The interest in Fractional Ownership is hotting up and I am writing a lot more about this and talking to a lot of journalists. There are many questions to answer and this is a point about pets in a shared property.
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I am very interested in a fractional ownership in the south of France, perhaps in the Nice area. I like to travel with two small dogs, do you ever consider owners with very well behaved pets?I hope to hear from you soon.
Nancy
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Hello Nancy
Thank you for writing.
Fractional Ownership in France is very new – only a handful of properties, mostly Paris apartments, have been structured and sold in this way.
The reason is the care and precision needed to ensure the way the property is owned and the shares issued give clear and safe legal rights and to protect owners from future tax and government legislation.
I have been working closely with all the major individuals and companies involved in Fractional Ownership in France for the past two years.
Several people have approached me about suitable Fractional properties in Nice and, like Paris, I believe Nice is suitable for this sort of investment.
The question about pets (and children) has been brought up in all owners agreements – same state clearly that pets are not permitted. All agreement can be altered by a shareholders vote, usually by a majority decision. However, most Fractional Ownership properties are in six or twelve (sometimes four) parts and it may be necessary to structure the terms of the initial agreement that all shareholders, nit just the majority, agree to pets (or children).
One way to ensure this would be for you to advertise you desire to buy a property in Nice with a group of other like-minded shareholders – in other words, the other shareholders who accept or wish to have their dogs with them when they come to the property. You may also consider buying a property and then selling shares in it. This is what some owners in Paris have done, very successfully.
I can enquire if other people are looking for your wish – what period of time would you wish to use a property and what budget do you have?
I look forward to hearing from you
Best wishes
Tony