Fractional ownership is when unconnected individuals (usually 4) combine resources to collectively share ownership of a property.

Timeshare is the purchase of a specific period of time in a vacation home or resort and you never own the bricks and mortar of the property. In many cases, you will never stay in the same property twice. The key difference between timeshare and fractional ownership is that with fractional ownership you own a percentage of the property. Your asset may increase in value, may be sold and may be passed on to future generations.

There are a variety of benefits:

·      You have extended use of a luxury holiday home for a fraction of the price you would normally pay

·      You have an asset that can be sold or handed down to your children

·      You do not have to pay all the year-round running costs of owning a full property

·      Any buying costs are included in the purchase price

·      All properties are fully furnished and equipped to exceptional standards

·      The property will be managed and maintained on your behalf and is fully serviced

No. Although in practice many co-owners communicate in order to discuss things regarding the property - via a WhatsApp group, for example

At the outset, each owner is allocated time at the property through an agreed usage schedule (often referred to as a rota or usage chart), which forms part of the purchase arrangements.

This provides clarity from the beginning as to how time is shared between owners.

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Flexibility over time

Importantly, these arrangements are not intended to be rigid or fixed indefinitely.

The usage schedule can be reviewed and amended by agreement between the owners, allowing it to evolve over time to reflect changing preferences or circumstances.

You can agree to swap some of your weeks with your co-owners or you can usually rent the property out during any time you don’t want to use it.

Your property will be looked after by an experienced management company.

The management company intervenes in the event of any dispute involving the property.

Yes, but you will be obliged to offer it to your co-owners before it is put on the open market.

The management company will replace any damaged furniture etc. using the money in the owners’ sinking fund.