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

[Main Email (zabaldo]

Susan and all…

This is priceless. I am going to forward it to our community. We have had 
several sales at Takoma Village that have taken place after the passing of one 
of our members.

Our resale and rental pod has been instrumental in helping the heirs with the 
sale of the home. We are well aware that with no instructions, the heirs are 
left wondering what to do. And if they are not connected with the community in 
any way, they lack information on how to proceed. 

This is so very helpful. Thank you for sharing this document.

Ann Zabaldo.
Takoma Village Cohousing
Washington DC.

Sent from my iPhone
All tiipos ... curtesy of Siri  :-)

> On Feb 21, 2023, at 8:31 AM, susanfries613 [at] gmail.com wrote:
> 
> 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:
> 
> _________________________________________________________________
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