Shared/fractional ownership of a house

[Gail]

I  would like to investigate the pros and cons of shared or fractional ownership. This is not time share but a property owned collectively as a company where individuals can sell separately their share. I have owned a place a France and thought this might be worth looking into  as a cheaper option with shared bills and maintenance. I have come across one ot two properties but wondered if there was a website or agency which advertised this type of ownership. Also does anyone have any experience of thsi type of arrangement. Thanks

[P-D de Rouffignac]

There is a lady based in Paris called Adrian Leeds and her team, who offer a range of services for - it seems largely Amrican -  buyers/investors in France including 'fractional' ownership. You can find her via Google, including her consultancy tarifs. She is the only person I have come across in this sector. Hope this helps.

[5-element]

There alwsays seems to be people who try to do just this -  look into "habitat groupé" - although that might be slightly different from what you are exploring?

[Loiseau]

Friends of mine did this within their extended family, but as far as I recall they organised it themselves. The purchase price was divided up into (I think) 12 shares, and running costs divided up between the shareholders. A couple could buy more than one share, which would give them extra holiday time in the house, and also a proportionately larger share of the running costs.

The upside was that the house was used all year round; a cleaner and gardener were engaged to keep the place spruce.

Slight downside is that all shareholders have to agree on any improvements or refurb. i.e. when some wanted an upstairs bathroom rather than negotiate steep stairs in middle of night, and others didn't see the necessity.

As a guest, i thought the overall feel was very impersonal, as no one was allowed to leave any books, nick nacks etc that usually add personality to a home. Also i think they couldn't leave food in the cupboards, so everyone had to start again with sugar, stock cubes etc.

Overall, though, the family found it very successful.

Angela