We have had a timeshare for 42 years, And the freeholder has written to us saying that he has sold the complex and we will receive an amount calculated by him based on the amount he has agreed ...Read more
We have had a timeshare for 42 years, And the freeholder has written to us saying that he has sold the complex and we will receive an amount calculated by him based on the amount he has agreed to sell it for to a private consortium less 31% for all of the dealings costs involved.
He has built up a controlling stake of unsold weeks in the complex and proposes to send us out a waiver to sign relinquishing our rights of ownership in exchange for a sum that he thinks is a fair price for our apartments.
Is this legal?