Welcome, visitor! [ Register | Loginrss  | tw

Buying a share from someone who owns the whole asset

| Boat share, collaborative consumption, Property, shared ownership, sharing | February 14, 2013

(I’m going to use boats as my example in this article because using the word “asset” over and over again gets truly tedious, but the principles apply to holiday homes, motorhomes and other assets.)

These tricky financial times are not receding as quickly as everyone hoped and many boat owners are wondering if they can justify keeping their boat or if they need to sell to extract some equity (or reduce their debt). They will also be aware that selling their boat might take a long time.

Most owners don’t even consider selling one, two or maybe three shares. I’m not saying that finding the right partner is going to happen overnight either. But with a little patience, it can be an excellent alternative: the owner keeps their boat and gets some equity.

Most “original” owners fully understand that they need to ensure that their new partners feel equal in the syndicate, but there are some who never really accept that the boat isn’t still entirely theirs and buyers should be alert to this. As with any sharing arrangement, there needs to be extensive discussions to work out all the aspects of the sharing arrangement and this should in turn be recorded in the contract. During this process, the new partners also need to assure themselves that the owner is really willing to share!

I’ve spoken to several people who’ve sold several shares in the asset they previously owned outright and the best method I’ve seen is for each partner to be bought in one by one. For example, say the ideal is to sell three shares so the boat ends up with four owners each with a quarter. The owner finds the first partner who buys half the boat and agrees with the plan to bring in two further partners. The two partners then look for the third partner, and when this sale nets a further third of the value of the boat, this is split between the first two partners. The three partners then look for the fourth partner, and the proceeds of the sale of the quarter are split between them. The contract is amended as necessary at the sale of each share.

The advantage of this process is that at each stage all the existing partners have an equal say in all matters. If each partner simply buys a quarter share, then the original owner inevitably has more control and may be able to push through the sale of a share to a partner that isn’t acceptable to the others. The other alternative is to wait until all three new partners are available. However this might take some time and there is the risk is that the first potential partner gets fed up waiting.

Many owners think that the potential partner will be unwilling to make this greater investment and indeed some will be unable to do this. But if I was that potential partner, I’d prefer to buy the half at the outset so that I knew I had equal input on decisions down the line.

As with all sharing arrangements, there are many ways of doing things, and all require an investment in time, discussion and negotiation to discover the best solution for a particular group of partners. The pay-back is that when set up correctly the vast majority of syndicates work really well, providing much joy, very cost effectively, for many years.

Second homes with a social conscience

| Help, Property | October 24, 2012

Many people who consider buying a second home (or vacation home) face a dilemma.

Even if you can afford exactly what you want, and justify the expense, it often feels socially, environmentally and even morally wrong to have a home lying idle for the majority of the time and not contributing to the local community.

Continue reading »

Vacation home sharing and fractional ownership

| fractional ownership, Help, Property | October 24, 2012

This detailed article covers many issues relating to fractional ownership of property or real estate. Although some aspects are very specific to the USA, particularly the sections on finance and taxation, it gives an excellent all round view of fractional ownership and the issues you need to consider. Here are the current fractional property or real estate listings.

Continue reading »

Case study: successful property sharing in France

| Case studies, Property | October 16, 2012

This case study is about a French property which was sold in tenths by a regular yours2share advertiser Ginny Blackwell of FrenchPropertyShares.com. Ginny advertised shares for sale in Maison Bleue in Quarante, Languedoc, France in 2007 and 2008

Maison Bleu is a three storey, three bedroom, three bathroom village home in Quarante, a small historic village with all services, only 30 minutes from the Mediterranean beaches and near the Canal du Midi. Narbonne is 30 minutes drive and it is 45 minutes to Carcassonne, with easy connecting flights to London.

Continue reading »

Case study: sharing a second home, Sheldon Manor in Wiltshire

| Case studies, Property | October 16, 2012

Sheldon Manor was one of the very first properties to be advertised on yours2share, offering its cottages as second homes for fractional rental. Sheldon Manor is Wiltshire’s oldest inhabited manor house with a 13th century porch and a 15th century chapel.

Continue reading »

October 2008 Dream golfing properties

| collaborative consumption, fractional ownership, joint ownership, Press, Property, shared ownership | October 10, 2012

October 2008

Keen golfers often dream of owning the perfect villa within putting distance of the clubhouse of their favourite golf course, but many have difficulty justifying the cost of buying exactly what they want. Sharing a property with other like-minded golfers makes a great deal of sense and new website yours2share.com enables people to find compatible partners.

Continue reading »

June 2008 Making your dream a reality

| aircraft share, Boat share, collaborative consumption, environment, fractional ownership, fractional rent, Monday to Friday, Press, Property | October 10, 2012

June 2008

Have you ever wondered what it would be like to own the yacht, villa or classic car you have always wanted but without having to fork out the entire cost?

Many people dream about owning a boat on the South coast, having a sports car convertible, owning a holiday home in the Mediterranean or a beach hut in sleepy Norfolk, but for many these luxury assets are just a pipe dream.

Continue reading »

February 2008 Escapism proves popular

| collaborative consumption, fractional rent, Press, Property, sharing | October 10, 2012

February 2008

Advertisers on original website yours2share have been delighted with the response to early ads for fractional rental of second homes. Some people dream of owning a traditional holiday home as a means of regular escapism. But if this is too expensive, fractional rental provides an attractive alternative.

Continue reading »

July 2007 Making sharing homes, boats and aircraft easier

| aircraft share, Boat share, collaborative consumption, fractional ownership, Press, Property | October 10, 2012

Innovative website yours2share goes live this week, with a service that enables owners of property, aircraft, boats and other valuable assets to get more for their money.

More people than ever own or aspire to own a second home, boat, aircraft, sports car, mobile home, fine art or a whole range of valuable or luxury items. So a new trend is emerging – fractional ownership or fractional renting. Both involve sharing some (or all) of the asset, some (or all) the time. yours2share makes it easy for people to do this.

Continue reading »

July 2007 Making second homes more environmentally friendly

| collaborative consumption, fractional ownership, Press, Property | October 10, 2012

Innovative website yours2share goes live this week, with a service to help property owners make better use of their assets. yours2share believes that second homes can be more environmentally friendly and more acceptable to the local community if they are used more efficiently.

Even if people can afford the country manor house, which they only use for occasional weekends, they often find this a lavish waste of resources that pricks their environmental, social and moral consciences.

Continue reading »

Page 1 of 41234

  • New blog (with all the old posts)

    by on February 13, 2008 - 0 Comments

    Welcome to the new yours2share blog, which has all the old postings from the old blog but is now a fully fledged self hosted Wordpress.org blog rather than a Wo...

  • Sharing in action

    by on January 31, 2010 - 1 Comments

    Do you share a house, car, motorhome, boat, aircraft dog, horse or anything else? I’m always looking for examples of sharing in action to blog about on yours2sh...

  • Newsletter archive

    by on February 18, 2011 - 0 Comments

    I've been writing a newsletter for yours2share for nearly four years now.  Except for the first few months all of them have been managed through the excellent C...

  • Home sharing

    by on June 11, 2010 - 1 Comments

    A couple of weeks ago I wrote about our couch surfing experience with Australians Jeff and Gerda.  As we chatted over dinner, conversation turned, as it so ofte...

  • Successful horse sharing

    by on March 26, 2010 - 0 Comments

    yours2share now has well over 300 horse share ads, from all over the UK, from Devon to Ayrshire and Cardiff to Surrey (lots and lots there!) I’ve recently spo...

yours2share is not currently taking any new ads