How to establish trusting to the co-owners

How do the officials regard to such clubs and associations? What legal status do we have? How are the arising conflicts solved, for example, if the co-owners are eager to sell or re-register their joint property? The answer to such question is one of the basic solutions admitted by the co-owners before the purchase of real estate: who and in what status will own, have the right to use and administer real estate and land under it from the point of view of the official authorities.

Within the decades, it has been elaborated and covered by the legislation the system of joint possession of real estate via a trustee, a company with activity regulated legally and limited by rendering of service in organizing, provision and supervision over joint possession of any property. Such property can be presented by stocks, or shares in the enterprises, means of production or physical goods, author rights or a villa, a house or a flat.

Holiday ownership is a most flexible and convenient system for organizing of property possession. The property is purchased and registered in equal ownership for two parties, a club and a trust (a trustee). Under this ownership scheme, any change in the ownership structure of a particular property requires the consent of both the club and the trust.

The club and the trust agree how they will distribute the property rights for each particular object of property. The common scheme is distribution of the property right per weeks. The club informs the trust about the emergence of a new owner, reports what weekly periods and in what properties the owner has purchased. Trust services are paid by the club and are unavoidable costs, as the trust is a co-owner of the property equivalent to the club, and the club cannot change the trust for the already deposited real estates.

The trust keeps records of all co-owners and provides the co-owner with a certificate only if the required number of weeks for the new co-owner is not occupied by other co-owners. The certificate from the trust is an official guarantee from the trustee that the interests of the co-owner for the use of real estate are taken into account and accepted for the guarantee by the trust (a third party with ownership and disposal rights) to the required extent.

 The trust provides me with participation and control

Before learning about the Club opportunities for vacation, I faced an offer to buy a flat in the UAE. I liked the idea, cost and location of the proposed property. I became the full owner of a two-room apartment. Even when I was in the process of purchase of the apartment, I was immediately offered the option of transferring the purchased flat to the trust management of a special company, which for the agreed interest assumed the responsibility for renting my flat for the periods when we did not plan to be in Dubai. Everything seemed logical and economically feasible. High cost of rental housing in Dubai promised a pleasant benefit. However, it turned out that there was a small nuance, the importance of which I realized immediately when I received the first estimate for utility bills for the flat. Emirates is an amazing country with its pace of development and high standard of living, but it also has high utility bills for non-residents. This country has experienced a boom in the purchase of real estate by foreigners, but many caught it on this "hook" with utility costs, information on which was not provided to me in full when buying a flat. As a result, the amount of profit was several times less than expected and the return on investment lasted for 25 years. But, on the other hand, it is this experience that allowed me to appreciate the offer made to me by Alliance Family Club. Along with the cost that paid off in just a few years of our family travels with the Club, I liked how clearly information about the management fee was provided. Having become the owner of the preferred share of "Global Actual Services", I was also able to participate and control club expenses for the maintenance of apartments. Now I understand and realize the economic validity of such set of dimensions of managerial contributions. I can enjoy my holidays indefinitely in different parts of the world, paying utility bills only for the time that I use.

Vladimir Kucheryayev (Russia) tells of his impression as a shareholder of the Club
A preferential shareholder of the club Alliance