First Resorts Management
FRM are co-owners property

I bought a 8th share as co-owner, sec title, at Ithaca, Margate 25 years ago. Share was paid off after 15 years, so only left was the monthly levy. I never missed a payment in 25 years. Reasons for co-owner, levies will stay low in the long term, its an investment, more time-6 weeks/year
2 Years ago they just send us a letter to tell us that they are going to incorporate us in the time share scheme. Levies shot op 200% and we had to contribute 15000 to a fund. Instantly I was 30000 in the red. We were never consulted, informed, given alternatives or voting took place as per co-owner agreement
I apposed the forced change as I did not enter into time share. On request thy only wanted to supply half of the other co-owners contact details. These co-owners also against and very angry about this
FRM just pushed ahead and my share is no up for auction
This is a nasty way of a big company to co-owners property who they know don't have a lot of money for long costly legal battles. Co-owners worked hard and payed off their shares over a long time. Then FRM are buying up these shares for nothing so that they can make more money from time share rates

SHAME ON YOU!!!

Company: First Resorts Management
Country: South Africa
City: Margate

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