Non Profit - Shared Property Questions? Experiences?
Please let me know your experiences if/when you have them.
Let's say my property is on a lake. Let's say the lake is run by a Home Owners Association (which is legally non profit). Let's now say that one of the 'big boys' wants to lease under our 'community' lake. This is shared property (hence the HOA).
We have a lawyer negotiating with bids and such (amazing how hard one will work to get best deal working on comission).
Being a Non-Profit organization, well ...that pretty much says it all. I'm 100% positive that our lawyer (and the 'Driller') will find a way to make us ALL happy, but I would like to know what sort of stories/info/experience others have had dealing with a similar scenerio.
(I do have my own ideas about this ...as in a board of directors - salaries - etc)
Dissolve the Non-Profit and create a LLC?
Let's say my property is on a lake. Let's say the lake is run by a Home Owners Association (which is legally non profit). Let's now say that one of the 'big boys' wants to lease under our 'community' lake. This is shared property (hence the HOA).
We have a lawyer negotiating with bids and such (amazing how hard one will work to get best deal working on comission).
Being a Non-Profit organization, well ...that pretty much says it all. I'm 100% positive that our lawyer (and the 'Driller') will find a way to make us ALL happy, but I would like to know what sort of stories/info/experience others have had dealing with a similar scenerio.
(I do have my own ideas about this ...as in a board of directors - salaries - etc)
Dissolve the Non-Profit and create a LLC?
Tags: Desoto, HOA, Non-Profit, land, law, shared
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