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Trust deeds and sharing agreements – Part 1

| Guidance | October 16, 2012

Covers “who owns what”, exit strategies, allocation of costs, what if the asset is damaged, no claims bonuses and Collective Investment Schemes.

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Trust deeds and sharing agreements – Part 2

| Guidance | October 16, 2012

The issues relating to the use of the asset that need to be covered in a Trust Deed or sharing agreement?

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Trust deeds and sharing agreements – Part 3

| Guidance | October 16, 2012

The issues relating to fittings, handover and condition reports that need to be covered in a Trust Deed or sharing agreement?

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Trust deeds and sharing agreements – Part 4

| Guidance | October 16, 2012

The issues relating to meetings and disputes that need to be covered in a Trust Deed or sharing agreement?

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Fractional ownership of property or real estate

| Guidance | October 16, 2012

Fractional ownership (joint ownership, shared ownership, co-ownership, group ownership, multiple ownership, interval ownership, asset sharing partial ownership or part ownership, to name but some of its many terms!) of property or real estate is a well established idea, which is also now often called collaborative consumption.

Here are the listings of boats, aircraft and properties available to share.

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Buying shares: how do I know they own it?

| Guidance | October 16, 2012

You need to see the sharer’s proof of ownership of the asset and clear evidence of genuine full title to the asset so that you know about any outstanding loans secured against the asset.

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Investment options for fractional ownership and fractional rent

| Guidance | October 16, 2012

If you lose money as a result of attempting to set up or entering into a sharing agreement or syndicate, yours2share has no liability for your costs. yours2share is simply the “matchmaker”.

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Legal advice

| Guidance | October 16, 2012

yours2share strongly recommends that any sharing agreement is recorded in writing and that all sharers take professional independent legal advice before signing any sharing agreement. This is standard practice for purchase of real property and is also essential for the purchase of other high value assets.

What are the possible sharing agreements available?

| Guidance | October 16, 2012

There are three fundamental mechanisms for sharing all assets:

  • Joint ownership by all parties (co-ownership, shared ownership, partial ownership or fractional ownership)
  • One party owns and the other(s) pay for use or occupation through a licence, lease or hire agreement
  • Shared use, where no money changes hands, as both sides benefit in other ways.

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Obtaining the right fractional documentation

| Guidance | October 16, 2012

yours2share strongly recommends that any sharing agreement is recorded in writing and that all sharers take independent legal advice before signing any sharing agreement. This is standard practice for purchase of real property and is also essential for the purchase of other high value assets. Aside from the legal requirement involved, it simply ensures that each party knows where the other stands and helps to avoid disputes in the future. The contract is your proof that you and your partners are like-minded and compatible.

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