Membership Transfer Policy
Policy for Transfer of Member Homes at Time of Sale & Prorating for New Members
1)

In the event that a home owned by a Full Member of the Studdiford Property Owners' Association (FM) is sold.

Membership Chairperson sends a letter to closing attorneys verifying that Dues have been paid in full through December of that year, and at the closing the Buyers write a check to Sellers for the annual Dues prorated for the remaining months of the membership year. This is a legal transaction entirely between Buyer and Seller at the closing that is managed in the same way as Property Taxes.

2)

In the event that a home owned by an Associate Member of the Studdiford Property Owners' Association (AM) is sold.

The Membership Chairperson sends a letter to closing attorneys verifying that Dues have been paid in full through December of that year by the Seller at a "grandfathered" rate of 1/4th of Full Membership (currently $175.00). Associate Membership  existed only for homeowners who joined the Association prior to October 15, 2000 and chose not to be Full Members at that time.

The seller is responsible for paying the Associate Member dues for the calendar year in which the sale is completed.
The buyer is responsible for paying the difference between Associate Member dues and Full Member dues.

3)

In the event that a home owned by an Associate Member (AM) upgrades to Full Membership (FM).

When an AM chooses to upgrade to FM, the Full Member Dues will be calculated based on which month the change is initiated as follows:

During January through June, the AM would pay 100% of the FM Dues minus what was already paid in AM Dues. (Current FM Dues are $700 and AM Dues are $175.00, so an AM upgrading in May would pay $525.00)

During the month of July, the AM would pay 80% of the FM Dues minus what was already paid in AM Dues. (Current FM Dues are $700; 80% of $575 is $560; and AM Dues already paid would be $175, so an AM upgrading in July would pay $385).

During the month of August and any time thereafter, the AM would pay 60% of the FM Dues minus what was already paid in AM Dues. (Current FM Dues are $700; 60% of $700 is $420; and AM Dues already paid would be $175, so an AM upgrading in August through December would pay $245).

4)

In the event that a home owned by an Outside Studdiford Swim & Tennis Club Member (OM) is sold.

All Dues are non-refundable.  Membership is transferable.

We will clearly state the following in all Outside Member solicitation materials:

"All fees are nonrefundable." AND "Memberships are transferable to Buyers/New Owners of enrolled properties." Outside Members have the option of negotiating the transfer of their property to the Buyer in an effort to recoup paid Dues. Studdiford Swim & Tennis Club will provide a Transfer of Membership/Enrollment Form that must be completed by the Buyer and signed by the Seller authorizing the transfer.

5)

In the event that families from Woodfall or other non-Studdiford neighborhoods ("Outside Member", or OM) want to join mid-year, the fees are calculated as follows:

From January through June, the OM dues are $700.00 for the calendar year (equivalent to Full Member dues).

During the month of July, the OM dues are $616.00 for the calendar year.

From August through December, the OM dues are $462.00 for the calendar year.


Note:  Outside memberships run from January 1 to December 31 of a calendar year.  Per Diem prorated refunds will be granted when requested in writing before May 31; after this date, no refunds will be granted.