Holding onto houses when chapter is dormant

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Holding onto houses when chapter is dormant

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04-04-2005, 03:29 PM

Rudey

Banned

Join Date: May 2001

Location: Taking lessons at Cobra Kai Karate!

Posts: 14,928

Re: Re: Holding onto houses when chapter is dormant

Quote:

Originally posted by sageofages
Phi Mu chapter houses are owned by individual house corporations. They choose to keep or sell the house when a chapter ceases operation. For example, we still have a house at UCLA and the house corporation rents it out. They make a profit enough that the house now has no mortgage. They maintain the property and have the necessary insurances.

Does the international office get to say anything in regards to selling it or whatnot?

-Rudey

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