MA House Bill 4496
MA legislators are making corrections in MGL 183B - specifically addressing defaults on maintenance and assessment fees, making the process easier to foreclose on those delinquent accounts.
While this bill is beneficial in making it easier for those in financial straits to forfeit their unit for resale, it also gives developers the opportunity to buy and or sell large blocks of units by auction in a resulting takeover from the existing Owner's Association.
At Sandcastle in Provincetown, the current management has stated at the annual meeting that our units recouped via this new procedure or small claims court, will be offered 'in bulk' at auction -
so members of the existing owners association will NOT be able to buy additional units unless purchased in '100 unit' blocks - therefore essentially allowing for developers like Festiva in our case, to overtake the units and gain majority control.
Also, a bulk sale or auction sale will not necessarily bring the owners association realistic sums of money for prime weeks. Fifty or 100 units sold at in bulk $1000 a piece, prevents most individuals from purchase and allows
prime weeks to be sold at significant bargain prices, hurting owners associations financially.
Every MA timeshare owner needs to write to their representative requesting that
House Bill 4496 be changed to allow your resort OWNERS ASSOCIATION to have the final say on how reclaimed units are sold and or handled. If you don’t live in MA but own a timeshare in MA, write to the representative in the district where your timeshare is located as you are a taxpayer there.
If you live in MA and own timeshare property in MA, write to both your local representative and the rep in your timeshare district.
http://www.mass.gov/legis/bills/house/186/ht04pdf/ht04496.pdf