Re: rv membersip park

I am sorry that you have to experience this.

The new owners have no obligation to the former park members, because you have no contract with the new owners. The buyer of property at a foreclosure sale has no responcibility to honor the commitments made by the previous land owner.

Your recourse is against the party that made the commitments to you, namely the former owner of the park. I would assume that if they couldn't pay their mortgage, they probably have no money to make refunds, but you are free to try and collect from them.

Re: rv membersip park

As an add-on to Attorney Bayer's comments, there is one possible (though not at all likely) scenario under which the new owners might have an obligation to the members. If there was some sort of equity or membership agreement between the former owners and its members, AND that agreement was recorded prior-in-time to the mortgage which foreclosed, then you could be make the argument that the foreclosure did not wipe-out obligations to the members. Its extremely uncommon for these arrangements to exist, but I did see it in one instance many years ago with another membership-campground. The only way you will know this is to review your membership agreement, and review title to the property. A title officer could tell you if there was anything regarding memberships recorded earlier than the mortgage that foreclosed. Sorry to hear about the loss.

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