[2014] Skiers Edge Condominium sale Breckenridge CO

klsjacobs · Apr 14, 2015

To be honest, I am not sure how the property was originally deeded. I did not sign a quit claim for the most recent tranx though. My parents bought into Skier's Edge in 1982 and I have the Title Insurance policy for that tranx and it shows the property is owned Fee Simple between my parents. They were granted a Deed of Trust for their week. We purchased it from my parents in 1995 and they executed a Quit Claim Deed which was recorded in Summit County. I do not have time to get up to Summit County anytime soon but I did realize the check issued to us has an address of a law firm in Golden, CO. I emailed two board members to see if I can get additional information on the sale. Depending on how/if they respond I may contact the law firm handling funds disbursement.

winglover1 · Apr 21, 2015

Feeling ripped off

I have been a Skiers Edge time share owner for 14 years. The previous management team was scamming the owners into near bankruptcy. They failed to pay half a million in taxes and guess who got to pay for their embellishments? Our annual fees went from $550 a year to over $1100! Now, after paying special assessments for the last four years to update the resort, they sell it cheap to company A to make a few bucks and then Company A re-sells for a HUGE profit! Are you freaking kidding me??!!

I received my check for almost $3000 and even though I know I am being screwed, I will probably have to cash it and take it like a man!

Included with the check is the following statement:

This distribution constitutes a General Release of, and a full accord and satisfaction with, Skier's Edge Condominium Association, Inc., for any and all claims

Checks shall be void if not cashed within 60 days of issuance. Sixty days after a distribution check's issuance, and if not cashed, a monthly maintenance fee of $15.00 will be charged against said account/amount. A $100 fee will be charged to any7 owner requesting that a distribution check be reissued.

So basically they are saying take it, cash it and we are off the hook!
Astards!

Robert D · Apr 22, 2015

Wasn't VRI the last manager of the resort?

tugnut · Apr 22, 2015

winglover1 said:
I have been a Skiers Edge time share owner for 14 years. The previous management team was scamming the owners into near bankruptcy. They failed to pay half a million in taxes and guess who got to pay for their embellishments? Our annual fees went from $550 a year to over $1100! Now, after paying special assessments for the last four years to update the resort, they sell it cheap to company A to make a few bucks and then Company A re-sells for a HUGE profit! Are you freaking kidding me??!!

I received my check for almost $3000 and even though I know I am being screwed, I will probably have to cash it and take it like a man!

Included with the check is the following statement:

This distribution constitutes a General Release of, and a full accord and satisfaction with, Skier's Edge Condominium Association, Inc., for any and all claims

Checks shall be void if not cashed within 60 days of issuance. Sixty days after a distribution check's issuance, and if not cashed, a monthly maintenance fee of $15.00 will be charged against said account/amount. A $100 fee will be charged to any7 owner requesting that a distribution check be reissued.

So basically they are saying take it, cash it and we are off the hook!
Astards!

While I sympathize with you with all the mismanagement $3000 is way more than what I would expect. At $1,250,000 selling price and $3000 split that means about 415 owners in good standing to split the $1.25m. County lists it at 40 units so potential was over 2000 owner weeks would value at about $650.
Management companies will continue to dominate and control the TS resorts. It's a simple matter of managing the finances and controlling proxy votes and they do anything they choose.

theo · Apr 23, 2015

Please don't paint with too broad a brush...

tugnut said:
<snip> Management companies will continue to dominate and control the TS resorts. It's a simple matter of managing the finances and controlling proxy votes and they do anything they choose.

I admittedly know nothing whatsoever about the Skier's Edge situation in Colorado. That being said, I certainly know plenty about some other timeshare facilities and their management companies after about three decades worth of first hand involvement and direct, first hand observation.

At responsible HOA-controlled independent resorts, the management company is essentially just a hired "employee" --- hired by the HOA and which can just as easily be fired by the HOA and replaced upon current contract term expiration --- or before then if contract performance failure warrants such HOA action.

At any and all such truly independent facilities, the management company has a job to do with allocated funds as authorized by the HOA --- no more and no less.
The management company (the employee) in such instances has no vote, no proxies, no influence, no nada. Zippo. Not only can they they not "do anything they choose", but they can't actually do anything at all except manage the facility, just exactly as they were hired to do, under the watchful eye of an attentive and responsible HOA.

I have no idea what went on or is going on now with Skier's Edge, but I'm comfortable in speculating that someone (maybe lots of someones) was fast asleep at the wheel there and not paying sufficient attention to the finances for that situation to have ever possibly degenerated into the apparent mess it subsequently became. :shrug:

Tia · Apr 23, 2015

theo said:
I have no idea what went on or is going on now with Skier's Edge, but I'm comfortable in speculating that someone (maybe lots of someones) was fast asleep at the wheel there and not paying sufficient attention to the finances for that situation to have ever possibly degenerated into the apparent mess it subsequently became.

Sadly most likely very true. That being said it's very hard to get enough owners to pay attention to the finances or even communicate with those that are, because whoever is in-charge also makes all the rules and guards the information and contact info for other owners closely. Timeshares are very vulnerable for sneaky business types looking for ways to exploit finances imho.

Too bad you don't have a good lawyer owner , that's what helped my one ts get a multi million $ settlement as it was being drained by sneaky business types ..... that and a small group of interested owners who raised $ and used the internet to find other owners to out vote the then developer.

theo · Apr 23, 2015

Tia said:
Sadly most likely very true. That being said it's very hard to get enough owners to pay attention to the finances or even communicate with those that are, because whoever is in-charge also makes all the rules and guards the information and contact info for other owners closely. Timeshares are very vulnerable for sneaky business types looking for ways to exploit finances imho.

Too bad you don't have a good lawyer owner , that's what helped my one ts get a multi million $ settlement as it was being drained by sneaky business types ..... that and a small group of interested owners who raised $ and used the internet to find other owners to out vote the then developer.

At one of our places (a small, independent facility with no developer presence or influence) we actually have two experienced and attentive attorney / owners on the Board, one of whom is a former prosecutor, retired now but still quite alert and ready and willing to undertake any good battle worth fighting.

blondenfun1 · Jun 5, 2015

tugnut said:
My brother (owner) received a letter from Skiers Edge (TS) asking to vote yes or no to a Declaration of Obsolesence and Sale of Condominium Project.

Pursuant to Sect 18.2 (B) of the Amended and Restated Declaration The Skiers Edge Condominium Units are declared obsolete and Skiers Edge Condominium Board of Managers is directed to sell Skiers Edge Condominium Project and to apportion and distribute the sales proceeds to in accordance with Sect 18.6 of the Amended and Restated Declaration.
Does anyone know anything about this? a copy of the declarations? He's already been scammed twice trying to rid himself of this.

I am an owner at Skier's Edge Breckenridge, CO. We keep getting mail saying there is a problem with our deed, and that we need a lawyer to help us clear the "cloud" on our title. The lawyer they want us to use is Noah Klug. I left him a voicemail asking his rates, and he never returned my phone call. I called the Post Office in Breckenridge who said the P.O. Box 62 was closed a long time ago. I called RCI who gave me that standard voicemail message which states not all the owners have sent in their W9 forms, or have issues with their titles. RCI membership clerks don't realize the property has been sold and is no longer being used.

I contacted a lawyer that I trust to solve my cloud on my title, removing a name of a deceased person so I can get my check. My title is not tenants in common. The Summit County Clerk urged me to get a lawyer and sounded nervous on the phone. I think something very fishy happened, as the Post Office clerk wouldn't tell me who is getting the mail from P.O. Box 62, but he assured me Noah Klug is not getting the mail there at Box 62.

blondenfun1 · Jun 5, 2015

klsjacobs said:
To be honest, I am not sure how the property was originally deeded. I did not sign a quit claim for the most recent tranx though. My parents bought into Skier's Edge in 1982 and I have the Title Insurance policy for that tranx and it shows the property is owned Fee Simple between my parents. They were granted a Deed of Trust for their week. We purchased it from my parents in 1995 and they executed a Quit Claim Deed which was recorded in Summit County. I do not have time to get up to Summit County anytime soon but I did realize the check issued to us has an address of a law firm in Golden, CO. I emailed two board members to see if I can get additional information on the sale. Depending on how/if they respond I may contact the law firm handling funds disbursement.

I'm still on the deed and I haven't received a check yet for Skier's Edge Breckenridge. I did contact my own lawyer in Denver whom I fully trust, but I thought I just had to remove the cloud from my deed (one of the 3 of us owners died).

Should we see what can be done? The attorney I contacted is Jeffrey Timlin, he's a criminal defense attorney, family lawyer, and foster children's advocate. My name is Lisa from Oceanside, NY and my email addy is blondenfun1@optonline.net

Maybe if we all figure out a way to get our share of the money they made off our backs, we will have more than the $1700 we were promised. I see someone got about $3,000. Let me know!

Anyone notice that we are supposed to contact a lawyer in Dillon, CO named Noah Klug? He's using the Post Office Box that used to belong to Skier's Edge (Box 62) and he's using their phone message to ensure he is the lawyer to "help owners with their deeds". DO NOT SEND Any money to that Noah Klug! I'm contact the Attorney General of Colorado, and my own lawyer to represent my interests in this case, Jeffrey Timlin. I trust Timlin as he was our family attorney a long time ago in the 1990's when we lived in Colorado. Email me is you want to know what happened to my deed, proceed check, or if Klug was arrested.

blondenfun1 · Jun 5, 2015

tugnut said:
Any actual current owners out there?

Yes! I still own a TS at Skier's Edge. I am going to contact the Attorney General of Colorado and ask how a property can be sold with my name on the deed, and how there seems to be one Noah Klug, attorney at law with his hands in the pie! Noah Klug has been sending me letters saying they are from the Skier's Edge Condominium Association yet the Post Office Box has been reassigned for a long time to someone else other than Skier's Edge, and Noah Klug has something to do with this fraud. The letters ask me to contact him so he can help me with ease and "little expense".

saabman · Jun 9, 2015

I used to be a frequent winter visitor to Breck and recall Klug's name as an attorney in the area of some note. I do not know him personally and cannot speak to his character. Here is his personal blurb on his website:

About Noah Klug
Breckenridge, CO Attorney
Serving the entire Western Slope

Noah Klug was born and raised in Colorado, where he attended the University of Colorado at Boulder for undergraduate studies and the University of Denver for law school. After interning with Judge Arthur Roy at the Colorado Court of Appeals and passing his bar exam, Noah worked closely for "local legend" real estate attorney Jay Bauer before founding his own law firm in 2009. He is admitted to practice in all state and federal courts in Colorado, and is a member of the Colorado Bar Association and the Continental Divide Bar Association. He is knowledgeable in real estate and business law and is an experienced and successful litigator.

In addition to his many professional achievements, Noah served as an officer in the United States Naval Reserve where he was awarded the Navy Achievement Medal and received his honorable discharge at the rank of Lieutenant. He served as a member of the Town of Dillon Planning commission and currently serves a a member of the Snake River Planning Commission. He is well known locally for his "Mountain Law" column which runs periodically in the Summit Daily News.

Get experienced legal counsel from a Colorado native - call 970-468-4953 today.

The following link is an article on Skler's Edge from April that you may already be familiar with:
http://www.summitdaily.com/news/15828613-113/a-crash-course-on-the-netherworld-of-colorado-timeshare

tugnut · Jun 9, 2015

saabman,
Thanks for the link to the Foreclosure info. I did not know the process and I am a former BOM member of a TS.
Again the TS management/HOA BOM relies on the opaque nature of the communications to individual owners. The less the owners know the better (mushroom affect).
I'm sure no owner was aware that they could challenge the foreclosure and no one came forward. Some how declaring the resort "Obsolete" gave license to transfer property.
Notice the line Quote:" timeshares are testing the boundaries of a relatively new legal theory: quiet title action." unquote. This is being used at other TS's.

Tia · Jun 11, 2015

Happening at other timeshares? Guess wouldn't surprise me. Mushroom effect, keeping owners in the dark, it is why I have proceeded to sell our first and only remaining ts. Most owners just do NOT CARE and can't be bothered to pay attention even though many know what can happen and not so long ago did with this resort. So many believe the everything is wonderful a friendly pool sitting board member spews w/o asking for documented financials/answers. Try to get answers you get accused of being negative... that is their defense to deflect.

tugnut said:
saabman,
Thanks for the link to the Foreclosure info. I did not know the process and I am a former BOM member of a TS.
Again the TS management/HOA BOM relies on the opaque nature of the communications to individual owners. The less the owners know the better (mushroom affect).
I'm sure no owner was aware that they could challenge the foreclosure and no one came forward. Some how declaring the resort "Obsolete" gave license to transfer property.
Notice the line Quote:" timeshares are testing the boundaries of a relatively new legal theory: quiet title action." unquote. This is being used at other TS's.

blondenfun1 · Jun 12, 2015

saabman said:
I used to be a frequent winter visitor to Breck and recall Klug's name as an attorney in the area of some note. I do not know him personally and cannot speak to his character. Here is his personal blurb on his website:

About Noah Klug
Breckenridge, CO Attorney
Serving the entire Western Slope

Noah Klug was born and raised in Colorado, where he attended the University of Colorado at Boulder for undergraduate studies and the University of Denver for law school. After interning with Judge Arthur Roy at the Colorado Court of Appeals and passing his bar exam, Noah worked closely for "local legend" real estate attorney Jay Bauer before founding his own law firm in 2009. He is admitted to practice in all state and federal courts in Colorado, and is a member of the Colorado Bar Association and the Continental Divide Bar Association. He is knowledgeable in real estate and business law and is an experienced and successful litigator.

In addition to his many professional achievements, Noah served as an officer in the United States Naval Reserve where he was awarded the Navy Achievement Medal and received his honorable discharge at the rank of Lieutenant. He served as a member of the Town of Dillon Planning commission and currently serves a a member of the Snake River Planning Commission. He is well known locally for his "Mountain Law" column which runs periodically in the Summit Daily News.

Get experienced legal counsel from a Colorado native - call 970-468-4953 today.

The following link is an article on Skler's Edge from April that you may already be familiar with:
http://www.summitdaily.com/news/15828613-113/a-crash-course-on-the-netherworld-of-colorado-timeshare

I spoke with attorney Noah Klug yesterday. He actually returned my call a week or so after I left him a voicemail asking him his rates for helping remove a deceased person from my deed at Skier's Edge TS condos. His rates are a flat $250, but when I asked why I would even need to modify the names on the deed when the sale of Skier's Edge already went through and how the new owners and myself could both be on the deed, he fell silent on the phone.

My husband asked Klug who he represents. When Klug said, "not the owners" my husband asked, "Who, then, the criminals?" and Klug was silent. Klug told me the TS owner's checks were mailed from attorney Douglas Turner's office in Golden, CO, and he added that Turner would not talk to me. I asked why not? Klug made up some flimsy excuse, so I told Klug I am contacting the CO attorney general's office.

I have left a message with the CO attorney general, and am waiting for a return call. Until then, I'm still on the Skier's Edge deed, and I haven't requested a check from Douglas Turner, because I don't want to box myself into agreement with the sale.

Just because Noah Klug writes in a newspaper article that there was a quiet title action doesn't make it so.

Hang in there owners who still haven't cashed in!
Lisa Phillips blondenfun1@optonline.net (contact me) :shrug:

blondenfun1 · Jun 12, 2015

Hi tugnut!

Can you please tell me what the acronym/initials MF mean in your posts? Thanks in advance! I have called the Colorado Attorney General's office, and waiting for a call back..... My name is still on the deed. If there was indeed a quiet title action, attorney Noah Klug would have told me yesterday on the phone when I asked him how the new owners and my name can both be on the deed. I assume more than just myself are on the deed still, filed safe and sound (I hope!) in Summit County. I think the levels of corruption on this are very deep! I will keep you posted!

saabman · Jun 12, 2015

blondenfun1 said:
Just because Noah Klug writes in a newspaper article that there was a quiet title action doesn't make it so.

(Phil Lindeman was the author of the Summit Daily article in the link I posted, not Klug.)

Here's the important part of the news that pertains to the "owners".

"The Skier’s Edge Condominium Board of Managers filed two types of documents for the entire complex: one a foreclosure, one a quiet title action. The foreclosure was never processed and the property was sold in late 2014 for $2.25 million, according to the assessor’s office. Before the sale, the property was declared obsolete by the board, but it still had to go through the process of filing both documents. When timeshare buyers didn’t fight either in court, the quiet title action was approved."

When I pass thru Breck this summer I'll stop by to see the new operation, if they actually open as planned. The complex is in a lousy location IMO.

tugnut · Jun 12, 2015

blondenfun1 said:
Hi tugnut! Can you please tell me what the acronym/initials MF mean in your posts? Thanks in advance! I have called the Colorado Attorney General's office, and waiting for a call back..... My name is still on the deed. If there was indeed a quiet title action, attorney Noah Klug would have told me yesterday on the phone when I asked him how the new owners and my name can both be on the deed. I assume more than just myself are on the deed still, filed safe and sound (I hope!) in Summit County. I think the levels of corruption on this are very deep! I will keep you posted!

MF=Maintence Fees usually expressed in dollars per year but really number of extortions. :hi:

Been travelling in Dial Up Speed internet country. Will post observations later.

DizzE · Mar 17, 2016

Please help!

To former owners of Skier's Edge TS, who received a check for the sale of the property, I'm curious how everyone is treating this payment on their taxes. It seems that TurboTax is treating the payment as fully taxable, which I'm not sure is correct because:
- Our original purchase payment was more than we got back in the sale. I.e. we sold at a loss.
- one of the items on the tax form we received was for "Refund of excess assessments", which sounds like our own money being refunded back to us.

Any information/insight you can give would be much appreciated! This is a preyty unusual situation and not quite sure how to account for it. :doh:

SMHarman · Mar 17, 2016

DizzE said:
To former owners of Skier's Edge TS, who received a check for the sale of the property, I'm curious how everyone is treating this payment on their taxes. It seems that TurboTax is treating the payment as fully taxable, which I'm not sure is correct because:
- Our original purchase payment was more than we got back in the sale. I.e. we sold at a loss.:

You are correct that the receipt should be compared against purchase price and improvements to get a capital gain.

DizzE said:
- one of the items on the tax form we received was for "Refund of excess assessments", which sounds like our own money being refunded back to us.

Any information/insight you can give would be much appreciated! This is a preyty unusual situation and not quite sure how to account for it.

The assessments would be for capital improvements.
This money is left pocket right pocket. It was taxed when it came into your left pocket. Paid from taxed income (left pocket) to the condo assn (right pocket) and is now being returned (right > left) so this should not even be included in the tax return.

DizzE · Mar 17, 2016

Wrong tax form

Thanks so much for your quick response!
Well, according to a "TurboTax Pro" at TurboTax, WE ALL RECEIVED THE WRONG TAX FORM! We should have received form 1099-S (instead of 1099-MISC). This is why TurboTax is not calculating correctly. This makes sense to me, as it fits with everything else I have read about timeshare sales. Here's the TurboTax post:
https://ttlc.intuit.com/replies/5295334

Any idea who we can contact to get this corrected?

klsjacobs · Mar 18, 2016

Skier's Edge Contact Info

Does anyone have any contact information for Skier's Edge or the company hired to wrap up the sale of Skier's Edge? The website has been closed and of course the management office is long gone. The 1099 they sent us for sale proceeds is wrong. They should have sent us a 1099-S instead of a 1099-MISC. I need a contact to get a corrected form.

Robert D · Mar 18, 2016

I think VRI Resorts was the manager of Skier's Edge and they should be able to provide the info you need.

SMHarman · Mar 18, 2016

DizzE said:
Thanks so much for your quick response!
Well, according to a "TurboTax Pro" at TurboTax, WE ALL RECEIVED THE WRONG TAX FORM! We should have received form 1099-S (instead of 1099-MISC). This is why TurboTax is not calculating correctly. This makes sense to me, as it fits with everything else I have read about timeshare sales. Here's the TurboTax post:
https://ttlc.intuit.com/replies/5295334

Any idea who we can contact to get this corrected?

You can of course complete this in turbo tax as if it is form S.
You may get a question on the return you can deal with it then.

DizzE · Mar 21, 2016

Skier's Edge contact

If you call the Skier's Edge HOA phone number, it says to direct correspondence to the address on your 1099 form. I have sent a letter to that address, requesting a 1099-S and also that they inform the IRS of the incorrect form. I feel like my letter has a better chance of getting somewhere if multiple former owners send one as well. Will anyone else please send one too? I would rather not deal with an IRS inquiry and providing the proper form and a correct return is the best way to do that....

tugnut · Mar 27, 2016

DizzE said:
If you call the Skier's Edge HOA phone number, it says to direct correspondence to the address on your 1099 form. I have sent a letter to that address, requesting a 1099-S and also that they inform the IRS of the incorrect form. I feel like my letter has a better chance of getting somewhere if multiple former owners send one as well. Will anyone else please send one too? I would rather not deal with an IRS inquiry and providing the proper form and a correct return is the best way to do that....

My brother got the same 1099-MISC instead of 1099-S. Google Skiers edge for tele 970-453-0700. Does not accept message. Advises that 1099 have been sent for further info written request to Skiers Edge HOA PO Box 514 Evergreen CO 80437.

[2014] Skiers Edge Condominium sale Breckenridge CO

klsjacobs

winglover1

Robert D

TUG Review Crew

tugnut

theo

TUG Review Crew: Veteran

Tia

theo

TUG Review Crew: Veteran

blondenfun1

blondenfun1

blondenfun1

saabman

tugnut

Tia

blondenfun1

blondenfun1

saabman

tugnut

DizzE

SMHarman

DizzE

klsjacobs

Robert D

TUG Review Crew

SMHarman

DizzE

tugnut