Meeting Summaries
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P&C Meeting Summaries

October 2012 Special P&C Meeting about Marnie

24 members of the P&C were in attendance. Two proposals for the future management of Marnie were presented and voted on.The proposals were prepared by interested parties after the announcement of the special meeting.

The members voted in favour of the proposal to sell Marnie by 15 votes to 9.

Bob Selinger has put on notice that he will present a motion at the next P&C General Meeting and thank you drinks: Tuesday 11 December 2012 @ 7.30pm in the Learning Space requesting that the P&C grant him 'first right of refusal' over the Marnie property sale.

First right of refusal

A person holding a 'first right of refusal' (Person A) exercises their right when a buyer for the property (Person B) makes an offer to purchase the property that is accepted by the owners of the property. Person A then has the right to buy the property at the price offered by Person B and Person B misses out.

  Advantages Disadvantages
For Person A who holds 'right of first refusal': No need to take any action until another buyer for the property turns up with an offer that is acceptable to the owners of the property. Nil
For Person B:

Nil

They may only proceed to a successful purchase if Person A does not wish to exercise their right of first refusal and purchase the property.

For the owner:

Nil

Real estate agents who are aware that a right of first refusal has been granted over the property may:

  • Refuse to handle the sale of the property

  • Ask for a written agreement that they be paid their commission even if Person A is the successful buyer