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I hope that 2010 is a healthy, happy and prosperous year for you, your families and your friends. This newsletter looks at four case studies or examples of property shared in the UK and France. The principles apply equally to sharing boats, motorhomes, aircraft, horses and just about anything. The key to sharing success is good communication between partners at the beginning to ensure they are like-minded and compatible and throughout the life of the sharing arrangement to ensure everyone is happy. In my opinion the best proof of like-mindedness and compatibility is the written agreement or contract. The process of negotiating this is a good indication of whether you can get along with your partners and will uncover any areas of incompatibility. yours2share has developed a suite of templates contracts with internet legal document provider Net Lawman covering property, boats, horses, aircraft, cars, and many assets. As you will see the benefits of a well organised sharing arrangement are considerable.
Share my sea views
Impressions of a new British co-owner This case study comes from a yours2share client, Ginny Blackwell, who runs French Property Shares. Ginny’s client, whom I will call Verity, purchased a 1/9 ownership share with six weeks per year, a three week rotating block between May-October and another three week block between Nov-April. In addition, if there are unused weeks, an owner can request up to two additional weeks of time at no additional cost. The deeded 1/9 share was sold for $62,500. Verity: “I discovered co-ownership by accident. I had become increasingly aware that I had a need, not merely a wish, to be in France. I decided that to rent for a month each year would be the sensible decision. I had fallen for Collioure and south west France having already spent a lot of time in the region of the Alpes Maritime, so I started to research options through the internet. Of course I drifted off onto purchase and renovation possibilities even though I knew that it was neither a financial or practical solution for me, but during that process I found the French Property Shares co-ownership option.” Verity: “It was the right option for me: a manageable investment with shared bills and responsibilities, and no worries around arriving at a home which may have been empty for months with consequent damage or vandalism. It was also a responsible decision because I was not buying a house which I would then leave empty for most of the time. I immediately booked flights and a hire car and went to visit the house. I spent four days exploring the area, it was so beautiful and I found so much of interest that despite minor reservations about the house, which have already been resolved, I returned knowing that I wanted to make the purchase.” Verity: “I had come across co-ownership schemes with ski chalets in Maine but nothing in the UK and did not understand the legal background or the purchase process. This caused my biggest wobble with concerns about ownership of the land rights and what a bill of sale actually entailed. After many conversations and learning about the LLC set up and seeing the Operational agreement I made the offer. From first sight of the advert to receiving the key was about six weeks.” Verity: “Luckily there was an unused week only three weeks after my purchase and I could visit my new house. I arrived late to find it alight and welcoming, arranged by the local 'concierge', and wine and sausage in the fridge left by the previous occupants. It was a delight. The first days included reading all the written information, getting to know the house and investigating the books, guides and the cupboards. Ginny had assured me that I would feel like an owner not a renter or visitor, but really I felt as though I had inherited something rather special. My overwhelming feeling is that it is like belonging to a select club. I am very happy with my decision and am already wondering if I shall want an additional share some time in the future!” yours2share is currently advertising 1/13th shares available a three bedroom villa in Manzanillo, Colima, Mexico for French Property Shares. Landshare in France Phil and Hilary posted a landshare ad on yours2share a few weeks ago and we’ve had a few phone calls about this unusual landshare since then. They have a four and a half acre smallholding on the Cotes d'Armor/Morbihan border, about halfway between Pontivy and Rostrenen in Brittany, northern France. The land is very fertile, well drained and has been run organically for at least the last six years. Phil: “Due to me having a major life-saving operation last year, my wife and I can no longer farm this land the way it should be. Therefore, we are offering part of our land and possibly outbuildings as Landshare. In the past, we have had pigs, a small flock of sheep, have raised most fowl from table and laying chickens to turkeys, geese and guinea fowl; at one point we even had quite a few rare breed chickens. However, since my operation, we have got rid of all our larger livestock and now just have half a dozen geese, ten ducks and two hives of bees.” Phil: “We have over a dozen cultivated vegetable plots, each measuring a metre and a half wide and up to thirty metres long. This year we have only used eight of them and the rest have been covered over to prevent weed germination. We have a fifteen metre by three metre double-doored polytunnel, a small outdoor lambing shed, a purpose-built pig house within its own double-fenced paddock, with the opportunity for plenty of free range rooting; six separate chicken houses with their own fenced run, and a traditional stone built barn, which does need a bit of work doing to it but is still usable. We have used it for raising young Christmas turkeys in the past and, at present, it houses our Bio Diesel processor. We also have a Kubota mini tractor with 1.2 metre rotavator and utility box; all of the above could be used by the sharer on agreement.” Phil: “We want to see our land being used to its full potential. In the last two years, the only thing that's happened is the local farmer taking our grass for hay. This year, he took over a dozen large bales of superb hay. We are interested in discussing any sort of sensible project apart from planting trees, as this is not practical here.” You can see Phil's ad here. Sharing a second home
And finally, here are a few of yours2share's recent ads that I really like. Selected ads are entirely my choice and ads with a good photos are always more likely to be picked!. |
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If you enjoyed reading our newsletter, please forward it to friends and
colleagues. We are always delighted to receive feedback. Kind regards S E Garrett yours2share share valuable assets with like-minded people |
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