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Name:
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John C
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Subject:
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here is the limit of my understanding on this...
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Date:
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11/5/2010 6:20:44 PM
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Yes I am familiar. Anyone interested can go to the below website and search by name or Entity number 570 - 687.
Steve Forehand (listed on the application) is the Secretary of Russell Lands and an attorney. And a nice guy, I might add. If anyone has any questions I would advise to call him up and ask him, he would be the best source of accurate information.
Disclaimer: I'm not an attorney nor a landowner in the affected area nor a Russell Lands employee. I am just an independent real estate agent. Again, for the best source of information, call Steve Forehand.
I too have had some closings that this affected. From my limited understanding, and based on my limited memory, at the time we closed these sales, this only affected Russell Lands developments, only certain developments, and only in certain time frames were sales affected. For example, I sold a home in Windermere where the seller did not have to pay anything to the organization (I think they bought earlier so the seller did not have to pay anything), but we had to disclose to the buyer that at the time they eventually sold, this fee would apply. If memory serves, it was a range of % of the sales price, and they reserved the right to waive it on any individual sale if they felt like it. What one seller could do to merit their largess over another seller, I have no idea. The funds were to be used to upkeep the Russell Forest amenities.
The way I read it, if you're not in a Russell Lands development, it shouldn't affect you at all.
Again, anyone reading this with more accurate info, please post and help us all out. If you are a reader and still have questions, please call Steve Forehand at Russell Lands.
URL: Alabama Sec of State Corporate Records Search
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