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Suite Owner Sales

Owners may sell their own units or may use a professional third party to sell their unit.
 
Owners of the Fractional Interests of the Marsh Harbour Inn are required by the Covenants to make certain disclosures before selling their interests in the MHI to outsiders
 
The MHI HOA Communication Policy requires that all official HOA communication to owners be sent through the HOA Secretary using the official database of HOA owners. Owners that do not follow the MHI Communication Policy on the sale of a Fractional Interest may risk the sale of that interest being void.
 
Section 4.05 of the Covenants requires the following:
“(a) if any Owner desires to sell his fractional interest, such Owner (the selling Owner) shall first submit a written offer to sell his Fractional Interest to every other Owner and the Declarant [Developer].”
“Such written offer (the Sale Offer) shall contain such purchase price, terms and conditions as the Selling Owner may specify.”
 
Each Owner and the Declarant shall have fifteen (15) days after receipt of the Sale Offer (or eighteen (18) days if the Sale Offer is delivered by mail in which case the postmark shall be deemed the date of receipt) to accept the Sale Offer by written notice to the Selling Owner. 
 
Section 4.06 requires Notification of Sale or Transfer of Fractional Interest:
“Not later than ten (10) days after the effective date of any transfer or other conveyance of a Fractional Interest to a new Owner (including the Declarant) either the transferor or the transferee shall notify the Association [MHI Homeowners Association] in writing of such sale, transfer or other conveyance.”
 
“Unless and until notice is given, neither the Association nor the Management Firm shall be required to recognize the transferee for any purpose, the transferee shall not be entitled to enjoy the privileges of membership in the Association, and any and all communications and notices required or permitted to be given by the Association or Management Firm relative to such Fractional Interest shall be deemed to have been made and given to the transferee if timely made and given to the transferor.” 
 
 

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