[ 2023 ] The dissolution of Mansfield Country Resort, VIC, Australia...does anyone know how the vote went? Who voted and how did you vote?

[rickandcindy23]

We are anxiously awaiting the outcome of the vote. We received paperwork and voted to dissolve Mansfield as a timeshare. This was our first RCI Points timeshare, and so we are going to be glad to be done, and not that it was expensive to use, but I just don't want RCI Points. I have too many Wyndham points to use in RCI.

 

[SydneySurfer]

We also voted to dissolve it but I think it'll be a few years yet before anything happens.

 

[rickandcindy23]

Dear Owner(s)​ RE: EXTRAORDINARY GENERAL MEETING OUTCOME At the Lake Eildon Country Club Extraordinary Meeting held on Saturday, 15 July 2023, members voted to sell the property and wind up the club. Valid voting and proxy forms were received representing 505 member shares. The results of that vote were: Resolution 1 – Amendments to Club Constitution: 95.25% in favour. The motion was passed. Resolution 2 – Approval of Members to make VCAT applications. 94.46% in favour. The motion was passed. Resolution 3 – VCAT and other court applications – appointment of trustees, distribution and ancillary orders. 94.46% in favour. The motion was passed. Resolution 4 – Sale of Property 94.26% in favour. The motion was passed. Resolution 5 – Termination or surrender of Resort Lease. 93.66% in favour. The motion was passed. Resolution 6 – General Authorisations 94.46% in favour. The motion was passed. Resolution 7 - Application of Cash Reserves. 95.25% in favour. The motion was passed.​

As the proposed resolutions were conclusively in favour of the proposed sale of Mansfield Country Resort, we will now discuss the next stages of the process with the Club’s Solicitors and as appropriate the Trustees, including the wind-up of the timeshare scheme.​

 

[rickandcindy23]

The sooner, the better. Let's get this done!

 

[zzzme2]

The sooner, the better. Let's get this done!

The sooner, the better. Let's get this done!

Do you know how the final result with affect your interest?

My deeded timeshare is scheduled to "end" in 2025, but they sent notice that a vote may be held next year to end early.

If a unit is held by many different owners and there is no timeshare to manage, what happens to the property if it is not sold? This is most likely beyond what you would know, but I am asking just in case.

 

[rickandcindy23]

I have no idea what will happen and when. The property will likely be sold as individually owned units, and the owners will get a stipend. I don't know if it will be a fair outcome or not. But keep your fees up to date because that would be a good excuse to not give you a payment, should the property sell.

It was a remarkable vote, completely opposite of what we had at Foxrun, when owners voted to keep the property running. I don't know the property value per unit. Foxrun's property value per unit (in N. Carolina) was very low, and selling the units as whole units would not result in much to each owner. But I wanted to get rid of my maintenance fees and voted to disband Foxrun as a timeshare. I was met with fierce opposition, those who defended Foxrun as a timeshare.

 

[Carolinian]

Do you know how the final result with affect your interest?

My deeded timeshare is scheduled to "end" in 2025, but they sent notice that a vote may be held next year to end early.

If a unit is held by many different owners and there is no timeshare to manage, what happens to the property if it is not sold? This is most likely beyond what you would know, but I am asking just in case.

Since Australia uses English Common Law, it likely would be much like in the US. Each owner would have an undivided interest in the property and could have the whole of the resort sold at the courthouse door and the funds divided. That is what happened with Bodie Island Beach Club on the OBX when some cutthroats started buying up offseason weeks and did a deal with owners of the whole ownership units who also had votes in the HOA.

 

[zzzme2]

Not sure I understand.

So those shady characters bought up the offseason weeks for the purpose of forcing the sale of the whole resort?

 

[rickandcindy23]

Not sure I understand.

So those shady characters bought up the offseason weeks for the purpose of forcing the sale of the whole resort?

What shady owners are you talking about?

Still no news about this. Our fees will be due again this summer, so I am hoping they say not to pay this year, so we can see an end to this ownership. This would be an easy way out.

 

[rickandcindy23]

Another couple of years and still no answer on the dissolution of Mansfield Country Resort.

I am looking forward to ending my RCI Points' membership. I am tired of RCI Points, just generally.