. Also, owners can also request reservation to use lounge for an owners membership meeting that would allow you to organize as needed and even bring in guests to talk to owners about the AG's case, maintenance fees and reservation issues. If you call owner services, please post message here informing other owners of feedback you got from the club