Hotel California.....

Desert Mountain Club Wins Suits Against Desert Mountain Members

Maricopa County Superior Court ruled on November 21, 2016 that Desert Mountain Club members Clark and Graham had no right to simply resign from the club. The court granted a summary judgment against the defendants, agreeing that Desert Mountain Club members are locked into paying dues and assessments until they comply with resignation procedures set by the club’s board of directors. Points made to support the court’s ruling:

Changes in club bylaws have revoked commitments made by the club when recruiting new members. For example, pledges to split the proceeds of sale of a membership 80-20 are now void. So too is the commitment to allow members to quit at any time. This is true even though section 4.6.3 of the 2010, 2012 and 2013 club bylaws gives resigning members the refund rights granted in their original memberships agreement.

What a member has to pay to leave the club is entirely up to the board. ARS § 10-3610 guarantees all members of a non-profit corporation the same rights and obligations. It’s considered equal treatment of members if the board charges one member $65,000 to resign and waives any resignation fee from another member.

Membership in the Desert Mountain Club is like owning a car. Owners have to transfer title to get rid of a car. Getting rid of a Desert Mountain membership is the same. Once enrolled, members have an obligation to support the club financially regardless of their personal situation. This is true even though membership in the club is not a property right. The Desert Mountain Club is a non-profit corporation. Non-profits have members, not owners. Desert Mountain “equity members” have no right to any share of club assets, even after sale or dissolution of the club.

Desert Mountain is not Hotel California. Members are not trapped like guests in the Eagles' hit tune: "You can check-out anytime you like, but you can never leave.” The court in the Callawassie case ruled that a golf club can not trap members into what could be a perpetual obligation to pay dues. Reasoning in the Callawassie case doesn’t apply because the Desert Mountain bylaws are clear that members must continue paying dues even after resignation.

There are five ways to leave the Desert Mountain Club. Sale with a member’s property, sale at the market price, legacy transfer, negotiated transfer and death. The first four assume a willing recruit can be found. If not found, or if the board gives priority to selling from their ample supply of un-issued memberships, dues may be payable for life.

Judgment against Clark and Graham was entered on December 22, 2016.

Notice of Appeal was filed on January 10, 2017, Case number 1 CA-CV 17-0100

DMC v. Clark Appellate Decision April 12, 2018

Palm Desert

Instant Ukraine hits

Hola

First the Russians , now Ukrainians....

$469,999

1216 S Maple Ave, Tempe, AZ 85281

 LOCATION, LOCATION, LOCATION...Maple Ave is one of the most iconic streets in all of Tempe. With all of the development (Whole Foods, Mirabella, The 18 story Westin Tempe) going on this home is a great long term investment. With tear downs selling for as high as $443,000 (Maple & 12th) and updated homes like the one next door selling for $772,000 the possibilities for this are endless. The lot has desirable duplex zoning, the front house is a 2 bedroom 1 bath and the guest house is a studio with full kitchen and full bath. This home is for serious people that have the resources to restore this home and make it something amazing. Would be great for dream home builder, developer/flipper,investor, or owner occupant.

$350,000

 Come with your design ideas and restore this charming 3 bedroom, 1 bathroom mid-century single family home. Enjoy the sounds of the ocean and swaying coconut trees from your backyard large enough for a pool with a combined lot size of more than approximately 7,000 sqft! (Property is two different parcels, but will be sold together) perfect for expansion or tear down and build your dream home! Tax records may differ from the actual square footage of the home. Great location in the heart of Waianae near restaurants, beaches, and grocery stores. No HOA fees! Possibilities are endless!

284.43 Acres

 000 Highway 220, Casper, WY 82620

$1,795,000

 Situated in the heart of historic Telluride, this duplex residence offers a wealth of opportunities. Two bedrooms and two baths on each of the upper and lower flats. Rent the individual residences as an investment property or live in an excellent investment property that can be re-developed into a single family home at one's discretion. Out the front door you may walk to skiing and downtown's restaurants-shops. Private off-street parking in the back.

$1,500,000

 Classic, chic, casual, cool and even a bit curious best describe this property. RANCH & COUNTRY CLUB LIFESTYLE , with golf courses and miles of riding. Twisted Tree Ranch lies on 10 acres at end of Ranch Rd. A Modern Western Ranch home blends in harmony with views of Mazatzal Mountains, Four Peaks and nearby Tonto Natl Forest. Architect Bob Bacon designed this One-of-a-kind home. Fabulous 2 bedroom, 2.5 baths in main home(3,376 sq ft). Separate rustic 2 bed/ 1 bath guesthouse with fitness room(989 sq ft). Graceful great room opens to fully equipped kitchen, Viking appliances, poured concrete counters, island, wine fridge, ice maker, knotty alder wood cabinetry, (throughout the home). Colored concrete, plank & walnut flooring, wool carpet in master bedroom, has patio leading to pool.

The second split bedroom has private patio with endless views. 3 cozy fireplaces inside + a fireplace & fire pit on the patios to enjoy the true Arizona life style with incredible outdoor living spaces. The guest house offers a fitness room with mirrored walls, ballet bar, high-end elastic flooring and lots of room for fitness equipment. The sweeping outdoor patios offer generous spaces for intimate or large gatherings. Impressive Vigas, skylights, built-in Viking BBQ and breathtaking views from heated pool and spa... Extended length 3 car garage has additional storage closets, built-in cabinetry and sink. Also covered parking for 3 vehicles. The exterior construction of the buildings is synthetic stucco. The property has a small horse corral and plenty of room for additional facilities on the 10 acres. Private Well. Windmill adds character. Extraordinary craftsmanship, attention to detail and artistic design create an exceptional home which enable an enriching and comfortable lifestyle surrounded by the Sonoran Desert... Complimenting this desert gem are the Non Resident Memberships available at Trilogy and Tonto Verde Clubs, providing: TRILOGY: Golf, tennis, pickle ball, bocce ball, canoeing, fitness center, pool, Salon. TONTO VERDE: Golf, fitness center, bocce ball, pool. The General Public has access to both facilities for golf (limited), fine dining and Salon at Trilogy.

Bham museum, Barbie shoes🤣

If you are looking for a toy........

I LOVE CAREFREE, know it better than anyone?

Building in Carefree 2019

https://www.zillow.com/homedetails/8548-E-Concho-Ln-Carefree-AZ-85337/2098102037_zpid/

https://mcassessor.maricopa.gov/mcs.php?q=21625119&mod=pd

https://maps.mcassessor.maricopa.gov/?esearch=21625119&slayer=0&exprnum=0

 826 ORANGE AVE CORONADO CA 92118-2619

not a mobile home....

http://atlgonline.com/index.php?option=com_content&view=article&id=72:deron-marquez-co-founder-and-chief-executive-officer&catid=37&Itemid=189

There is a house there now

Up and Down

Hola-for the week🤣

Please leave a comment

Desert Drive

Ingersoll House Back

$5.9

Rare Gem sitting at the highest point in Rose Quartz at The Desert Mountain Club overlooking the Cochise Golf Course and valley below. Situated on two lots with views stretching from the McDowell Mountains to Apace Peak allowing for awe-inspiring sunsets and city lights. Walls of glass in this great room desert contemporary is finest of seemless indoor/outdoor living. In the Arizona evenings you can relax and enjoy watching TV, dining or taking a dip in the pool and spa on your resort like expansive patio. In addition to the luxurious master there are three en-suite guest rooms, den/office with full bath and a casita/bonus room with full bath. Conveniently located inside Desert Mountain this property allows you to get to all amenities within minutes. Designed by Shelby Wislon

built by Dick Lloyd Custom Homes along with finishes and furnishings by the Suzanne Biers Company this home exudes attention to detail. The home is being offered with all furnishings and artwork. Membership to the Desert Mountain Club is not included however may be available.

3.8

Practically free, GUT and REDO

 $2,455,000

This beautiful privately gated estate offers everything one could imagine, including the highest interior finishes. Open great room with dramatic staircase entry which sets the tone of sheer luxury with views of the entire valley & city lights. Pool & Spa right off the master bedroom. The master has a workout room and views of The Boulders Golf Course. The great room has views of the whole valley with a fireplace that sits as the center piece for the dining and great room with soaring ceilings. The guest house has 2 bedrooms, great room with a fireplace, 2 baths and kitchen. 4 car garage. This is one of Arizona's most elegant estates and sits on 3.8 acres, perched on top of a mountain.

who dat?

Coming Soon $3,580,000

Cave Creek

VERY special

This is the site of the original William Hellings homestead. He built the first wagon road from Cave Creek to Phoenix and  put in one of the first mines, the Golden Reef on the land, with a tramway and towers that took the ore from the mine down to the stamp mill, which  is now at the Cave Creek Museum.  All the 38 acres are patented and include all mineral rights.. There are a number of prime homesites on the hills, found by architect Wil Bruder, that could be the site of dramatic homes.

Stay tuned for further details on this hidden ranch, kept in private ownership by a very well-known area resident.  Nice covered stables and pens and a turnout are on the property as well.

The best substitute for brains is silence

One instance-please read NY attorney general

https://www.corecompass.com/articles/sec-disgorgement-order-cook-islands-trust-jail

Jason Kidd?

$6,995,000

taxes go to Boulevard Management

 Stunning, unique, modern masterpiece perfectly positioned on a privately gated oversized lot in the heart of the most desirable area of magical Paradise Valley. The 7,000 square foot main house was completed in 2018 and tied in perfectly with the 2,500 sq ft guest house which was 100% remodeled creating an amazing private estate on a combined lot sprawling 3.46 acres with views of Camelback Mountain. Decked out with all the quality finishes, you won't want to miss this opportunity. See list of features in the documents tab.
WHAT IT LOOKED LIKE BEFORE:

$21,000,000

https://virtualglobetrotting.com/map/larry-clemmensens-house/

Pending

$8,999,000

 Exquisite estate with views for days. This masterpiece is an entertainers dream. Privately located on mummy mountain, this estate has extreme privacy. Featuring 9 large bedrooms, 10.5 bathrooms, and a huge yard (especially for a hillside lot). This home is available for short term lease or long term! Fully furnished, and turnkey ready to go! You'll be sure to enjoy the multiple pools, waterslide, sauna, home gym, theatre room, game room, and tons of space for the whole family to stretch out. Make this estate the top on your list for your extended or short term stay.

fun reading

https://whoownsengland.org/2017/04/17/the-thirty-landowners-who-own-half-a-county/

Reduced

$2,799,999

Pictures don't show what it is

 This property is for the discerning buyer who is looking for a truly unique custom home. Situated on 9.8 mountainside acres, this is a private enclave that offers elegant living and singular amenities. Boasting one of the most private locations and the best views in the valley, this custom home has wrap-around patios that provide a 180-degree overlook of the major mountain ranges of the Arizona Valley. The spacious formal dining room and eloquently appointed parlor allow you to entertain in style. The newly remodeled chef's kitchen offers a six-burner gas range with panoramic mountain views. A private guest suite features a full kitchen, living area and bedroom with en suite. Seize this opportunity to own this exclusive estate.

Kill people, hide the money

Where did the Sacklers move cash from their opioid maker?

The Washington Post

By Adam Geller|AP September 5
Ninety minutes outside London, a turn down a narrow lane leads past fields of grazing cattle to a sign warning “Private Keep Off.” Around an elbow bend, a great stone manor, its formal gardens and tennis court hidden behind thick hedges, commands a 5,000-acre estate.
The estate is a pastoral prize — proof of the great wealth belonging to the family accused of playing a key role in triggering the U.S. opioid epidemic. But there’s little evidence of that connection. On paper, the land is owned by seven companies, most based in distant Bermuda, all controlled by an offshore trust.
The haziness surrounding the estate hints at one of the challenges for government lawyers as they eye a potential settlement with Purdue Pharma L.P. and its owners, the Sackler family, for their alleged role in flooding communities with prescription painkillers.
All but two U.S. states and 2,000 local governments have taken legal action against Purdue, other drugmakers and distributors. Sixteen states have sued family members by name, alleging they steered Purdue while draining more than $4 billion from the company since 2007. That’s when the Oxycontin maker pleaded guilty to misleading doctors, patients and regulators about the drug’s risks.

Purdue’s CEO has said the company could file for bankruptcy. And news organizations have reported that Purdue, the family and government lawyers are negotiating a possible settlement , valued at $10 billion to $12 billion, that would see the Sacklers give up company ownership and contribute $3 billion of their own money.
But where, exactly, did the money withdrawn from Purdue over the years end up? And how much might the family be holding that state and local governments should consider fair game?
Answers are complicated by the way the Sacklers have shielded their wealth in an intricate web of companies and trusts, a review by The Associated Press has found. Some are registered in offshore tax havens far from Purdue’s Connecticut headquarters.
The web’s complexity and offshore reach could affect the calculus for government lawyers as they weigh how to go after Purdue, including how to calibrate demands in settlement talks.
“The Sacklers allegedly moved significant money offshore, which potentially would make it harder for any judgment creditor to reach,” said Mark Chalos, a lawyer representing counties and cities including Nashville, Tennessee, in suits against opioids makers.
“This is the real question and you’re seeing it playing out in a lot of different states in different ways,” said Elizabeth Chamblee Burch, a professor of law at the University of Georgia. “How do you make sure that they (the Sacklers) are not siphoning off those assets and hiding them away?”

A representative for the family of Purdue co-founder Mortimer Sackler declined to comment for this story, as did a company spokeswoman. A representative for the relatives of Raymond Sackler, Purdue’s other scion, did not respond to a request for comment.
Purdue and the Sacklers have long relied on a coterie of attorneys and accountants, as well as the family’s closely held ownership of the company, to keep their business and personal dealings private.
But AP’s review of court papers, securities filings by companies that have had dealings with Purdue, and documents leaked from an exclusive Bermuda law firm, show how family members have tried to protect their wealth.
Purdue — controlled through layers of limited partnerships, holding companies and trusts — is at the center of the family’s web. But it hardly ends there.
In Purdue’s 2007 plea agreement with federal prosecutors, it listed 215 companies under its corporate umbrella. But that list did not include a number of companies used to manage property and investments for family members or the trusts, some offshore, set up to administer their fortunes.
Some offshore entities “appear to have served as conduits for monies from Purdue,” a lawyer for New York’s attorney general wrote recently to the judge presiding over the state’s lawsuit.
New York has issued subpoenas to 33 Sackler companies, advisers and banks in the U.S., seeking details about money transferred out of Purdue. It is asking for court assistance to demand that four offshore entities also provide information about millions of dollars

that “should be clawed back.”

Many companies set up limited partnerships and country-specific subsidiaries to cap liabilities for shareholders, and many wealthy individuals manage their investments through opaque entities.
But an examination of the Sacklers’ web shows striking complexity and a desire for secrecy, while revealing links between far-flung holdings.
The British estate, known as Rooksnest and acquired before Purdue introduced Oxycontin, is one example. The manor is the domain of Theresa Sackler, widow of one of Purdue’s founders and, until last year, a member of the company’s board of directors. Set in the West Berkshire countryside, it includes a stone mansion that dates to the 16th century, 10 acres of formal gardens and expansive pastures for heritage cattle, red deer and wheat.
It’s run by a Bermuda company called Earls Court Farm Limited, records filed with UK authorities show. But some of the land is owned by five more companies, three also in Bermuda. Earls Court is owned by yet another offshore company. And all the companies are controlled by a trust, based on Jersey in the Channel Islands.
Public filings don’t show who actually owns the estate, and gardeners at the site told an AP photographer they could not answer questions. But documents leaked from Appleby, a Bermuda law firm employed by numerous wealthy clients, show that the companies belong to the Sacklers, among at least 30 island-based

entities controlled through family trusts.

Indeed, the leaked documents show that the trustee of the British estate also controls a Sackler company named in U.S. securities filing as one of Purdue’s two “ultimate parents.”
Some states have also sued that firm, Beacon Co., based in the Channel Islands, along with Purdue and the Sacklers. New York state is seeking to subpoena the offshore trust company used to control both Beacon and the British estate.
It has long been known that the Sacklers use Bermuda as a base for Mundipharma, a network of companies set up to do business outside North America. But their island portfolio also includes family foundations, real estate holding companies and an insurer, according to documents leaked in 2017 to the German newspaper Suddeutsche Zeitung. The documents are part of millions known as the Paradise Papers that were shared with the International Consortium of Investigative Journalists which provided access to the AP.
The Sacklers’ use of offshore holding companies and trusts is telling, said Jeffrey Winters, a Northwestern University professor whose research focuses on how the powerful protect their fortunes.
“One would not put those trusts there if you didn’t see some wealth defense benefit,” Winters said. “It’s very hard to see what’s in there and it’s very hard to seize what’s in there. That’s the purpose.”
But David S. Neufeld, an international tax lawyer who works with wealthy clients and closely held companies, said the layered, partly offshore structure used to control Purdue, while not typical, is also not that uncommon.

“Somewhere in this picture is a desire to limit exposure to business liabilities. That’s not, in and of itself, a problem. That’s the very nature” of setting up a corporation, Neufeld said.
The Sacklers had an estimated net worth of $13 billion as of 2016, making them America’s 19th-richest family, according to Forbes magazine. One of their largest holdings outside pharmaceuticals appears to be an estimated $1.7 billion portfolio in a family company, Cap 1 LLC, that recently sold its stake in 17 U.S. ski resorts.
Massachusetts, New York and other states are alleging that the family has worked methodically to move money out of Purdue to insulate their fortune.
At a meeting in December 2010, for example, the Sacklers and other board members approved the withdrawal of $261.3 million from Purdue, according to company records recently made public in the Massachusetts case, the first to name individual family members. Until recently, eight Sacklers served on Purdue’s board.
The board instructed that the money be passed through three layers of holding companies, then split equally between Beacon Co. and Rosebay Medical Co., the other “ultimate parent” of Purdue. Both are controlled by Sackler trusts.
“Do you know whether any of these sums distributed between 2008 and 2011 made their way into any bank account over which you had control?” an attorney asked Dr. Kathe Sackler, one of the family members who approved the transfers, during a deposition this past April.

“I hope so,” she answered, according to a partial transcript recently

made public in court filings. “I think so.”

The family’s withdrawal of substantial sums from Purdue was noted by Dr. Richard Sackler, the former president and chairman, in a 2014 email to his sons, filed as an exhibit in court proceedings.
“In the years when the business was producing massive amounts of cash,” he wrote, “the shareholders departed from the practice of our industry peers and took the money out of the business.”
He did not need to remind his sons that the only shareholders of Purdue are Sacklers.
It is not clear where the money drawn from Purdue ended up. New York’s attorney general alleges that the Sacklers sent it offshore to “unknown trusts, partnerships, companies” and other entities they control.
The possibilities are numerous. When family members directed payments to Rosebay Medical, for example, the company served as much more than a parent of Purdue. It is also the owner-of-record for Sackler companies spread from Poland to New Zealand, corporate registries in those countries show.
Rosebay is run from an office in Oklahoma City that manages many family holdings. When David Sackler, son of one of Purdue’s founders, paid $22.5 million last year for a mansion in Los Angeles’ Bel Air neighborhood, the executive who administers Rosebay served as his representative for the purchase.
Lawsuits allege that the Sacklers’ money management decisions were framed by their awareness of state investigations of Purdue.
“Despite this knowledge, the Sackler defendants continued to vote to have Purdue pay the Sackler Families significant distributions and send money to offshore companies,” Nevada’s lawsuit says.

Family members voiced concerns about threats to their holdings.

“While things are looking better now,” Mortimer D.A. Sackler wrote to his cousins months after Purdue’s 2007 guilty plea, and quoted in Connecticut’s lawsuit, “I would not count out the possibility that times will get much more difficult again in the future and probably much sooner than we expect.”
Purdue agreed in March to a $270 million settlement with the state of Oklahoma to avoid going to trial. That included $75 million from the Sacklers.
A federal judge in Cleveland overseeing suits by local governments has pushed all parties to work toward a nationwide settlement. The resulting negotiations have included representatives for some of the state attorneys general who have filed suit.
The first federal trials are scheduled to start in October. Unless there’s a settlement, family members could face more questions about their decisions to move money out of Purdue, some of it offshore.
At trial, lawyers for states and cities would “need to prove that the transfer of the money to these offshore accounts were made with fraudulent intent,” said William J. Moon, a professor of law at the University of Maryland.
States can ask courts to order the return of such money to satisfy a legal judgment. But going after money moved offshore would be time-consuming and expensive, with few guarantees, Moon and others said.
Governments suing the company could start by asking judges to order the seizure of Sackler assets in the U.S., pending an eventual verdict, said Gregory Grossman, a Miami attorney specializing in international insolvency. That would require convincing a judge that they’re likely to win the case. But it would be far easier than getting a U.S. judge to freeze offshore assets, he said.

“How comfortable is the court with ordering the seizure of things that are not in their jurisdiction?” Grossman said. “If they are comfortable, will they get cooperation with folks on the other side of the pond?”
If Purdue files for bankruptcy, all the company’s assets would be considered fair game for creditors. But the company’s coffers are separate from the family’s own wealth.
Unless a state had already won their case by that point, a bankruptcy filing by Purdue would put lawsuits against it on hold, said Jessica Gabel Cino, a professor of law at Georgia State University.
As states decide how to proceed, they could find lessons in efforts to recover money lost in broker Bernard Madoff’s infamous Ponzi scheme.
A court-appointed trustee has long sought money Madoff paid out to investors in offshore “feeder funds,” using cash others entrusted to him. Madoff was arrested in December 2008. But just this February, a federal judge ruled that the money Madoff directed offshore had to be returned.
The ruling, though, is likely to be appealed. ___
Associated Press photographer Frank Augstein in Lambourn Woodlands, England, and researchers Randy Herschaft and Rhonda Shafner in New York contributed to this story.

Open House Sept 11 9:30-11:30Am

$2,654,775

3953-3959 Round Top Dr, Honolulu, HI 96822

For LVT

$1,787,000

 Gorgeous well vegetated 17.87 acres 2 parcels. with views and many possibilities. Close in Location. Vacant Land

The Ingersoll House

we recently talked about it...

took you there a few times....

Closed:
$800,000
06/13/2013

$4,120,000
07/28/2016

ACTIVE
$6,247,000

9/6/2019