We’re working with internet document provider Net Lawman to produce a suite of template fractional agreements for people to use to set up sharing arrangements. The latest pair are for sharing light aircraft and helicopters and are available here. There are two versions, one for two people and the other for three or more people. When there are more than two people, the arrangements for managing the agreement are greater. You need to agree how often and where you will meet and what you will decide at each meeting.
We currently have eight fractional template contracts available. As with aircraft there are two versions for boats. For property/real estate there are two types: for sharing holiday homes, where the property is shared by time, and for sharing permanent residences, where the property is shared by area. For both these types there are again two versions, for two people and three or more people.
Templates for sharing horses will be available very shortly and we are also working on templates for sharing cars and for fractional rental of property. These latter templates will cover two scenarios. The first is for lodgers who share a property with the owner by using part of the property for a fraction of the time. The most common scenario is Monday to Friday lodgers. The second is for lodgers who use the property when the owner is not present for a fraction of the time. There are many scenarios for this, for example, renting a country cottage every other weekend.