As each Claim is the right to a particular town (as identified by zip code) for a one year (365 day) period, each Claim has an Anniversary Date for Renewal of the Claim.
Claim Owners have the first right to Renew (keep) their Claim on the Anniversary Date. The cost of the Renewal is whatever the most recent transfer price was for the Claim.
60 days prior to the Anniversary Date of each Claim, OnTheMapUS will send an email to the Claim Owner informing them of the upcoming Anniversary Date and the cost to Renew their Claim. Another email will be sent 30 days prior, and a 3rd 7 days prior (if the Claim has not been Renewed by then). The Claim Owner can then:
1) Renew their Claim 2) Sell their Claim 3) Allow the Anniversary Date to pass without action.
If the Anniversary Date passes without a Renewal or Transfer of the Claim, the Claim Owner loses their right to the Claim and the town will become available to other verifiable residents of the town.
Example of a Renewal
Claim Owner secured Claim for $100 on January 10, 2007.
No transfer of Claim in previous 365 days.
Claim Owner Renews Claim for $100 on or before January 10, 2008
Note: The above example does not necessarily mean that the value of the Claim has not increased...only that the Claim Owner has not sold the Claim.
Second Example of a Renewal
Claim Owner secured Claim for $300 from a Claim Owner who had secured the Claim from a previous Claim Owner, who had secured the original Claim for $100 on February 1, 2007.
Claim Owner Renews Claim on or before February 1, 2008 for $300.
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