Cohousing-L Mailing List: Membership Buyout

[MicalCedar (MicalCedar]

Hello,

This is my first posting on the List and I hope it goes to the right place.

Greetings from the Olympia Cohousing Association in Olympia Washington. We a
an 18 month old oranization that is currently going through the process of
incorporating as a LLC (our third organizing agreement). The question has
come up in regards to membership buyouts. We know that Puget Ridge and others
have a system were old members who are dropping out must wait until the last
unit of their type is sold before they can be cashed out. In our meeting
today, some members expressed an interest in a system whereby a member who
wants to sell out can sell their equity directly to an Associate Member,
regardless of how many unsold units there may be. 

Has anybody out their tried that route? We would be interested in hearing
about your experiance and/or coutionary tale.  

Thank you........Michael MacSems OCA