selling or leasing an equity membership
Selling Equity Share
There are two ways to sell an equity membership. The first option is to place your membership for sale with the Club and the director of membership will attempt to locate a buyer for you. The second option is by private sale wherein the member finds a buyer. The director of membership (email@example.com) requires notification when the sale has been made so that annual dues invoicing may be properly directed and a Transfer of Membership form is submitted to the new buyer (this includes a $250 non-refundable transfer fee which is paid by the buyer in a private sale, not the existing equity member- seller). If you sell your membership either via SHBR or Private sale (aka Transfer), the seller is charged a $50 admin fee. And if SHBR sells your equity shares we will send the seller a check for the value of the shares (current value $750) minus the $50.00 admin fee noted above. If SHBR is unable to find a buyer, and if you would like, SHBR will attempt to lease your membership for the season. There is a $125 processing fee to have SHBR find a buyer or a lessee for your share. If there is not a current waiting list for equity memberships, we would be happy to put your name on a Seller’s List for when interested buyers inquire about membership (buyers are matched to sellers on a first come first served basis). That being said, as an equity member, you will be responsible for payment of annual dues until your membership is sold. If you are uncertain about future plans and whether to permanently sell your membership, you may want to consider leasing your equity share instead of selling it. To do so, please contact the director of membership to make arrangements. The Seller should notify the director of membership of intent to sell prior to March 1.
Leasing Out Equity Memberships
As an equity member of SHBR, annual dues must be paid every year by March 1 until such time as you decide to sell your equity membership. However, you have the opportunity to lease your your equity membership through SHBR, which will attempt to do so on your behalf for a $125 processing fee. If there are no interested lessees, the equity owner is responsible for the annual dues payment. Notification must be made to the director of membership (firstname.lastname@example.org) regarding your intentions to have the Club lease your membership prior to March 1.