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-   -   Any ideas!!! (https://www.forum.puertopollensa.com/living-working-pollensa-area/5048-any-ideas.html)

erasmuser 04-08-2009 17:15

Any ideas!!!
 
Any ideas on how a group of us could buy a property in Pollensa that we can all share anytime we need to?

Can anybody help with ideas/suggestions?:)

Gommar Goffer 04-08-2009 17:51

I am afraid that I have no need to - but I will watch this thread unfold with interest ;)

GG

allanglens 05-08-2009 11:30

It is easy enough in principle, but in practice needs to be done very carefully to avoid problems at a later date.

There is an established concept, called fractional ownership, and from recollection Barnard Hamilton have put a property (or more than one) to the market on this basis. This is aimed at individuals who want (or can only afford) to have more than a timeshare week, but less than full ownership. You might well be advised to look at their model, since even going in with family / close friends you will still need a framework to deal with a number of matters.

Off the top of my head you need to consider - title issues; allocation of use; maintenance; refurbishment; onward sale.

From business experience if you double the number of people involved you square the number of potential problems!

allanglens


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