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Shared Ownership

Discussion in 'Buying Overseas Property' started by clayton, Sep 6, 2006.

  1. clayton

    clayton New Member

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    Hi Everyone,

    I read a few weeks ago in The Mail ( which is published here in FL) that SharedOwnership is becoming popular in British people wishing to share villas, ect..

    Does anyone know of any companies that specialize in this ?

    We would dearly love to own a European villa ( anywhere warm) however would not need to use it all year round and would not want the hassle of renting it out.

    A 4 couple share would be ideal to split the weeks and use it when its your turn,

    Any info would be appreciated,
    Thank you
     
  2. casey

    casey New Member

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    Hi Clayton,
    I live in Menorca, Spain. If you send me a private message with your email address I can send you a few pages of information regarding shared ownership here on the islands of Menorca and Mallorca. It seems to work very well as it's much safer than time sharing and the owner's are actually on the deeds, thus legally protected and can sell their shares and participate in the benefits.

    Regards!
     
  3. cerroazul

    cerroazul New Member

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    I have a property in the Algarve, Portugal and I'm looking for people to come in with me as fractional owners. Please contact me (I can't put my email address here as the site says I need to become an active member?) and I'll send you a promotional flyer (07912 116070).
     
  4. dave99

    dave99 New Member

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    Time share do I hear someone shouting !!

    Well maybe not quite timeshare but getting close.


    All sort of legal issues I suspect so it's will be interesting to see any post coming back.


    I'll post this on Egypt forum see if there are any takers.

    ..
     
  5. cerroazul

    cerroazul New Member

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    Think I've got the shared ownership legals sorted, thanks to yours2share(dot)com just need to find other people to invest. Sorry for rubbish link but the system won't let me post a website (or email), duh!
    And no I have no affiliation with this site its not some sort of advertising blurb before I get loads of posts back about it, I just found them useful thats all.
     
  6. dave99

    dave99 New Member

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    Anyone interested in Egypt ???

    Just had a quick look at yours2share - fractional ownership, fractional rental, shared employment, boat share, yacht share, fractional resale - have you got as far as finding out what is different in different countries for sharing the ownership.

    ..
     
  7. cerroazul

    cerroazul New Member

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    I've already spoken to a UK solicitor (who has experience in the Portuguese market) and he advised I transfer the property into a UK Ltd company and then deal with the shared ownership issue under UK law
     
  8. dave99

    dave99 New Member

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    Good luck with that idea

    Good luck with that idea

    You'll need to become "the company" and then you're the man in the middle unable to leave it behind etc.

    Not many countries will be able to make this idea work - sales contracts are usually goimng to be in local country law only.


    ..
     
  9. awahee123

    awahee123 Banned

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    I think you will find it is better to apply all the legal stuff within the country of purchase,otherwise you will face a lot of legal complications.
     
  10. Geoffrey jones

    Geoffrey jones New Member

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    co ownership

    I have apartments in Bulgaria, and India Goa, and some land in Turkey.:)
    I am interested in finding co owners for any of these.
    I will be looking at the site y2share Thanks.
    Also looking further to invest in USA, and open to any ideas any one has on other countries worth investing in.

    Geoff.:D
     
  11. John

    John New Member

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    Would you mind explaining more about the complications involved?

    I was of the opinion that as a "separate legal entity" a company would have the same rights and obligations regarding ownership of a property as a person would have. Apart from problems with mortgages criteria, I cannot see where else there would be problems.
     
  12. awahee123

    awahee123 Banned

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    Hi John,

    I was referring to shared ownership,if you are arranging shared ownership of a property does it not make sense to do all the legal stuff within the laws of that country?
    I think it makes sense to do this,what do you think?
     
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