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Old Monday, February 21st, 2011, 10:04 PM
jbfloor jbfloor is offline
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Unhappy legal rights

I bought a timeshare from paradise beach villas before the developer went belly up, do I have any legal rights to my weeks any more?I gave up for fear of being scammed anymore.What went down with the bankruptcy for the original owners.
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Old Tuesday, February 22nd, 2011, 11:06 AM
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mark mark is offline
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Default Re: legal rights

Can you send me a bit more information on this in a PM (private message)? - lets see what can be done.
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Old Thursday, March 3rd, 2011, 06:42 PM
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charlescroes charlescroes is offline
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Default Re: legal rights

JBFLOOR,
Belly up timeshares are a problem but thanks to good legislation , it seems to be a thing of the past in most areas. that said, If you have your original documents, they should include three segments of importance to you.

#1 - Verification of Presentation
This is a sign off sheet where the sales person and you go over the basic but import points on which you were sold. Normally in this section, it has a bankruptcy statement. Look there first.

#2 - Articles of Association
Go to the glossary and look through there to see if there are any references to bankruptcy. Normally there are. In a word (how the company works)

#3 - The By-Laws
This is a fairly well laid out document on the intended rules and regs. In a word (How the company is run).

If they did not give you those documents then I can assure you that you can go to the board of association and request them. Why?

On day "one" the project is owned 100% by the development company. As the timeshares are sold, small fractions of this company change hands and an agreement is reached between yourself and the developer. Either he sells it to you outright, or he gets into a user-ship agreement with you. In any event, it is a contract and money changed hands and they must - I REPEAT - MUST have that on file since it goes to the Notarial offices here and they are picky about all details.

So, yes - a record of your sale exists (you should have all the documents) and yes it can be researched in the event you don't have it.

The conditions of your sale when you bought it are all recorded there.

Lastly, if you signed a proxy letter, then your quest has just become a hundred times more difficult to research since proxies are bundled by the holders and that changes hands from one holder to the other.

Give it a shot by coming down and demanding answers.

be well
charles








bought a timeshare from paradise beach villas before the developer went belly up, do I have any legal rights to my weeks any more?I gave up for fear of being scammed anymore.What went down with the bankruptcy for the original owners.[/QUOTE]
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