Le Bail Emphytéotique
Our Gites are being sold using a uniquely French construction called a "Bail Emphytéotique" which is a sort of a leasehold that comes very close to full ownership. It comprises two parts- the Bail itself which deals with the specificity of the lease and it's entitlements etc. and the "indivision réglementée" which is a contract between the co-owners and ourselves dealing with usage.
Both these documents will be yours to examine freely should you wish to participate. We will of course be using a reputable French notary to oversee the whole procedure and they are very thorough and very rigorous.
The Bail itself is fairly obvious, it contains the boundaries and permissions of the building itself and can be thought of as sort of deed which can also be used to raise a mortgage. It can be transferred or sold on subject to our granting permission to do so. We can't immediately envisage circumstances in which this would happen but the common interest of the co-owners has to be respected.
Of course we have no idea who your co-owners will be but they all will have undergone due diligence tests.
The "Indivision Réglementée" is a legally binding agreement dealing with all the the things you would expect it to. The fiscal and municipal obligations (which will be taken care of by us along with things like insurances, wifi, utilities etc.) what happens if something breaks down; if there's a problem; if someone doesn't fulfil their obligations; what you are and are not allowed to do etc. etc.. There's a lot in it and you'll have time to consider it properly but if you have any specific questions we're happy to answer them for you. We want you to feel happy, amazed and delighted- it's what it's all about after all. Please check out the Site Fees & FAQs for more information.