1377-Acres 1377-Acres V8 Dr, Atlanta, MI 49709

Property Description

Hunting Club Membership For Sale!! Enjoy 1,377-Acres for Hunting, Fishing, Snowmobiling, Canoe / Kayak, Tubing, Hiking, and Private Recreational Opportunities. 1/10 Share of this Incredible Property!!. Property has approximately 6,560-Feet of Frontage on the Thunder Bay River. A Diverse Forest with Hardwoods, Conifers, Cedar, Spruce, Open Fields, Food Plots, Streams, Lowland. Excellent Deer Hunting. There is a Designated Area for this Membership on the River for a Home or Cabin. ** See Supplement for Additional Information. 1,377-Acres on the Thunder Bay River. Price includes stock co-ownership in V-8 Club, Inc. which owns property. Great north woods property features uplands, swamps, river, creeks, & meadows. Hunting includes deer, bear coyote, rabbit grouse & more or fish the Thunder Bay River. 9 cabins with spots for 6 more (15 is maximum # of stock-holders, currently there's 10). Guest passes available. With sufficient notice listing agent can arrange a tour of the property with a stockholder of the Corp. No deed granted, therefore no title insurance or transfer taxes. Bill of Sale will include 10 stock certificates (1/15 of total shares) CBSR to escrow. Stockholders enjoy the rights, privileges and obligations of the property. Each stockholder gets one guest pass which varies in price depending on the hunting season: rifle season $100, bow season $75, and small game $25. The spouse of the stockholder and their children under 18 are free. Guest pass is per individual; that individual can hunt as many times in a season for one price. Stockholder would pay additional costs if different guests use the respective stockholder's one pass. There are some options to get an additional guest pass given five of the hunt club memberships are open right now. All of this would need to be confirmed with the current board and president at time membership/stock-ownership is obtained when the Some use restrictions exist, here are some: no target shooting on property. Small game shooting by shotgun only. No organized hunting drives during deer season. There's a shooting range about seven miles from the property that members frequent. Logging and mineral rights fund payment of property taxes on the acreage along with maintenance of the property. This is subject to change. Purchaser must be approved by V-8 Club, Inc., which is a private entity not subject to fair housing laws. See attached Bylaws. This offering includes 10 shares of stock in the Corporation. 10 shares is 1/15 of the total number of shares; this purchase conveys all the rights, privileges, and obligations as noted in the attached corporate bylaws. Since no deed is granted, there is no title insurance nor does the seller pay transfer taxes. There will be no title co. closing fees for either side. 10 stock certificates will convey by seller to buyer via Bill of Sale. In order for the seller to sell stock certificates to his buyer, the V-8 Club, Inc. must approve the buyer. The corporation's primary motivation is to insure the quiet enjoyment, hunting, and fishing of the property for all stockholders and their guests. Buyer will interview with a 3 - 4 member stockholder committee. There are currently ten stockholders since 50 shares are being held in the corporation's Treasury account. A vote will be held where at least 7 of the 10 stockholders must approve buyer. Upon request a serious Buyer's due diligence provides for access to V-8 Club, Inc.'s financial reports and meeting minutes. Access will be in the presence of the Treasurer of the Corporation; no hard-copies will be distributed. With sufficient notice listing agent can arrange a tour of the property. Since no deed is granted, there's no title insurance or transfer taxes. Instead a Bill of Sale will include 10 stock certificates (1/15 of the total shares). CBSR to use its escrow account to collect and distribute funds and administrate the sale.