Timeshare property might be condemned

my parents have a beach front timeshare in myrtle beach, sc area. they paid an added assessment fee for foundation stuff a yr or two ago. Sorry i don’t know the amounts or all the facts first hand. The timeshare owners have a facebook group and found out this week that the building was closed and everyone was removed from the property (probably around 100 condo units). The owners were given no additional info other than there is something being looked at and they will give an announcement when maintenance group knows more. It is an older building and i was thinking of the foundation issues with those florida beach properties. I was just wondering what happens if the building fails inspection (if that’s the case)? I guess the choices would be another assessment for fixing the foundation, demo and rebuild (have owners rebuy in?), or sell the property…land? they would probably be able to add quite a few more units if they rebuild. The people in the facebook group are now talking about maybe lawyers are needed to get the truth. any insight would be appreciated. thank you and have a good day.

i know most people would probably be glad to just wipe their hands and walk away from the property without any penalties. they used to have two properties in this building but sold one. their current unit is the penthouse (top two floors of the building) and includes a free private pier pass for the week (they enjoy pier fishing) which is connected to the property with a walkway…so their annual fee is probably 1/5 of what renting a similar place for the week would be.

update, after a few weeks the main office at the property said it was a foundation issue and they were waiting for an inspector and engineer to evaluate it… no time frame given