TUGBrian
Administrator
this is the actual first confirmed report (although i am sure there are others) of a resort successfully being able to remove the "self destruct" or "sunset clause" which would result in the resort ceasing function as a Timeshare at a fixed date in the future. (in this case, 2020)
I received this email from a member today and am passing it along here as a post on the forums
absolutely outstanding job by owners in accomplishing this!
I received this email from a member today and am passing it along here as a post on the forums
The Charter Club of Naples Bay had a self-destruct clause for Jan. 2020. On Dec. 7th , 2016, at the Annual board meeting there was a greater than 50% proxy vote to update the covenants from requiring a vote in 2020 to renew the timeshare to the timeshare will automatically renew every 10 years. I want to note that Diamond manages the resort and owns close to 50% of the units.
absolutely outstanding job by owners in accomplishing this!