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Birchwood, unlike many "equity" share clubs, initially required property purchase for membership. There were varying lots of different sizes, some "buildable" others merely membership lots; prices were set accordingly. The problem the is that the club experienced some questionable financial decisions by board and management that resulted in property values plummeting - to the point of being worthless. What the club chose to do to compensate for the downfall was implement bylaws that forced members, at the time they cared to resign their memberships, to pay a $15,000 buyout fee. And, additionally, should the family member who originally joined not buy their way out, upon their death the membership passed on to their family. Not an enticing way for a club to go about its business. Member Beware, and read the bylaws fine print

Birchwood, unlike many "equity" share clubs, initially required property purchase for membership. There were varying lots of different sizes, some "buildable" others merely membership lots; prices were set accordingly. The problem the is that the club experienced some questionable financial decisions by board and management that resulted in property values plummeting - to the point of being worthless. What the club chose to do to compensate for the downfall was implement bylaws that forced members, at the time they cared to resign their memberships, to pay a $15,000 buyout fee. And, additionally, should the family member who originally joined not buy their way out, upon their death the membership passed on to their family. Not an enticing way for a club to go about its business. Member Beware, and read the bylaws fine print

Birchwood initially required property purchase for membership. There were varying lots of different sizes, some “buildable” others merely membership lots; prices were set accordingly. The problem is the club had a decade of poor financial decisions by the management and board of directors that resulted in property values plummeting - to the point of being worthless. What the club chose to do to compensate for the downfall was implement bylaws that forced members, at the time they cared to resign their memberships, to pay a $15,000 buyout fee. And, additionally, should the family member who originally joined not buy their way out, upon their death the membership passed on to their family. Member beware and read the fine print

Birchwood, unlike many "equity" share clubs, initially required property purchase for membership. There were varying lots of different sizes, some "buildable" others merely membership lots; prices were set accordingly. The problem the is that the club experienced some questionable financial decisions by board and management that resulted in property values plummeting - to the point of being worthless. What the club chose to do to compensate for the downfall was implement bylaws that forced members, at the time they cared to resign their memberships, to pay a $15,000 buyout fee. And, additionally, should the family member who originally joined not buy their way out, upon their death the membership passed on to their family. Not an enticing way for a club to go about its business. Member Beware, and read the bylaws fine print

Birchwood initially required property purchase for membership. There were varying lots of different sizes, some “buildable” others merely membership lots; prices were set accordingly.. The problem was the club had a decade of poor financial decisions by the management and board of directors that resulted in property values plummeting - to the point of being worthless. What the club chose to do to compensate for the downfall was implement bylaws that forced members, at the time they cared to resign their memberships, to pay a $15,000 buyout fee. And, additionally, should the family member who originally joined not buy their way out, upon their death the membership passed on to their family. A cautionary tale, beware member