Larry M
TUG Member
I should have served on the board of the small (15-20 units) independent timeshare in South Carolina, but I didn't find out until too late. That was when the BOD told us they were broke--that the treasurer felt bad about the people who had stopped paying and for years had never foreclosed the units. The BOD recommended we vote to sell the property.
The only good news was that when they sold the properties and split the proceeds among ONLY those who were paid up, I got a check for $4000 more than I had paid for the unit.
The only good news was that when they sold the properties and split the proceeds among ONLY those who were paid up, I got a check for $4000 more than I had paid for the unit.