What is a timeshare owenr’s legal recourse regarding a development that has gone bust?
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What is a timeshare owenr’s legal recourse regarding a development that has gone bust?
We are owners in a time share in NJ. The property, originally planned to be a resort, has instead been left to degrade and become a blight in the community – unmaintained, unsanitary, and little ownership value. What are the options for filing a class action lawsuit on behalf of the timeshare owners? And what is the likelihood of success of a class action to reclaim part of the cost of purchasing this timeshare property? Are there any real estate lawyers in NJ who do this type of legal service? In Passaic County, NJ.
Asked on January 28, 2011 under Real Estate Law, New Jersey
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
An real estate litigation attorney can do this type of work as you say. Rights in a timeshare are generally seen as owownership rights in the property. So you and your spouse would have the rights as any owner to take the steps necessary to protect your investment here. Do you have all the paperwork for the original purchase of the timeshare? You will need to bring that with you to the attorney consultation. Also, ai am assuming that you have been paying your timeshare fees her as well. Bring all that paperwork and the address that you sent the payments to along with the party to whom you sent them. Your interest has been devalued. You should be compensated. Good luck to you.
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