New ownership of the Manhatten Club

What does this mean for the current owners? Will this be a good thing or is this going to make things workse?

I am looking for an update on this issue! Does anyone have the latest info?

Hi Sue,

There are some updates, none really benefiting us, but you can go to the forum titled Manhattan Club Lawsuit to read about the latest information. Many of us are frustrated with the tone of the discussions and have suggested starting a new forum. This site looks like the right place to start over and post pertinent information.

Thanks for the tip, Lena! There have been some owners talking about a "deed in lieu" exit strategy. I'd be wary that even after you give up the deed, "forgiveness" will arrive in the mail next spring as a tax bill. Deed in lieu usually creates a tax "consequence." I won't say liability because it depends on individual situations, but for most people, it's not a desirable outcome. If you get offered this option, consult a tax professional before making any move.

My husband and I have been owners since 2005, with a bi-annual split week. We were either lied to, or misunderstood, the terms of our contract (which we did not receive until several weeks afterwards, thereby negating the 7 day cancellation rule), as we have never been able to directly call The Manhattan Club (TMC) for a reservation. We were astonished to learn that we must instead call RCI to reserve our own home resort!

Since we have to pay the annual RCI membership fee, we have chosen to use the points to vacation in other locations. Over the years, we have gone to New Orleans, Las Vegas, Hilton Head, Myrtle Beach, Palm Beach, Vero Beach and Orlando, all at very nice Gold Crown resorts. While we aren't happy with the steep rise in TMC annual maintenance dues, we console ourselves that at least we are getting nice vacations. Our biggest concern, as we get older, is how to make sure our children aren't saddled with these fees, so we are thinking of willing the deed back to TMC upon our death. Of course, we'll check with our lawyer to see if this is legal.

Hi Lena, I think checking with your lawyer is always a must if you are considering making a change to your will. Personally, I would wait until the new management shows its intentions before making any decisions. Because if you don't owe any maintenance fees, you are reasonably satisfied with the use you are now receiving, can afford to pay the fees and are not concerned with the potential value of the ownership, why not wait and see? But that's why you pay a lawyer! Good luck!