Fractional ownership is for people who don't want to pay for 100% of a second home when they only use it 20% of the time, are happy to share the ownership of a valuable, unique real estate asset while a third-party looks after the maintenance, the rates and insurance.

If you are in a hurry, you can learn more about fractional ownership:

  the fractional ownership FAQ (900 Kb)

Is this another "timeshare" venture?

The Domaine du Stang is offered as a luxury fractional ownership proposition. This differ greatly from the old-style timeshares. The primary differences are that like all fractionals, the Domaine du Stang offers:

• deeded property, with the same rights as any other real estate purchase

• greater chance of property appreciation

• a longer amount of time on the property (6 weeks for an eighth ownership, 13 weeks for a quarter ownership) than timeshares

• a luxury level of furnishings, services and amenities

How does the fractional ownership agreement work?

French law allows to share ownership of a property through a Société civile immobilière d'attribution à temps partagé or SCIATP. In fact, the right to occupy the property at agreed times stems from the ownership of shares in such a company.

Do I really have complete property rights?

Each owner has an undivided interest in the freehold title that provides all the legal rights of property ownership. You own your quarter interest individually and exclusively under the most common form of residential ownership in the country.

When can I occupy the property?

It’s pretty much available to you throughout the year. Your 12 weeks a year are allocated by the calendar. Each owner has priority over 2 fixed weeks (i.e. the same weeks each year) - typically this might be a summer holiday fortnight or perhaps a week in May and one in Septermber. The rest of your weeks rotate so that priority over Christmas/New Year, Whitsun, Easter, half-terms weeks is spread between all the owners of each unit on a four-year cycle. Two weeks are set aside for maintenance.

So, in a four year period each owner of a unit will have priority over each week except for his co-owners' 6 fixed weeks. It would be normal for owners to trade weeks with each other so as to build two or three week holidays at their favourite time of year. This can be done on-line - or simply call up the Domaine du Stang management office. The aim is to give you maximum flexibility over how and when you use your property.

How is the property managed?

Overall management of the SCIATP du Domaine du Stang is in the hands of the gérant who basically takes the place of a director of an English company. It is his duty to act on behalf of the SCIATP, subject to such limitation as may be placed on his powers. The gérant’ function is to ensure that the house is properly cleaned after each use and prepared for the next owner. He also pays bills, schedules repairs and keeps the books on the owners’ behalf.

The gérant is responsible to report to the shareholders when the annual accounts are submitted. The gérant is assisted by an Executive Committee composed of 4 shareholders whose task is to advise him or the shareholders on all matters relating to the management of the SCIATP. This Committee is the recipient of the SCIATP's accounts and may call for production of all documents and papers affecting the SCIATP. The SCIATP will be liable for taxe foncière (property tax) and taxe d'habitation (local authority tax) but, unless it has income - which is not planed at this stage - for no other French taxation.

How are the operating costs split between the owners?

The cost of maintaining and managing the property will, as with the local taxes, be shared out among the shareholders in proportions which will reflect their share and the length of each period of occupation. The gérant arranges for the collection from each shareholder of his share of expenses through payments on account in advance.

What is the estimated annual service charge?

The annual service-charge varies each year. The estate has a complete breakdown of the estimated costs. The service charge includes such items as council tax, gardening, insurance, bookkeeping and a significant amount reserved for future maintenance and replacement of household items and furnishings. In other words it's your share of the annual property costs.
The typical annual service charge – including a reserve fund contribution - for a 2-bedroom unit at the Domaine du Stang is approximately €8,000 per quarter owner. There are simply no extras.

centre. The equestrian centre is a separate legal entity, run according to the same rules than the estate, and managed by the gérant. Hence the running costs the equestrian centre are separate from the general accounts of the estate.

To find out more read about fractional ownership in:

  the Financial Times' How to spend it

  the New York Times

  the International Herald Tribune