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FREQUENTLY ASKED QUESTIONS
Why co-ownership or fractional interest instead of entire home or apartment?
- You own an interest in an appreciating asset.
- More cost effective.
- You own a fractional share in the property, not just a right to use.
- The Owners Association (not the individual owner) is responsible for French Utilities, Taxes and management costs.
What is a vacation fractional ownership?
A group of individuals or families buy a vacation property together and share the cost and use of the property. A detailed agreement allocates usage rights, costs and responsibilities among the co-owners. Gerard Benton properties are owned by a French SCI (real estate holding entity) which in turn is owned by a US non-profit Owners Association. The Gerard Benton ownership system is designed for US residents. Owners from other countries are permitted to own shares through a personal US entity created for the purpose.
How many owners will be involved in each property?
There will be a maximum of 13 fractional co-owners for each house or apartment. This is kept small to simplify management and decision-making.
When will the owners use the house?
The usage structure will vary from house to house, and a detailed explanation and calendar will be provided with each offering. In all cases, each co-owner will know the exact dates his/her usage rights well in advance to allow plenty of time for planning. Of course, owners may trade weeks with other owners and may privately rent their usage block to family or friends.
For example, in the case of Notre Maison dans Toulouges the usage will rotate as follows:
| Usage Block Array |
Usage Blocks |
In 2009 Weeks Beginning |
| Array 1 |
16, 17, 42, 43 |
April 25, May 2, Oct 24, Oct 31 |
| Array 2 |
6, 7, 26, 27 |
Feb 14, Feb 21, Jul 4, Jul 11 |
| Array 3 |
2, 3, 36, 37 |
Jan 17, Jan 24, Sept 12, Sept 19 |
| Array 4 |
14, 15, 40, 41 |
Apr 11, Apr 18, Oct 10, Oct 17 |
| Array 5 |
22, 23, 48, 49 |
Jun 6, Jun 13, Dec 5, Dec 12 |
| Array 6 |
4, 5, 30, 31 |
Jan 31, Feb 7, Aug 1, Aug 8 |
| Array 7 |
18, 19, 44, 45 |
May 9, May 16, Nov 7, Nov 14 |
| Array 8 |
24, 25, 52, 1 |
Jun 20, Jun 27, Jan 2 2010, Jan 9 2010 |
| Array 9 |
12, 13, 38, 39 |
Mar 28, Apr 4, Sept 26, Oct 3 |
| Array 10 |
8, 9, 32, 33 |
Feb 28, Mar 7, Aug 15, Aug 22 |
| Array 11 |
20, 21, 46, 47 |
May 23, May 30, Nov 21, Nov 28 |
| Array 12 |
10, 11, 34, 35 |
Mar 14, Mar 21, Aug 29, Sep 5 |
| Array 13 |
28, 29, 50, 51 |
Jul 18, Jul 25, Dec 19, Dec 26 |
Weeks begin on Saturday at 4:00 PM and end the following Saturday at 10:00 AM. The weeks begin Counting on the second Saturday of the year with a special adjustment for some leap years and after years in which the last Saturday is December 31st. For more detail on the usage schedule for Notre Maison dans Toulouges click here
Who created Gerard Benton Property Development?
Gerard and Benton are the middle names of Christine Gerard, and William Benton Harvey, who started the company.
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