Paris Pied-à-Terre FAQ

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Confidential (1)

This category is confidential and concerns topics that are related to the bylaws and purchase agreement. Access to this category requires a password.

Renting (3)

Legal & Fiscal Matters

There were 4 questions found in this category:

How are damages to the unit or the building repaired, and who is responsible for the repair cost?
When the unit or the things in it require repair or replacement, the manager will be responsible for making it happen. In practice, this will mean determining what needs to be done, and establishing the cost. When the cost is relatively small, or the item is an emergency, the manager will have t ...
How can I get out of my investment?
One of the main differentiating features of investing in this fractional ownership the fact that we provides for an exit strategy: Should you wish to bail out after year 10, and should it not be possible for you to sell your share(s) on the market, we have built in a contingency that guarantees ...
How does the group enforce the bylaws and rules? How and where are disputes between the group and particular co-owners resolved?
If the manager, Board, or any co-owner, feel that a co-owner has violated the Bylaws or any rule, he/she/it may send a “Notice of Actionable Violation” (“NAV”) which describes the alleged violation along with the steps required to cure it. A co-owner who receives such a n ...
What is a fractional owner’s responsibility if a renter using the apartment during the owner’s assigned usage period causes damage or steals?
A fractional owner is responsible for the cost of repair or replacement of all items damaged or removed during the owner’s usage interval, regardless of whether the owner uses the property him/herself or allows someone else to use it. While limiting the fractional owner’s responsibil ...