What are the responsibilities of the developer, Carruth Capital?
Carruth Capital was the original Trustee and administered the Trust through 2001. They are required to turn over the Trust within one year of selling the last lot of the subdivision or ten years from its inception (1993). Once the Trust, according to its governing rules and constructs appoints a new Trustee, Carruth Capital has no further legal responsibility for any aspect of the Trust. During 2001 Carruth Capital contacted homeowners to collect for the prior years expenses and proposed naming Elena H. Pucciarelli of 23 Piccadilly Way as the new Trustee. This proposal was ratified by a two-third majority of the homeowners.
