Sell or Lease Your Membership Share?
Option 1. Selling your Certificate of Membership share:
Email our Membership Chair ([email protected]), your Certificate of Membership will be added to the list of Certificates to be sold. Annual dues payments are payable by each Shareholder until such time as their Certificate of Membership is sold. Once your share has sold you will be refunded for certificate of share minus any owed dues or fees.
Option 2. Leasing to another:
While you’re waiting for your Certificate of Membership to be sold, you can also request that your Certificate be placed on the list to lease for the season. What this means is that you (the Shareholder) will not pay annual dues for the current year your share is being leased out, instead the person leasing your certificate will be taking on that responsibility for the year that they are leasing. Your share will be used/leased for one year then placed back on the list to possibly lease or sell the next year.
Option 3. Private Sale:
You can choose to sell your Certificate of Membership privately to a person wishing to join MHC as a full Shareholder, the price set is between you and the buyer. The purchaser would be responsible to pay the $50 Transfer fee, Annual dues (if not already paid), and processing fee.
In order to be eligible to sell or lease your share under Option’s 1, 2, or 3 below your Membership Share must be in good standing. Our bylaws indicate that In Good Standing is a condition enjoyed by a Member who has paid all dues and special payments, as required. Being a shareholder of MHC, annual dues payments are payable by each Shareholder until such time as their Certificate of Membership is sold.
WHAT STOPS A SHARE FROM BEING SOLD BY MCH OR IN A PRIVATE SALE:
A Certificate of Membership cannot be sold by MHC or privately by a Shareholder if that Shareholders account is considered ‘not in good standing’, meaning there are any open invoices on their account. If Annual Dues have not been paid on the account or there are any outstanding balance(s) owed, the sale cannot take place, and all online transfers for private sales of certificates would not be denied if applied for online.
Please let us know as early as possible that you wish to sell or lease your share. The sooner we are notified, the sooner we can pair you up with a purchaser. The best time to do this is at the end of the season. Do not wait until March 15th when the Annual Dues are due! Dues will continue to be the responsibility of the shareholder to pay.
Have you purchased a share directly from a MHC Shareholder?
There is a $50 transfer fee and a required online Shareholder membership form for you to fill out.
All applications must be filled out online. If for some reason you cannot use our online Shareholder membership process, please download the MHC Membership Transfer Application form. It may be mailed to P.O. Box 30, Mt Vernon, VA 22121 with the required fees in the form of a check made out to Mansion House Club.
