Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Fractional Ownership; How It Operates and Tips on Buying Such Property

By Graham Lamont Subscribe to RSS | February 18th 2012 | Views:
loading
 
  



This type of ownership allows you to have a quarter, a fifth or even a 25% share in the property you dream of. This can apply to anything, a car, hatch, home or even a handbag. Basically fractional ownership allows you to use property for a certain period of time each year, this can be a few weeks or a few months, depends on the number of owners. The owners are free to enjoy the property the way they like. There are no restrictions as to cleaning it or decorating it. The maintenance and bills of these kinds of properties are handed over to a management company in exchange for a yearly fee.

How does this operate?

In this kind of ownership, a number of strangers come together and purchase a long lease for a percentage of the property, for example for 999 years. The freehold of this property is maintained by a management company. Where the lease is for a short time, like 5 years, then after this time period the property will be sold and the profits will be shared between the owners.

Moreover, owners can sell their shares whenever they want to and come out of the deal. This will be done through the management company or an estate agent. The share in this kind of property can also be passed on like any other property after a person’s death.

Mostly these kinds of properties have four to five owners but in some cases it has even exceeded then fifty. Importantly, fewer owners mean high price and at the same time more access to the property.

Fractional ownership of a country cottage in Edinburgh

These fractional ownership deals are straightforward. People tend to convert these kinds of properties into holiday spots. They consist of a hotel which is surrounded by fractionally owned cottages. These kinds of holiday homes are in demand but sadly enough, they are empty most of the time. However, in a country like Edinburgh, the festival season gets them fully booked.

Fractional ownership in smart locations

Properties are also available for fractional ownership in smart locations. These consist of modern buildings. Mostly this offers a share in an apartment, allowing access for around 2 weeks in a year. After this the property will be sold.

Tips on buying such a property

You should go through all the legal checks, get the property survey done, look at its running costs and most importantly get an independent legal advice. Also you must ensure that there will be no barriers when selling the property. You must also decide on the allocation of the weeks, and if you will be happy with it?

Graham Lamont - About Author:
Graham Lamont is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on Edinburgh Property, please visit edinburgh to let.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/fractional-ownership-how-it-operates-and-tips-on-buying-such-property.htm

Related Business Articles Subscribe to RSS

Why destin florida homes are best and great choice for buying property
Published by Dany on May 11th 2012 | Business
If person wants to buy any property in Destin Florida then person should read this informative and w...
 
How to choose an area when searching for property to rent in Edinburgh
Published by Ann Clark on April 19th 2012 | Business
This article is concerned with pointing out all the relevant factors that you must take into conside...
 
Real estate agents in Walsall lead you in investing property
Published by Redstones on January 21st 2012 | Business
Lettings franchise offered at Redstones letting agents, one of the leading estate agents in Walsall ...
 
Try Being a More Energy Efficient Tenant in Your Edinburgh property
Published by Calum Rendall on April 2nd 2012 | Business
Many of us have gone through the troubles of credit crunch recently and this has taught us to be ene...
 
Costa Rica Real Estate : Tips to help you find the perfect property for yourself
Published by Kristine on January 17th 2012 | Business
Over the past few years, there has been an overwhelming attraction to Costa Rica real estate. More a...
 
Making the best deals in Orange county property
Published by Joy on February 3rd 2012 | Business
Orange County is now counted as one of the top choices to buy property in the entire country, thanks...
 
Considering Details of the Tenancy Agreement when Renting Edinburgh property
Published by LauraCampbell on February 29th 2012 | Business
When a landlord and a tenant reach an agreement with regards to a property, they put it in writing i...
 
Do you require Building Surveyors to help with a property purchase?
Published by on June 16th 2012 | Business
Buying a new home or business premises is one of the biggest financial decisions people can make, an...
 
The Importance of Letting agents and Residential property management Dublin
Published by Leslie Hoffman on January 14th 2012 | Business
Hiring experienced letting agents and residential property management Dublin is extremely important ...
 
Add value to your property with a superb extension using the very best architectural service London at Just Extend Your House Ltd
Published by James Blee on July 27th 2012 | Business
We are all well aware that the economy in the UK is at an all time low, credit and disposable income...
 
Mini self storage Beale AFB: vital to safe property from climates & other difficulties
Published by Erleroadself on November 30th 2011 | Business
Since Mini self storage Beale AFB is essentially helpful for individuals who are planning of moving....
 
A Real property and unique property
Published by Rosy on August 16th 2012 | Business
The Montreal assets Blog is concerning this market conditions in Montreal and also the neighborhoods...
 
Contact Letting Agents Sutton for a one-stop property service
Published by James Blee on August 20th 2012 | Business
Looking for your first rental property and not sure what to expect from Letting Agents Sutton? Know...
 
An anecdote of ever-blooming success of residential property in Pune
Published by Jamesalexjendra on July 20th 2012 | Business
We can expect an unprecedented rise in the unavailability of residential property in pune due to inc...
 
What an intellectual property law firm does?
Published by Adli Law on March 27th 2012 | Business
The law firms often provide the proper consultation to their clients before finalizing the case. The...
 
Construction and Real Estate Litigation firms- a helping hand in property disputes
Published by Robert Doran on January 18th 2012 | Business
The article mentioned above discusses about the construction and real estate litigation firm. It als...
 
Some legal advices for tenants of property to rent in Scotland
Published by Cathrine Mckay on June 6th 2012 | Business
There is always a tenancy agreement between a tenant and landlord. The tenant is always safeguarded ...
 
Mistakes to avoid while choosing property management North Shore companies
Published by Jack on August 15th 2012 | Business
Choosing the best property management North Shore company is not an easy task. Learning more about t...
 
Incredible returns on investment in commercial property in Mohali
Published by Deepti on March 23rd 2012 | Business
Undoubtedly real estate Mohali has witnessed tremendous growth and development in the last few yea...
 
Take hold of the best property in Mohali at affordable rates
Published by Deepti on March 30th 2012 | Business
Mohali is attracting individuals from all over India now, be it the investors for the commercial inv...