What happens if someone defaults on a share?
A. This is a valid concern, given the nature of group ownership. If a shareholder defaults, we expect to be able to find another buyer or buyers for the share(s) in question. Our plan also includes a financial “cushion” as follows: While we only need to sell 35 shares in order to purchase 200 acres, we will offer between 40 and 45 shares for sale. The extra money and/or income will create a contingency fund, allowing the ownership entity (LLC) to respond to short-term financial needs, such as covering the lease on a defaulted share until another leaseholder can be found.
