LARGO, Fla.--(BUSINESS WIRE)--A class-action lawsuit has been filed against the New Jersey-based owners of FantaSea Resorts alleging that the resorts engaged in unfair debt collections practices during the sale of timeshares when they required buyers to execute deeds-in-lieu of foreclosure contemporaneously with the purchase of timeshare interests.
The suit, Tirri, et al. v. Flagship Resort Development Corp. d/b/a FantaSea Resorts, Docket No. WRN-L-53-16 was filed Feb. 11, 2016, in the Superior Court of New Jersey, Warren County, by Finn Law Group’s New Jersey co-counsel, DiSabato & Bouckenooghe LLC.
The plaintiffs, who are New Jersey residents, purchased Floating Week Interval Interests in the Flagship property, the LaSammana property or the Atlantic Palace property. All three properties are located in New Jersey and are owned by the defendants and collectively doing business as FantaSea Resorts.
The plaintiffs allege that by requiring the timeshare purchasers to execute the deeds-in-lieu of foreclosure at the same time as the sales transaction, FantaSea engaged in fraudulent practices and that the buyers were deprived of their statutory rights under New Jersey foreclosure law.
The plaintiffs also allege that the resort violated New Jersey consumer laws when FantaSea sent delinquency and foreclosure notices to the owners but failed to include information that explained the amount needed to cure the default, the amount due owed or the opportunity to cure.
The plaintiffs have asked the Court to certify a class consisting of individuals who were required to execute deeds-in-lieu of foreclosure contemporaneously with the purchase of the timeshare from FantaSea. The suit seeks actual damages, punitive damages, treble damages and attorney fees under New Jersey law.
Michael D. Finn, managing member of Finn Law Group representing the plaintiff and the potential class, stated, "Requiring owners of new timeshare interests also to execute a deed in lieu of foreclosure is a bit like having a divorce attorney draw up a divorce decree when getting a marriage license. It is inappropriate and stacks the deck in favor of the developer."
The Finn Law Group, based in Florida, represents consumers in timeshare and related real estate matters. For more information, contact Michael D. Finn by calling 855-346-6529 or michaeldfinn@finnlawgroup.com.