lhenriksen
newbie
- Joined
- Jul 9, 2007
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We own two deeded shares at the San Luis Bay Inn in Avila Beach. Ownership of that resort now consists of two pools of owners - those such as ourselves and those that have purchased through Sunterra (points system). Our contention is that the board of the resort has sold out to the detriment of the original (Glen Ivy in our case) owners for the benefit of Sunterra owners. We're now being enticed by Sunterra's salespeople to relinquish our deeded time plus a large sum of money in exchange for Sunterra points. We equate this situation to having to pay additional dollars to remain in the home that we already own. Can anybody else out there relate to our situation and if so, do you have any suggestions on how to proceed? Should we conceed and buy into Sunterra, possibly on the resale market? We're concerned that if we do nothing, what we've enjoyed for years will eventually be unavailable to us and our shares will be worthless. It's already become very evident that what's available to us is far less than what's available to those that have either purchased from or converted to Sunterra.
