Cohousing-L Mailing List: Estate Planning, Note to heirs

[susanfries613 (susanfries613]

From: PDX Commons:  Here’s a document some of our members have used to help 
their heirs understand what our cohousing community is about before selling it.

Susan Fries 

PDX Commons

 

Notes on

Advisory Instructions to Executor/Heirs/Trustee on the Sale of my/our PDX 
Commons Home

 

Recognizing that many, if not all of us, are subject to unpredictable 
mortality, it seemed like a good plan to offer instructions to our heirs to 
assist them in selling our PDXC Commons Condominiums, given that we have 
expectations about “the good of the community” that make this more than just 
another real estate deal.

What follows is one possible avenue – written advance instructions to heirs – 
in order to help them navigate the sale of our homes should we be unable to 
assist with that process.

This is NOT A LEGAL DOCUMENT – advisory, but not legally binding.  It simply 
gives instructions on what to do, who to approach for help, how to avoid 
problems, how to make decisions that further the community.

The idea is that we can (as we wish) use/edit/modify these instructions to come 
up with something that works for you and your heirs.  Although some of us think 
doing this is an excellent idea that protects the community, not everyone may 
appreciate this kind of written instructions as a tool to assist our heirs.  It 
is NOT MANDATORY to use it or anything like it.

Do consider, though, whether these advisory instructions might be helpful to 
those who survive you.  Consider editing it to your personal satisfaction and 
running it by them to see what they think.  It if works, store a copy with your 
important documents (especially those relevant after your death, like your 
estate plan or will) and give one to whoever will execute your estate upon your 
death.

Like an Advance Directive for healthcare, these instructions will be much more 
effective if discussed in person – out loud with actual spoken words – while 
you are still able to do so before storing written copies in your files.

 

 

 

Advisory Instructions to Executor/Heirs/Trustee on the Sale of my/our PDX 
Commons Home

I/I/we are writing this set of instructions so that you know how I/we would 
like you to sell my/our PDX Commons home after my/our death.  While the 
condominium is real estate and sold as such, it is also so much more than just 
a piece of real estate, and I/we have wishes that I/we hope you will respect as 
you proceed to sell it.

1)            First and foremost, PDX Commons is an intentional cohousing 
community – I/we choose to live together, make decisions together, play and 
work together, eat together.  I/we are important to each other, and it matters 
who joins the community. My/our greatest value is that the buyer(s) of my/our 
home is someone who understands what it means to live in intentional community 
and is able and willing to offer energy and skills to the PDXC community. 
My/Our primary wish is that the good of the community comes first in a sales 
decision.

 

2)            PDX Commons has a process for re-selling my/our homes and I/we 
ask that you respect it.  There are people within the community who can assist 
you in understanding and following the process (see specific names below) and 
you will find, attached to these instructions, a simple graphic that explains 
it.  I/we suggest that you consult with these advisors within the community for 
assistance in securing an appraisal in order to set an optimal asking price for 
the condominium. 

 

3)            If at all possible, please try to sell the condominium within the 
PDX community (current residents and Wait Lists). Importantly, you should know 
that PDX Commons HOA has the right of first offer, after which the right of 
offer is opened to current residents of PDX Commons, followed by the Priority 
Wait List and Wait List.  It’s up to you to choose what offer you accept, but 
again, I/we urge you to find a buyer who both will offer a fair price and 
strongly desires to become an integral part of this intentional community.

 

NOTE:  If the condominium is sold through the PDX Commons community (residents 
or Wait List) and no real estate agent is required, I/we request that you offer 
back to the HOA 1%-2% of the selling price to compensate the community for 
finding a buyer.

 

4)            If it becomes necessary to open the sale to the public (no 
reasonable offers from within the community or Wait Lists), please consult with 
the advisors I/we have suggested to help you find a suitable buyer.  They will 
have ideas about how to promote the sale within the national cohousing 
community.

 

5)            Any potential buyer who is not already very familiar with PDX 
Commons will be asked to participate in a thorough orientation to the community 
(which will be arranged through the Outreach Committee), including reviewing 
community policies and agreements, to ensure complete understanding of the 
benefits/responsibilities of living in PDX Commons.  

 

6)            Note that PDX Commons is a 55+ community, which means that at 
least 80% of my/our homes must have one or more occupants who 55 year or over.  
That is the demographic you are seeking, though it could be possible to sell to 
someone under 55 – check with my/our PDX Commons advisors.

PDX Commons has been such an important and meaningful part of my/our lives – 
I/we want it to continue to flourish in the decades to come.  Intentional 
community only thrives if its members are invested in making it work.  In order 
to maintain that investment, my/our ask is that you do your best to make sure 
that current members of the community have priority in this sale and that any 
new members of PDX Commons – whoever may buy my/our home from outside of the 
community – are ready to jump in and become an active part of the community 
with all due diligence done prior to the sale.

People at PDX Commons willing to assist/advise you as you proceed with this 
sale:

____________________________________________________________________________

____________________________________________________________________________

____________________________________________________________________________

THANK YOU for your help in following my/our wishes!  I/we are sorry not to be 
there to help out.

_____________________________________                 
_________________________________

                               Signature                                        
                                                          Signature

 

________________________                                                        
   _____________________

                Date                                                            
                                                          Date

 

 

 

 

 

Other issues to consider:

•             Sell the unit and parking space together for best value and a 
quicker sale (probably – may be exceptions). 

•             Be sure to pay monthly utility bills and HOA dues during the sale 
period. If HOA dues are not paid, a lien will be filed and the estate will end 
up accruing attorney’s fees and other additional costs to resolve the problem.  
My/our advisors (above) will tell you how to pay the HOA dues, or continue 
automatic payment via: __________________________________________________

The electric bill comes from PGE – acct. #: _____________________

The natural gas bill comes from Northwest Natural – acct. #: 
____________________________

Condominium is insured by 
_______________________________________________________

______________________________________________________________________________

 

Other Notes: