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| Name: |
TheAuthor
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| Subject: |
Russell Forest Preservation Organization?
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Date:
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11/4/2010 2:14:46 PM
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Does anyone know anything about this organization? It is listed with the Secretary of State, and was created last year by an employee of Russell Lands. What is odd about it is that I have a couple of friends who have recently had real estate transactions and have been notified that they will have to pay 3/4 of a point of the sale price to this organization (about $350 for one friend, over $500 for the other). Neither of those transactions involved Russell Lands, RFPO, or any Rusell company, nor are the properties in a designated forest. This is the first either of these friends have heard of RFPO, and they have both owned property here for 8 to 10 years.
What land is included in this forest, what are these fees going to, and who is on the Board of Directors?
Is this an "end-around" for Lake City? Another "convenience fee" that goes to an entity that forever will be controlled by Russell Lands? Are we paying for Ben's trails and Russell Crossroads every time we sell a piece of property on the lake, without being told that's what we're paying for, a la Lake City?
Where is this forest, how big is it, and what are our rights to it? Can we hunt it? Are we all going to pay for it whenever we sell a piece of lake property from now on?
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| Name: |
TheAuthor
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| Subject: |
John C, are you familiar with this?
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Date:
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11/4/2010 2:32:53 PM
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Can you tell us anything about it, specifically where the tax goes and what it is used for?
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| Name: |
John C
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| Subject: |
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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