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The Daily Mail > News > Friar Tuck timeshares closed indefinitely
Based on this article, it looks like the individual timeshare owners are simply being passed over in this proceeding.. However, due to the reported lack of any type of realistic record keeping by the resort- I can't see where anyone can place blame on the judge..
In past threads, it's been discussed how this property was sold not as deeded intervals or undivided interests, but rather as share certificates in the coop which owned the property.. It appears that there is now questions as to whether the share certificates were ever properly issued.
If that is the case, you have to wonder if anyone will file criminal charges against those responsible as it appears that the timeshare owners may be left with no legal rights. New York law is confusing to say the least, but you would think with the number of coops in the region- that someone would be interested in discovering what happened her and at the least ensuring it doesn't happen again!
Based on this article, it looks like the individual timeshare owners are simply being passed over in this proceeding.. However, due to the reported lack of any type of realistic record keeping by the resort- I can't see where anyone can place blame on the judge..
In past threads, it's been discussed how this property was sold not as deeded intervals or undivided interests, but rather as share certificates in the coop which owned the property.. It appears that there is now questions as to whether the share certificates were ever properly issued.
If that is the case, you have to wonder if anyone will file criminal charges against those responsible as it appears that the timeshare owners may be left with no legal rights. New York law is confusing to say the least, but you would think with the number of coops in the region- that someone would be interested in discovering what happened her and at the least ensuring it doesn't happen again!
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