2022 AGM - VOTE ON CHANGES TO THE PERPETUITY CLAUSE
Posted: Wed Nov 16, 2022 12:20 am
Good Evening ALL Owners
We have waited countless years to be offered a vote on the Perpetuity Clause and now we have It thanks to our Committee, so let's grab It with both hands AND VOTE FOR CHANGE!
It is imperative that Owners of ALL ages take this opportunity to Vote in favour of the long awaited changes to the Perpetuity Clause. Presently when an owner dies their Estate cannot be settled and distributed (Probate/Confirmation in Scotland) until descendant/n.o.k of the deceased owner signs off accepting ownership of the LRHC week(s) owned. If no one is willing to accept ownership, then the responsibility at present is placed on the Estate of the Deceased by LRHC, this prevents Probate/Confirmation from being completed and can end up in a costly Court Case that prolong matters further.
Therefore by voting in favour of this amendment to the Perpetuity Clause, Owners have the reassurance that their family will now have the choice whether to continue ownership of the week(s)or to hand it back to the Club without the fear of a Legal wrangle. It also means LRHC will not find itself being involved in a costly legal wrangle to claim on-going Management Fees from a Deceased Owner's Estate. Another positive point is that in clarifying the Perpetuity Clause, it may make ownership at Rannoch a more attractive proposition and increase sales. So a win win situation all around.
As for younger owners who may feel this vote is irrelevant to them, I'm sorry to say that it is indeed as relevant, particularly if you have a young family.
No one knows what fate has in store for them, and the last thing any family needs at a time of devastating loss is a legal wrangle holding up Probate on an Estate.
I think as much as 70% of the vote in favour is required for this change to the Perpetuity Clause to be passed, therefore Owners let's grab this opportunity and make it happen!
Ronnie Robertson
We have waited countless years to be offered a vote on the Perpetuity Clause and now we have It thanks to our Committee, so let's grab It with both hands AND VOTE FOR CHANGE!
It is imperative that Owners of ALL ages take this opportunity to Vote in favour of the long awaited changes to the Perpetuity Clause. Presently when an owner dies their Estate cannot be settled and distributed (Probate/Confirmation in Scotland) until descendant/n.o.k of the deceased owner signs off accepting ownership of the LRHC week(s) owned. If no one is willing to accept ownership, then the responsibility at present is placed on the Estate of the Deceased by LRHC, this prevents Probate/Confirmation from being completed and can end up in a costly Court Case that prolong matters further.
Therefore by voting in favour of this amendment to the Perpetuity Clause, Owners have the reassurance that their family will now have the choice whether to continue ownership of the week(s)or to hand it back to the Club without the fear of a Legal wrangle. It also means LRHC will not find itself being involved in a costly legal wrangle to claim on-going Management Fees from a Deceased Owner's Estate. Another positive point is that in clarifying the Perpetuity Clause, it may make ownership at Rannoch a more attractive proposition and increase sales. So a win win situation all around.
As for younger owners who may feel this vote is irrelevant to them, I'm sorry to say that it is indeed as relevant, particularly if you have a young family.
No one knows what fate has in store for them, and the last thing any family needs at a time of devastating loss is a legal wrangle holding up Probate on an Estate.
I think as much as 70% of the vote in favour is required for this change to the Perpetuity Clause to be passed, therefore Owners let's grab this opportunity and make it happen!
Ronnie Robertson