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| SHOULD VACATION FRACTIONAL OWNERSHIP AGREEMENTS BE KEPT SHORT AND SIMPLE? |
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© March 16, 2007 by D. Andrew Sirkin.
Any reproduction or use of this document or any part of its content
requires the written consent of the author. Mr. Sirkin is chief attorney for Paris Pied-à-Terre Fractional Ownership. Contact Mr. Sirkin at
dasirkin@earthlink.net, or visit www.andysirkin.com
No one reads co-ownership documents for pleasure. The only time you are likely to read the documents is if you have a conflict that you can’t otherwise resolve. In that situation, you want them to provide a specific and clear resolution. The shorter a fractional ownership agreement is, the less likely it is to address the specific problem that caused you to look at the agreement. The advantage of length is that it allows you to cover more issues, and makes the agreement more likely to be helpful if you need it. There is no disadvantage to length, as long as the document has a complete table of contents so that you can find what you need quickly. Simplicity is desirable, as long as it doesn’t come at the expense of breadth.
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