Sunscape Estates RV Park Cooperative
Board of Directors Policy
Date of Origin: March 18, 2010
Subject: Lot/Membership Transfer
This policy is to clarify the existing process of selling or transferring a park lot/share.
1. The Lot is put on the market by the leaseholder.
2. The first step is the seller needs to get the Intent to Sell (Attachment A) and Right of First Refusal (Attachment B) forms from the Welcome Center.
a. Fill out the required information on both forms.
b. Sign and date the forms.
c. Return the forms to the Welcome Center.
d. Copies are given by the Welcome Center staff to the Park Manager, Board Secretary and Architecture Committee.
3. Once the forms are submitted, the following steps will take place before the lot is clear to transfer:
a. The Architecture Committee receives the forms.
b. A presale lot inspection/measurement of the lot is done.
c. Violations, if any, are noted on the Inspection Form (Attachment C).
d. A computer copy of the inspection is returned to the Park Manager.
e. The Manager visits the lot and inspects the violations and informs the seller what needs to be corrected to allow the sale to go through.
f. When the violations are corrected, the Manager signs the Inspection Form.
g. The Inspection Form with the attached Intent to Sell and Right of First Refusal forms are given to the Board Secretary.
h. The Secretary signs the Right of First Refusal form.
4. When the seller accepts an offer the Board Secretary checks with the Bookkeeper to make sure there are no outstanding debts against the lot. Debts against the lot must be paid before the transfer is made. If there are outstanding debts, both parties are notified and the seller must resolve to proceed with the transfer.
5. When there are no outstanding debts and the lot is paid for, the transfer is ready to take place.
a. The seller makes an appointment with the Secretary and the buyer to transfer the lot.
b. The seller initials the Inspection Form.
c. The seller signs the back of the original Share Certificate to transfer to the buyer.
d. The buyer then signs the old Share Certificate on the indicated line.
e. The $100 Transfer Fee is paid by the buyer.
f. The buyer(s) signs the Inspection Form, witnessed by the Board Secretary.
g. The buyer(s) receive the current copies of The Bylaws, Park Rules and Regulations and Architectural Rules.
h. The buyer(s) signs the Rules Agreement form (Attachment D) stating he/she will abide by the rules of these documents.
i. The Member Information (Attachment E) sheet is completed.
j. The Proprietary Lease is completed and signed by all parties listed on the Share Certificate.
k. The new Share Certificate is completed and the seal applied.
6. Copies of the transfer paperwork are made by the Welcome Center staff.
a. Member information copies are given to the Welcome Center, Mail Room, and Bookkeeper.
b. The transfer fee is given to the Bookkeeper who then writes a receipt for the buyer.
c. The buyer receives a copy of the Proprietary Lease, the Rules Agreement, Share Certificate and any other paperwork pertinent to the transfer.
d. The transfer of the Share/Lot is now complete. It is the responsibility of the buyer and seller to transfer the title to a park model or RV that is included in the purchase. This transfer is done at a local Department of Motor Vehicles.
7. The Ambassadors are notified in writing, either by email or message in their mailbox, of the new park member. They will visit the new buyer(s) and give them a 3 ring binder for all the lot information plus information of park and points of area interest.
Approved by______________________________________ Date__________For the Board of Directors, President: Jean Aili
Interim approval:___________________________________ Date___________
For the Board of Directors, President: Jean Aili