Frequenty Asked
Questions...
What is a property
share?
This is a chance to purchase a house in France
without a large capital outlay. As one of 10 shareholders of our
Limited Company you own a 1/10th share of the limited liability
company. This company owns and manages the
property.
How does this differ from a time
share?
This is totally different. Maison Ariette
operates as a private shareholding company with a real estate asset.
As a shareholder, you are one of only ten owners. You own your
percentage of the property outright. You also benefit in the asset
appreciation of the property. Each year your allocated time period
is reserved for you to use as you wish.
Conversely,
timeshares consist of a large group of members, which continues to
grow. The complexity of useage combined with the negligible resale
value, makes private house share ownership far more
beneficial.
Where is the property
located?
Maison Ariette is in the small medieval village
of Villeneuve lès Béziers, 5km from the Med, 30 minutes to
Montpellier and just an hour's drive to Spain.
Why
buy property in this region?
We have chosen the
Languedoc region for its charm and central location. It provides
a good base, being in the sunny southwest, so close to the beaches,
vineyards, adventure activities and its ease of access. It is a
region which has grown in popularity like its neighbouring region of
Provence. With over 300 sunny days per year, it is no wonder so many
are attracted to the area. Yet it still retains its old world charm,
with the French courtesy which we have found so pleasant and
welcoming. It provides a relaxed way of life, with the morning
markets, the long leisurely lunches... watch the barges go by as you
stroll along the Canal du Midi, where the majestic plane trees
planted in the reign of Louis XIV line the banks so gracefully... or
for the more active among us there is horse riding on the Carmargue,
kayaking in the ravines, diving in the clear waters of the Med,
exploring the cycle paths... the list goes on.
Why do
we use a NZ Limited Liability Company?
The company
formation allows the shareholders to own and manage real estate in
France, without being adversely affected by the French taxation
system. It also allows for ease of resale, simply by selling of
individual shares.
What is an Operating
Agreement?
The Operating Agreement details the rights,
obligations and duties regarding the company and its assets and
liabilities.
How does each Shareholder reserve time
at the house?
Initially, each shareholder draws a number
from 1-10, which determines the order in which they will thereafter
choose their time allocation on a rotating basis every year. Each
shareholder has a 3 week period in the peak season (April to
October) and a 2 week period in off peak season (November to
March).
What are the annual
expenses?
Expenses include insurance, local property
taxes, and normal utilities and maintenance. Costs are estimated at
NZ$80 per month per shareholder. Of course, all house costs are
divided by the number of shares in the company.
How
do I secure a shareholding?
You may choose to visit the
property prior to purchase, or you may choose to look at our CD of
the property and the area without the need of a visit. All
shareholders must sign the operating agreement which sets out the
rights and obligations of shareholders.
How are
payments made?
When you have decided to buy a share,
full instructions on how to transfer funds to the Company account
will be sent to you.
How is my shareholding
recorded?
You will be recorded on the company details as
filed with the NZ Companies Office as a shareholder of the
company.
How do I sell my
shareholding?
Should you later wish to sell your
shareholding, it is a simple share sale transaction to another
party.
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