FAQ - Fractional Ownership

Frequently Asked Questions

Is this just another a Timeshare scheme?

It is certainly not! You and your fellow shareowners own the company that owns the building, the contents and the grounds. The shares are owned by you and yours to pass onto future generations or sell.

Can I jointly buy shares with friends and family?

Yes, you can buy shares in your chosen property as an individual or as a partnership.

Is the property offered a deeded property?

Yes, the property deeds are owned by the UK based company. The members own shares in the company, the company owns the property.

Are the weeks offered fixed or variable?

This varies from property to property. Some properties are offered with fixed dates, some – on a rolling basis. This depends on the climate zone of your property location as well. Please request some additional information regarding the specific property you are interested in.

Do I have to have the same weeks every year?

As you are a co-owner with just a few other people, it is entirely up to you to come to agreement with other members and change the existing arrangement when necessary.

Do I share the property with anybody else during my stay?

No, you have exclusive use of the property during your stay – you may of course wish to invite family and friends.

Exactly what does ownership include?

Every ownership deal depends on each individual property and it's location - we try to work out the most efficient solution for co-owners best suited in that particular climate zone. For example, 1/4th fractional share will give you the right of 13 weeks exclusive residency evenly spread through low and high seasons each year. For more information please request a brochure specifically related to the property of your interest

What fees do you charge?

There are no additional fees from our side. Our fees are included into initial price of the property and agreed with the vendor.

Can I view the property before buying a share?

Yes, we would strongly recommend a viewing as soon as possible. Please get in touch to make sure we can organise local team to show you around during your planned visit.

What is the process if I wish to sell my fraction in the property at any time in the future?

You are free to sell your fractions at any time, at a price that you agree with the purchasing party. Re-sale of a share in your purchased property must first be offered to existing owners before offering to a third party. We will assist owners in the sale of their membership if they desire. We have a wide list of interested buyers who are waiting for the right opportunity to come on the market.

What are the annual maintenance arrangements and costs?

To ensure that your Fractional property is always maintained to the highest standard, each owner will contribute towards it. This amount is calculated on the total running costs of the property and then equally divided between owners. This is one of the great benefits of fractional ownership that reduces your liability for the running costs of your estate. It also allows you to arrive at your holiday home and immediately start your holiday instead of getting through the long to-do list. Annual contribution covers various costs, including:

  • Management charge
  • Housekeeping (handover cleaning, linen and towel changes)
  • Essential provisions (milk, bread, toiletries etc. - if requested)
  • Maintenance (depends on the property – specifically agreed)
  • Building and contents insurance
  • Capital reserves (sinking fund for replacements and future decoration)
  • Utilities
  • Company bookkeeping
  • Property taxes
All expenses are charged on an actual cost basis and should be reviewed by owners and planned for the next year. Any differences with expenditure will be either charged or refunded after the accounts are finalised each year.

Are there any extra costs?

If this is a new purchase of property on a company’s name, then you should allocate some extra funds to cover initial costs including Stamp Duty and legal fees the same way when you buy the property on your own name.

If you buy a share of the company that already owns a property, then those extra costs might be already included I a price of the share. Please request some additional information on this matter as it varies from property to property.

How does one book for popular holiday periods e.g. school holidays, and what booking system is in place e.g. first come first served and is there any priority amongst owners?

You will have certain weeks allocated to you each year. However, you will get an opportunity to exchange weeks with other owners, which happens regularly. Furthermore, your weeks can be used by friends and family or rented to a third party.

Are there any ownership rules?

House Rules will be made available as part of the application process.

Who owns the properties at present and what happens if the property company fails?

The free hold of the property, contents and grounds are owned by a non-trading, UK registered, limited liability company which has been established to operate the estate on behalf of all its members, and you will part own that company.

Can I let my weeks out if I can’t be there?

Any periods that you are entitled and are unable or do not wish to use you may either offer these to other shareholders, friends or family with or without charging fees. You can also rent it out through the management company to offset your annual running costs. However, this is not suitable for full time commercial rental.

Property ownership via limited company

This method of Fractional Ownership is reassuringly simple. A group of individuals or families own all the shares in a UK Limited company whose sole asset is the House, Contents and Grounds of that particular property.

The Company owns the property and its freehold and the shareholders, by subscribing for shares, own the company. Shares are held as an asset and can be handed on to your children – and thereafter onto theirs – or they can simply be sold.

Day to day management

A local management company looks after the day to day running of the property. They can provide weekly housekeeping that ensures that when owners arrive for their stay the house has been freshly cleaned, the beds are made and everything is ship shape.

The basis for calculating the forthcoming years charges are laid out within the Shareholders agreement. This specifies that the coming years charges are based upon the previous year’s actual costs + an allowance for inflation.

The current costs for each property are provided in the appropriate Brochure.

Residency Allocation

To accommodate weekend use, all weeks of the year begin on Friday. The “Use Calendar” will then depend on the type of Fractional Plan setup in the “By-Laws” of the Corporation holding title to that real estate. Generally speaking, the number of weeks purchased is directly related to the ratio of shares held by each owner in the corporation. For example, the following weeks per year may be setup for a Fractional Ownership: (Click on number of weeks to see “Sample Calendar”)

  • Two (2) Weeks = 4% Ownership
  • Four (4) Weeks = 8% Ownership
  • Six (6) Weeks = 12% Ownership
  • Eight (8) Weeks = 16% Ownership
  • Twelve (12) Weeks = 25% Ownership