As a part owner of the PMOST, what are the risks to me?
Yes, there are three major types of risk the owners of PMOST are subject to: a. Any party claiming injury due some negligence or malfeasance can sue owners of the Trust for instance, if a child is hurt playing on the land. For the reason, the Trust maintains insurance. b. The Trust is required to administer a lot of rules on behalf of the various organizations that created it. To the extent that it doesnt do this well, there is a risk that the town could step in, perform the work and then assess the cost of performing these tasks back to the owners. To manage this risk, you should participate in the Trusts activities by attending the annual meeting. c. There is financial risk beyond the typical operating costs of ~$150 to $200 annually. If [when] the catch basins (of which there are three located on land deeded to PMOST) need maintenance or cleaning, this will be a major expense. Of course, the 83 owners will share the costs, but when these systems need work, it is likely to be expensi
