tbenton
Guest
not a timeshare
I hate to keep beating this horse but so many are using timeshare laws/rules when talking about what Land'Or will or won't share,etc. It is not a Timeshare...its a right to use vaction 'club' and we have no rights to know one darn thing that they do or why they do it. Thats whats so darn frustrating. I am still trying to understand how they can take money from your bank account with no notice or calls from anyone or papers served to go to court for a judgement. Please share info when/if you find out.
TB
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I hate to keep beating this horse but so many are using timeshare laws/rules when talking about what Land'Or will or won't share,etc. It is not a Timeshare...its a right to use vaction 'club' and we have no rights to know one darn thing that they do or why they do it. Thats whats so darn frustrating. I am still trying to understand how they can take money from your bank account with no notice or calls from anyone or papers served to go to court for a judgement. Please share info when/if you find out.
TB
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I have been looking at at the extensive information available at the Virginia government page.
Section 55-370.1 "Time-share estate owners' association annual report" states that "within 120 days after the close of each fiscal year, an annual report shall be prepared and distributed to all time-share owners."
B. The annual report shall contain the following:
1. A list of the names and mailing addresses of the members of the association's board of directors and the name of the person who prepared the report;
2. A balance sheet as of the end of the fiscal year;
3. An income statement as of the end of the fiscal year;
4. A statement of the net changes in the financial position of the association for the fiscal year just ended;
5. A statement of the time-share estates occupancy expenses, the regular assessment, any special assessments or other charges due for the current year from each time-share estate owner; and
6. A copy of the current budget reflecting the anticipated time-share estate occupancy expenses along with:
a. A statement as to who prepared the budget;
b. A statement of the budgetary assumptions concerning occupancy factors;
c. A description of any provision made in the budget for reserves for repairs and replacement;
d. A statement of any other reserves;
e. The projected financial liability for each time-share estate owner, including a statement of (i) the nature of all charges, assessments, maintenance fees, and other expenses which may be assessed, (ii) the current amounts assessed, and (iii) the method and formula for changing any such assessments; and
f. A statement of any services not reflected in the budget that the developer provides, or expenses that it pays, what it expects may become a time-share expense at any subsequent time, and the projected time-share expense assessment attributable to each of those services or expenses for the association and for each time-share.
I repeatedly requested this type of information and said I would pay the special assessment when I received a financial accounting of how the ever-increasing maintenance fees were being used and why they would not cover the items specified in the letter notifying owners of the special assessment. Up until this time, I had always paid my maint. fees early and had even paid a few years in advance in order to be able to have weeks deposited with RCI. I may not even be delinquent on the maint fees because I paid for several years in advance. With the other 15 timeshares we own, I have never paid late. I usually pay up to 2 years in advance in order to be able to space-back early. Whenever Amex has a double (once even triple) miles promotion, I pay all the maint fees, even up to 2 years in advance. I would have continued doing the same with Land'or if things were as they should have been.
I have tape recorded and saved some of the conversations with the people who called me from Land'or. I clearly asked for an annual statement and was told more than once that I couldn't have it because it was "confidential." They finally sent me a "report card" sent to them from RCI , and then called and asked if I was ready to pay the special assessment since they had sent me the statement I requested.
I have a TUG friend who lives in Williamsburg and he will hopefully be able to find an attorney in the area to look into the matter. Since Land'or is in the process of seeking approval to develop a timeshare at an old Equivest property in Williamsburg, they may not want adverse publicity.
Even if I cannot get the relief I feel entitled to, I can at least file complaints with the two timeshare regulatory agencies and let them determine if Land'or is violating their laws by not sending an annual report to all timeshare owners. Each of the owners, with whom I communicated in the past, had never received such a statement.
The court clerk told one of the other owners being sued that Land'or has filed hundreds of cases against owners. There are just 72 units at Land'or. Many paid an exorbitant price buying from the developer--over $10,000.. They have to be extremely dissatified to try to walk away from such an investment. Luckily in my case I paid only $750. and had many great exchanges until the place fell into disrepair and started charging $19. per day per person to RCI exchange guests and EVEN OWNERS! Look at all the people complaining about the $25. a day charge per unit (not per person) at the Manhattan Club. This charge was not in effect during the first several years I owned at Land'or. We have never been notified of annual meetings, nor have we received the type of proxy forms our other ts send so that they can reach a quorum and conduct the meeting. I am anxious to find out the procedure through the Freedom of Information Act to review any other complaints filed against Land'or and how they were resolved.
Thanks for the detailed info you "guys" have provided, even if it is not what I had hoped to hear.
I'm hope Ray Jacobs, owner of Timesharing Today Magazine, will publish an article I'll write warning people to stear clear of this outfit.
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