Waiver of First Option to Repurchase
Pursuant to Article XIX of the Master Deed Establishing Tall Ship Horizontal Property Regime, the Tall Ship Association has a right of first option to purchase any unit that is offered for sale.
Before a sale can take place a Unit co-owner must comply with Article XIX by making a request for a Waiver of First Option to Repurchase and submitting it to the current President of the Tall Ship Homeowner's Association together with a copy of the purchase and sales agreement. This request must be made in writing at least forty-five (45) days prior to the date of the proposed sale.
If the Board of Directors determines that a waiver should be signed, a Board member will sign the waiver and return it to the person submitting the request. Otherwise, the Board of Directors will call a special meeting of Unit co-owners to determine if the Association should purchase the unit.
Click here to view the entire Tall Ship Association, Inc. Policy.
Click here to download the Waiver of First Option to Repurchase document.
Before a sale can take place a Unit co-owner must comply with Article XIX by making a request for a Waiver of First Option to Repurchase and submitting it to the current President of the Tall Ship Homeowner's Association together with a copy of the purchase and sales agreement. This request must be made in writing at least forty-five (45) days prior to the date of the proposed sale.
If the Board of Directors determines that a waiver should be signed, a Board member will sign the waiver and return it to the person submitting the request. Otherwise, the Board of Directors will call a special meeting of Unit co-owners to determine if the Association should purchase the unit.
Click here to view the entire Tall Ship Association, Inc. Policy.
Click here to download the Waiver of First Option to Repurchase document.