Fractional Ownership

A hybrid of direct ownership and time-sharing, fractional ownership combines the best elements of both. The primary differences are that while timeshares involve many shares in a large complex with resort-like amenities and costs built specifically for that purpose, fractional ownership is joint ownership by only a few individuals in a single property whose value can easily be determined on the open market.

Once your factional group is complied, there will be a few things that will happen:

First, we'll offer a Property Concept

Our team will offer a property "CONCEPT" to search and find a property that would be shared between only a very small group of owners (a purchase pool)—four to six:

Here's an example of pre-determined requirements by the group:

CONCEPT NAME: PIED-A-TERRE IN LE MARAIS

SIZE: 35 to 45 square meters (377 to 485 square feet)

ROOMS: two rooms – one-bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen

LOCATION: Le Marais, districts 3 or 4

LEVEL: No higher than 3rd floor (European) without an elevator

BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)

AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts

COST: 4 shares, 135,000€ each, 3 months of usage per year 5 shares, 108,000€ each, 10 weeks + 2 days of usage per year 6 shares, 90,000€ each, 2 months of usage per year 

Total 540,000€

USAGE: Owners determine their own usage calendar and have complete flexibility to arrange their calendar among themselves

CONCEPT DETAILS

• FEES (Paid in Euro):
  • Full price of the property including agency fees.
  • All notarial and legal fees.
  • Property search and consultation fees.
  • Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.
• Members of the purchase pool must be willing to invest the full amount of at least one of six, one of five or one of four shares to be held in an escrow account to fund the property search, purchase and renovation.
• The search will commence upon commitment in writing and receipt of funds from all members of the purchase pool with an agreed-upon allowance for a minimum of 90 days to locate the property.
• Upon location of a property that fits the parameters, a memo with photos and description of the property will be sent to all members who may decide at that time to approve or decline the property in a timely manner – within 48 hours of receipt of the memo. Any group which is able to approve the found property with a combined total of the purchase price will enable the purchase process to proceed.
• Members of the purchase pool will provide proxy to the Adrian Leeds Group, LLC to sign notarial documents on their behalf: the Promesse de Vente and Acte de Vente – allow 3 to 4 months to completion.
• Three decor concepts that fit within the renovation budget will be presented to the purchase pool for voting and will be executed by the interior architect and construction team. Any choices made by the purchase pool outside the framework of the budget will be charged over and above the initial fees. Allow 2 to 3 months to completion.
• Members of the purchase pool will appoint one spokesperson for the purchase pool to make day-to-day decisions and act as a liaison between all members of the purchase pool.
• Upon completion of the sale and renovation, the Adrian Leeds Group will offer, at an additional expense, to oversee the maintenance of the property, provide housekeeping between owners’ visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.

We can help any group of owners to find and organize a fractional ownership property of any size or in any part of France. In this case, however, the owners must have already formed a group large enough to support the purchase of the property and not depend on our marketing to “sell” any shares.

Each property has its own and different copropriété charges shared among the owners by a percentage that relates to the size of the apartment compared to the entire building. This information is disclosed at the time of offering, but may change as the homeowners association votes the budget on an annual basis.

As with homeowners association fees, each property has its own and different tax basis. This information is disclosed at the time of offering, but may change on an annual basis.

Insurance costs will depend on the needs of the owners. Reputable insurance firms will provide estimates based on the level of coverage determined by the owners.

That is determined by the owners, who have total control over how they wish to manage their won property.

Our Concierge Service will be happy to make a proposal to manage the property at whatever level the owners wish, however, the owners are free to contract any service at any level. Learn more about our services here.

A small space for example could be 35 to 45 square meters (377 to 485 square feet). For stays longer than two weeks, no. A comfortable one-bedroom apartment with possibly a sleeper sofa or “Murphy” bed in the living room is great for short stays for more than two, but two is best.

No. There is actually very little inventory out there. We are one of the few developers in France for fractional ownership properties. When shares become available in a fractional property we manage, we can offer it to clients.