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RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick -
Our newest-to-us resort's sunset clause comes up in 2022, and they put a notice in the annual fee billing, saying they have attorneys studying it.
There will be quite a lot of these coming up at the 30-year anniversary of the surge in resort formation in the early 80's.RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick -
Here's what our resort is going to do.
The Board has been "straw-polling" and has determined that the owners obviously want to continue on with the timeshare plan, and the fact that there is "no other good option". So instead of waiting until 2022, the resort is going to deal with this in 2018.
Repeal and Replace
The Board is going to propose to repeal the sunset clause and replace it with a sunset clause that is not dated. So, there will still be one, but it will only come into play if it is ever needed (and there are some scenarios where it might be desireable to terminate the timeshare plan).
This Repeal and Replace requires a 51% vote, something that would be next to impossible at a meeting, so the plan is to collect each of the owners' votes in each of their weeks as they come to the resort in 2018, at least until they hit the magic number.RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dickComment
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