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!)
is a well established idea.
For years groups of families and friends have clubbed together to buy
properties, boats, cars, horses and other valuable assets. Now some
real estate developers, boat manufacturers and brokers, aircraft manufactureres,
and a few specialist brokers are offering to put strangers together
to buy assets in syndicates.
Below are links to extensive guidance about creating the perfect sharing
arrangement. The most important aspects usually apply to any asset;
so although the example might be a different asset type to the one you
are considering sharing, the principles may well be relevant to you.
Templates for sharing property, aircraft, horses
and boats are already available.
So if you can't afford or justify the expense of owning the property,
boat, car, necklace etc outright, and/or the large fractional schemes
and syndicates don't really fit your requirements, and/or you haven't
got any appropriate family or friends to buy with, then it may have
been hard to make fractional ownership work for you. Now yours2share
allows you to find like-minded people with whom you can share exactly
what you want, how you want and where you want.
The information on this page, and the whole of the yours2share website,
is based upon the laws in England and Wales
only. However the law in Scotland and Northern Ireland is similar.
The laws on joint ownership and renting, both of property (buildings
and land) and possessions (chattels or personal property) vary from
country to country. You need to get independent professional advice
on both legal and financial aspects specific
to that country. Make sure that there is a legal and financial
framework for the sharing agreement you are contemplating that protects
you properly.
For professional advice about fractional ownership property in the UK
or overseas, yours2share has arranged a special price with industry
leader Best Group
for an initial consultation. For further information, please contact
us.
What issues need to be covered in a Trust
Deed (or Declaration of Trust) for joint ownership of any asset?
Other issues relating to fractional or joint
ownership
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