My wife and I purchased a time share at a resort in St.Maartin two years ago. We are up to date on our payments enculding the maintance fees. This past year the resort went into foreclosure because of some shady management practices by the management company handling the resort. That company controled the resort and it's financies. As a result causing the resort to end up in foreclosure. The new owner,( the owner of the same management company) has changed the name of the resort and has now closed the resort stating that it was too expensive to operate it at this time. The resort will remain closed for an indefinite period of time. This closure is stopping my wife and I from using our week for vacation! My question is, am I still responsible to pay any and all fees or loan payments?
We are being denied our week at the resort. As is stated in the orginal resorts purchase contract, We have a certain week that we purchased.
1 Answer from Attorneys
Well, what does your time share purchase agreement say regarding this issue and what is the new owner's position on the matter? (Hardly seems right that you have to continue paying for a service that is no longer being provided for as presumably required under the contract.)