Dissolution for Disillusioned?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

We've been talking about the possibility of retracting resorts in response to declining interest, sorta the yin for the timeshare boom yang.

Some see problems, some see possibilities.

A famous American once said, “There are those that look at things the way they are, and ask why? I dream of things that never were, and ask why not?”

Now, off to a round of golf.

[bravesfan Member Find all posts View Profile Close bravesfan]

we always disagree i am ready for a round of drinks

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

OK, so where was I?

Oh yeah.

At one of our resorts, our particular condo association is 15 units, 750 owners I assume. Some are deeded and some are floating.

Granted, some docs might need to be amended, but if, say, 50 owners wanted out . . . 14 units would work just fine . . . being 100% floating would be just fine.

The freed-up condo would fetch about $150,000, about 230 annual fees.

Incidentally, these condos are in a gated community, with a POA, and, because of the times, the POA is in the process of amending their docs. Yeah, all the owners will have to vote on that.

You know, when things change, things need to change, sometimes.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

In a resort that is already mixed use, this concept is probably workable in theory. Yes, the docs have to be amended, and that is almost always a very difficult process. At least for a newer resort, it will take a lower supermajority than in older resorts where some things may even require unanimous consent. The combination of floating and fixed weeks will also presemt a problem to navigate, as you cannot by any vote force a fixed week owner to move to something else. Maybe you could find incentives for any who did not want to move like a better week, better unit, etc.

You need to formally present this to all the members of your HOA. If you do not get consideration there, get a copy of your membership list and do a mailing to your fellow owners.