Fractional or Collective ownership means that you share the full ownership of a property with other co-owners. This could be other members of your family or friends, but in most cases this will simply be other investors of the Collective Ownership Property. You own the building as if it were your own - just shared rather than the whole. This makes it as much an asset as a traditional purchase, but without the worries of property management when you are not there.
The ownership is defined, as with any other property, by the title deed. This is owned by a single entity such as a Limited Company. The shares in this entity are divided equally between the owners - which are referred to as fractions - typically 10 fractions. This gives you the right to stay exclusively in your property for the corresponding fraction of the year. As you own a share(s) in the company, you can of course sell your fraction whenever you want.
The property will be managed by a company established by the developer but funded by the Collective Owners who are free to choose who manages the property. Each fractional owner contributes to an annual maintenance fund. Good management is a key aspect of Collective Ownership.
Over many years Realpoint have built up a reputation for quality service in the sales of properties and we continue to provide this service in the Fractional / Collective Ownership world by ensuring we only deliver properties that meet our client's expectations.
Below you will find some background to the fractional ownership market, how it has come to fruition in Italy and discover one of the best fractional properties we have seen - the Pinelli Estate.