A Short History of Fractional Ownership – Part One
Fractional Ownership first appeared in southern Europe in the late 1970’s where it was then known as Co-Ownership [also known by the French term: “Co-Propriete” or by the Spanish term: “Co-Propiedad” or sometimes referred to as “Pro-indiviso”] and was pioneered in southern France, Spain, Portugal and the Canary Islands.
STRUCTURING FRACTIONAL OWNERSHIP OFFERINGS
The three product structures most commonly used to create Fractional Ownership interests are detailed below. These formats have to be considered against the background of the relevant laws governing immovable property within the jurisdiction in which the subject property is situated, as well as any wider regulatory measures which may impact the sector.
DEMYSTIFYING FRACTIONAL OWNERSHIP, PRIVATE RESIDENCE CLUBS and DESTINATION CLUBS – what are they and how do they differ?
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