Timeshare Law: Raintree Timeshare Owners Win Class Action Lawsuit
Everyday we hear stories on how a timeshare took advantage or tourists who were invited to a timeshare presentation. Raintree owners united and won a class action lawsuit. Read a story full of hope and justice!
Timeshare Law- The Facts
In the fall of 2009 Raintree announced that special assessment fees were going to be collected in order to improve internet access and other amenities in Raintree resorts. But instead of giving time to owners to pay for the fees, Raintree demanded immediately payments and owners had to pay for it at once and those who didn´t where obligated to pay a fine.
The so called "Special Assessment" varied depending on the type of membership timeshare owners had. But essentially, it was the same cost as the normal maintenance fees so owners in 2010 had to pay twice the amount of the normal annual due. This provoked that not all members had sufficient funds to pay immediately the monies Raintree was requesting and putting at risk their credit score.
This actions generated that some members filed a CLASS ACTION LAW SUIT against RAINTREE VACATION CLUB. The law suit was filed by 11 California timeshare residents who had a timeshare with RAINTREE CLUB (Hawaii) and were obligated to pay for the special assessment immediately between October and November of 2009.
These otherwise minded members presented the law suit in June 2010 and it was until November of 2011 that it was accepted as a CLASS ACTION LAW SUIT and then, RAINTREE had to come to an agreement with the plaintiffs.
According timeshare law, on March 13th of 2012, The court published its Final CLASS ACTION LAW Settlement Approval Orden And Judgment by adopting the proposed establishment and ruled in favor of the members of RAINTREE VACATION CLUB.
Here we present a summary of the resolution of the CLASS ACTION LAW SUIT:
• “Any unpaid amounts due on the Special Assessment and regular annual Club maintenance fees for 2010 and 2011, plus any interest and penalties, if applicable, will be waived and not collected or pursued for collection, upon a Settlement Class member’s payment of his or her 2012 maintenance fees.
• Settlement Class members who paid the Special Assessment and/or paid 2010 or 2011 maintenance fees during a period when they were prevented from booking reservations because of the Special Assessment will receive “Supplemental Points” that they may use to book additional reservations at Club resorts to compensate them for such payments. Supplemental Points will be allocated to eligible members of the Settlement Class based on each member’s 2010 Club Points (or weeks) allotment as follows, depending on the payments each member has made:
Payment(s) Made by Member Supplemental Points Allocation
1. Paid both the Special Assessment and Maintenance Fees for both 2010 and 2011 1. Will receive Supplemental Points equal to Member’s 2010 Points
2. Paid the Special Assessment, but did not pay Maintenance Fees for both 2010 and 2011 2. Will receive Supplemental Points equal to Member’s 2010 Points
3. Paid Maintenance Fees for either (but not both) 2010 or 2011, but did not pay the Special Assessment 3. Will receive Supplemental Points equal to Member’s 2010 Points
4. Paid Maintenance Fees for either (but not both) 2010 or 2011, plus the Special Assessment 4. Will receive Supplemental Points equal to 2x Member’s 2010 Points
5. Paid Maintenance Fees for both 2010 and 2011, but did not pay the Special Assessment 5. Will receive Supplemental Points equal to 2x Member’s 2010 Points
Members of the Settlement Class who paid nothing toward the Special Assessment and paid nothing toward 2010 and 2011 Maintenance Fees will not receive any Supplemental Points.
• The Defendants will provide a detailed description of the actual uses of funds collected through the Special Assessment and will provide annual, independently audited financial information to Club members describing Club operation expenses, the fees charged to Club members and the uses of the fees collected.
• No fees charged to Club members will increase because of the settlement.
Under the Settlement Agreement and Release, in exchange for the benefits provided, Defendants, Plaintiffs, Settlement Class members and the attorneys in the lawsuit agreed to mutually release each other from all claims that were asserted in the lawsuit, arise from the lawsuit or arise from the Special Assessment. The parties to the Settlement Agreement expressly agreed that this release does not extend to any future Special Assessment or any future alleged wrongdoing by the Defendants.”
At Mexican Timeshare Solutions we strive to give back freedom to people who purchased timeshare under the wrong reasons such as the financial investment spiel. Call us for a free consultation on how we can help you cancel your timeshare contract. Remember, our service is risk free as we work based on results so you do not waste any money paid up front.
If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?
- Share this link http://www.timesharescam.com/blog/85-timeshare-law/ on your favorite blogs and forums
Leave your comment below and share your opinion with us. To know more about timeshare scams go to: how to sell a timeshare: useful tips