It's not a threat, it is how they are moving forward with this and securing payment of the special assessment or executing the deed turning over 2042 to 2057 to DVD. As others have implied, do nothing and there's the lien on your ownership. It is at the end of the first Further Resolved paragraph.
I received the legal notice of the special meeting. Included in that notice are the resolutions to be voted upon - HOWEVER - until the vote has been taken (and there is no suspense regarding the outcome), no one is "moving forward" with anything and nothing has been done - or may be done - until the owners have been legally notified of the outcome of the meeting and what the next step may be. I have not been legally notified of any action other than the meeting itself at this point and I doubt that anyone else has either. Nothing in the resolution states that if I "do nothing and there's the lien on your ownership." The Resolution does NOT state that.
My point with all of this is that we do NOT know what will be offered or what form the extension rejection paperwork will take. Several have even suggested that the issues to be voted upon at the meeting are themselves illegal - just as some suggested over a year ago when the transfer rule was restated - and yet nothing has changed that either and the concerns expressed at that time and hardly mentioned anymore.
The purpose of quoting from the POS is to provide information about what we have all signed. I have read the POS documents a number of times - my documents are dogeared and have been highlighted over the years - but I am not an attorney and would rather allow others to provide expert interpretation of the legal language used.
With all of the uproar in this thread I still think it wise to wait until we have all of the facts about what will actually be done and how it will actually be presented to us. Many are speculating and presenting a worst case scenario NOT based on fact. Even the suggestion that this is "how they are moving forward with this and securing payment of the special assessment or executing the deed" is speculative unless YOU have some other correspondence than has been sent to most others. Merely quoting the legal notice of the meeting does not explain how the program will be administered.
You neglected to quote from the first page of the correspondence dated 8/24/2007. It states:
"
... Your Association will hold a special meeting on September 24, 2007 to consider the offer to extend your Membership, and if approved, you'll be mailed everything you need to accept or decline the extension. Look for more details in the mail in late September. "
It appears that some feel it important to try to stop the meeting based on their personal interpretation of the limited details thus far and that is their right. Several on this forum have provided quotes from the legal documents to assist members in making that decision - but I'd strongly suggest having legal counsel before initiating any action against
DVC even though some have suggested that a phone call would halt any vote.
I've decided to wait until I get that correspondence to base any judgement about how declining the extension will affect me. If, at that time, my review of the
facts causes me to feel that my rights are affected in any way, I will take appropriate action. The upcoming special meeting in no way harms my ability to utilize my ownership and until I see something that changes that I'm content to wait for the actual details of the proposed changes.
If you feel your rights have already been violated by the notice of the special meeting, by all means proceed with any legal action you deem appropriate ... and please post the results.
