What is a Deeded Admission Right and why is it important to own with real estate purchased?

Effective January 1, 2015, all real estate marketed by the club is sold with a Deeded Admission Right (DAR). All properties that have a DAR allow for the buyer to have admission application consideration within 36 hours of application including when the club membership cap is met and there is a waiting list to apply. In January 2015 the club will announce that it has allocated a membership to every permitted property in the master plan.

Does a property that has a Deeded Admission Right guarantee the buyer membership in the Club?

No. The DAR guarantees the buyer express 36 hour review of their application regardless of a waiting list. The buyer is still subject to the normal and customary admission review process including the standard background check.

If I purchased real estate from the club prior to this date does my property have this Deeded Admission Right?

No. The Deeded Admission Right (DAR) is a recordable document that goes on the land records and is transferable with the real estate. All transactions effective January 1, 2015 forward are sold with a Deeded Admission Right. All transactions prior do not have the rights.

What is the cost for a Deeded Admission Right?

The cost is set by the club in its sole discretion and may periodically be adjusted. The current cost for Deeded Admission Rights are as follows:

High Peak: ………………………………………………………………….$20,000
Chamonix Village and Grenoble Way: ……………………………$30,000
Hotel Hermitage’ Condo/Hotel: (RE Values $350k-$699k)….$20,000
Hotel Hermitage’ Condo/Hotel: (RE Values $700k+)………….$30,000
Homes at the Hermitage:……………………………………………….$30,000
Stag’s Leap: (RE Values $1.9M-$2.2M)……………………………$40,000
Stag’s Leap: (RE Values $2.3M+)…………………………………… $50,000

Is all Club marketed real estate sold with membership?

Yes. The Club has added the price of membership on to every real estate offering and all club marketed real estate is sold with the price of the Deeded Admission Right included.

Why does the Club sell membership and Deeded Admission Rights with real estate it markets?

These fees help support capital infrastructure and amenities improvements throughout the club such as new lifts, rides, recreational courts, swimming pools etc.

If I already own a membership and then purchase real estate that includes a membership can I sell the additional membership?

Yes. The same provision applies in the present membership documents. You can resign your membership to the club and the club will refund you 80% of the price you paid. For every three memberships the club sells, the club will repurchase one from a resigning member. There is however a 3 year restriction on resigning a membership that was sold with real estate and/or with a Deeded Admission Right.

If I own more than one membership am I required to pay dues on both?

No. Members are beginning to buy additional memberships now to lock in the current initiation fee for their children and grandchildren under the age of 32. The recipient member is not required to pay dues until they reach the threshold age of 32 and continue to be listed as an extended immediate family.

Search