How it works

Chateau des Lys Co-Ownership

 

The Gites Cottage and Grenier will be leased to 10 individual co-owners each.

 

Your weeks will be allocated to you by us and rotated so that everyone gets a fair crack of the whip. This has all been well road tested under similar co housing arrangements and in practice works well once you're used to it.

 

Site fees include everything we can think of- please visit the site fees page for more detail. For further clarification try Faqs.

 

You can use the Gite however you wish as long as you don't break the mutual agreement which is designed to protect you and everybody else. This means that you can lend or sub rent it out to friends and family should you wish as long as anyone using it abides by the mutual agreement which we all sign.

 

Should you wish to sell on within the lease period you are allowed to as long as the new co-owners undergo due diligence tests and abide by the same conditions for the remainder of the lease.

 

Under French law the "Bail Emphytéotique" comes very close to full ownership, you have the right to establish a mortgage on the property.

 

The co-ownership construction comprises two parts, a French "Bail Emphytéotique" governing the financial aspect and a mutual agreement (or " l'indivision réglementée" in French) which covers the usage aspect ie the details of such things as usage, rotation, insurances, maintenance, local taxes, bed linen, house rules like no smoking etc. etc. Please check out the dedicated pages dealing with these.

 

If you wish to participate your funds will be held in escrow by us until enough shares have been sold to proceed. Only then will your funds be released to us. Should the last share not be sold within 6 months of you entering into the contract you will have the option to cancel the purchase without penalty or continue with your funds in escrow for a further 6 months.

 

If when the Gite is ready for delivery you are unhappy with what you’re getting or feel we’ve been dishonest about the spec then feel free to pull out.

 

If you’ve not been to the Chateau before and wish to view before buying and discuss all this we’d love to meet you but to discourage timewasters & prevent abuse we’ll charge you for your stay and then refund you the money upon completion for a stay of up to 2 days (about €160).

Please contact us with any questions. We confess to being new to all this but we hope we've covered everything. If not tell us.

 

How our fractional ownership scheme works

 

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