It might help us to understand your situation if you simply post a copy of the notification you got. Feel free to redact your private identifying information for your own security. When similar situations have come up, as others have stated, it isn't much of a surprise, and the termination of a property as a timeshare generally results in owners of intervals there receiving an apportioned share of the sales proceeds.
Jim
Just to provide more information. This is the email we received notifying us of the decision to sell. As I said before we received a previous email with the choice and a request to vote.
A Letter from Your Board of Directors to all Members of the San Diego Country Estates Timeshare Owners Association
The Future of The Good Life Resort
On March 14th, 2025, your Board of Directors met for the regularly scheduled quarterly Board meeting. We also reviewed the results of the Survey on Owner preferences between the only two viable options for the future of the resort.
We received survey responses from 25.7% of all Owners, who hold 31.2% of the total owned timeshare intervals or 36.7% of the intervals in Good Standing.
The results showed that 84.5% of Owner responses, representing 85.5% of the total owned intervals, chose Option #1 – to dissolve the Association and sell all the resort property.
Although the Board initially intended to keep the survey open longer, we have determined that any additional responses are highly unlikely to impact the overwhelming results received so far.
Accordingly, your Board of Directors unanimously adopted the motion:
Moved that the Board of Directors engage Grand Pacific Resorts for Dissolution Services and to organize an Owner vote to dissolve the Declaration of CC&Rs of the Association, according to Section 8.4 of the Declaration, subject to further legal advice by our Attorney. And further that the Board appoint Pat Hanna, Board President, to be the primary point of contact on this matter with Grand Pacific Resorts.
We recognize that our Owners will have many questions about what comes next, including how long the resort will remain open, the requirements for ongoing maintenance fee payments, and the next steps in the process. We have begun addressing these issues, along with other matters related to the dissolution process, in consultation with Grand Pacific Resorts and your Association’s new HOA attorney in San Diego.
Your Association will be incurring significant new costs to implement the dissolution and collect back all the outstanding owned timeshare intervals. These costs were both anticipated and included in the forecast of an eventual payout of between
$5000 and
$10,000 per owned timeshare interval (less any individual arrears outstanding).
Although we have secured additional interim financing for the dissolution project, this financing comes at a cost, reducing the eventual payout for all participating Owners. As a result, Owners who wish to fully participate in the final payout will be expected to continue paying their quarterly maintenance fees until a cutoff date, which has yet to be determined.
We also want to inform you of our plan to generate additional revenue by expanding the availability of longer-term rentals for resort suites. This initiative will primarily target temporary employee relocation housing and temporary project workforce housing, both of which require furnished accommodations but involve lower housekeeping efforts and costs compared to short-term rentals. To minimize disruptions for timeshare owners and short-term vacation rental guests, we will strive to allocate longer-term rentals to specific buildings.
The next major step in the dissolution process will be a legally required vote, which must receive approval from 75% of the “voting rights” in the Association. While our governing documents define “voting rights,” we intend to seek a legal opinion to clarify which timeshare intervals are eligible to vote. This includes determining the voting rights of intervals held in the Association’s inventory and those considered to be in arrears. Preparing for this vote will take time, and we will provide further updates as the process progresses. Currently, we anticipate being ready to hold the vote no earlier than September 2025.
Your Board of Directors thanks you for participating in the survey and we are committed to providing additional information and answers to frequently asked questions as decisions are made throughout the dissolution process.
Comments and Questions:
Your comments and questions are always welcome. To ensure all Board Members receive your messages, we have implemented a new email address that automatically distributes messages to the entire Board. [I deleted the email address]
