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I'd like to invite friends but the apartment is not large enough...
...agrave;-Terre. We will then try and rent your weeks out. Should there be a difference between the rental income and the rental cost of our apartment, you only pay that difference.
I'd like to come to Paris next October, but my allocated weeks for this year do not allow for this. How can you help?
...à-Terre. We will then try and rent your weeks out. Should there be a difference
between the rental income and the rental cost of our apartment, you
only pay that difference.
What is your cancellation policy?
In the event of cancellation, we retain a pro-ratio portion of the rental fee as follows:
1. 50% of the total rental fee if the cancellation is notified 31 days
or more before the start of rental p...
HOW DO FRACTIONAL VACATION HOME CO-OWNERS SHARE EXPENSES?
...r will pay 20% of each of these expenses. When using the Pay-To-Use Approach, owner usage fees and rental income would be offset against expenses, and the 20% owner (after paying the usage fees for a...
Paris is fine, but I'd like a couple of weeks in Provence...
You have the right to swap weeks with
other properties within the Paris Pied-à-Terre group, including our lovely house in Provence.
Obviously sometimes there will be a d...
Do you accept personal cheques as security deposit?
Yes. There's no need for banker's cheques. A personal cheque is more than enough. Make sure it is made out in the name of Charla & Walid Halabi, not Paris Pied-à-Terre. And if yours is a differ...
Are payments on a fractional ownership vacation haome tax deductible?
... how often the property is used for “personal use” and how often it is used as a “rental”. There are three possible tax treatments, each with their own rules on tax deductions...
There seems to be a difference of opinion between fractional ownership schemes on whether unused weeks can be rented out or not. What is PPAT's stand on this?
There are several theories on the legality of rentals of fractional ownership properties, according to two of the leading attorney's on the matter. Andy Sirkin, prominent San Francisco attorney and S...
There seems to be a difference of opinion between fractional ownership schemes on whether unused weeks can be rented out or not. What is PPAT's stand on this?
There are several theories on the legality of rentals of fractional ownership properties, according to two of the leading attorney's on the matter. Andy Sirkin, prominent San Francisco attorney and S...
There seems to be a difference of opinion between fractional ownership schemes on whether unused weeks can be rented out or not. What is PPAT's stand on this?
There are several theories on the legality of rentals of fractional ownership properties, according to two of the leading attorney's on the matter. Andy Sirkin, prominent San Francisco attorney and S...
WHAT ADDITIONAL RISKS ARISE IF THE FRACTIONAL VACATION HOME IS LOCATED IN A FOREIGN COUNTRY?
...ies associated with shared vacation property located abroad. U.S. entity ownership allows sales and rental transactions to occur in the United States, avoiding the formalities and costs involved in tr...
WHAT LEGAL RESTRICTIONS APPLY TO VACATION HOME SHARING ARRANGEMENTS?
...ay also apply to vacation home sharing arrangements. In general, these regulations will apply where rental income is pooled among the owners, management responsibilities are delegated completely, or t...
SHOULD VACATION FRACTIONAL OWNERSHIP AGREEMENTS BE KEPT SHORT AND SIMPLE?
© 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 Pie...
HOW WILL I BE TAXED WHEN THE FRACTIONAL VACATION HOME IS SOLD OR I SELL MY SHARE?
© 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 Pie...
SHOULD FRACTIONAL VACATION HOME CO-OWNERS BE ABLE TO FORCE A SALE OF THE ENTIRE VACATION HOME?
© 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 Pie...
How does the usage system / planning work?
In the Colonel Combes property, for example, each of the 12 shares is entitled to at least four weeks of usage. Two of the weeks are "Fixed", meaning that every year, the same weeks are used by the sa...
WHAT TYPE OF DOCUMENTATION IS NEEDED FOR A VACATION FRACTIONAL OWNERSHIP ARRANGEMENT?
...nal ownership group needs a document or group of documents detailing their rights (especially usage/rental, alteration, financing and resale) and obligations (especially cost allocation, dues structur...
What is a fractional owner’s responsibility if a renter using the apartment during the owner’s assigned usage period causes damage or steals?
... by another owner. What about an approach under which an insurance company, management company, or rental agency assumes the risk of loss? This approach is fine so long as the associated costs are n...
WHAT IS VACATION HOME FRACTIONAL OWNERSHIP?
© 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 Pie...
HOW DO FRACTIONAL VACATION HOME CO-OWNERS ALLOCATE USAGE?
...process easier. This is because a co-owner’s right to use the home, or his/her right to earn rental income, are the most important and valuable benefits of ownership. There are two basic mod...
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