Universal Vacation Realty Quarter-Share

Many people dream of owning their own holiday home abroad but find the initial financial outlay and annual running costs difficult to justify on a home that may only be used occasionally throughout the year.

The answer can be found in purchasing a quarter share or Quarter-Ship which allows four individual purchasers to own three months each of a superior quality home at a fraction of the cost of an outright purchase. Whether you wish to invest in overseas property purchase for investment or simply family holidays, purchasing a quarter share of a property makes sound financial sense. Each owner's quarter entitlement rotates every year to give everyone a change of months but of course owners can change periods amongst themselves if they wish.

All the benefits of Freehold Home Ownership€¦.

Quarter-Ship or as it is also known; fractional ownership, suitably structured by a professional management company allows unconnected purchasers to combine their resources and collectively OWN a beautiful property. By purchasing a fraction of the equity in the home the buyer is only committed to paying the same proportion of the annual costs.

The principal benefits are:

• Asset appreciation through FREEHOLD ownership
• Acquiring and maintaining an affordable luxury lifestyle
• Minimize running costs in relation to usage
• Benefit from a professionally managed home and infrastructure
• Generate income from the rental of unoccupied periods

Types of property available for Quarter-Ship

Universal Vacation Realty can offer quarter shares in a number of properties in Southern Cyprus. These range from Studios, Apartments through to three and four bedroom Villas with variable build time frames as shown below.

Option 1. A completed property ready for immediate occupation. This will be fully furnished and ready for you to move straight into.

Option 2. A property nearing completion with a time frame of several months until completion.

Option 3. An off - plan property with completion due in two to three years, or in the case of our larger developments this could be slightly longer.

We have properties on large Resort Style Communities with a number of swimming pools, heated indoor pool, clubhouse, bar / restaurant, etc. or if you prefer smaller more intimate communities.

The choice is entirely yours...

How do I use my Quarter-Ship?

Please look at the attached share rotation scheme which enables you to have exclusive use of your property for three months of each year in perpetuity. This gives you the opportunity of experiencing every month of the year over a four year period. Of course some owners may wish to exchange periods amongst them to suit their personal usage. Likewise spare weeks can be advertised for rental to third parties.

The above chart indicates the simplistic style of occupancy allocation. For example: - in YEAR 1 your property will be available to you in January, May and September in YEAR 2 you will return in April, August and December; and so on in perpetuity.

Occupancy begins from 12 noon on the first day of each month until 12 noon on the 29th (with the exception of February, when you you will asked to vacate by 12 noon on the 26th day). In general, cleaning and minor maintenance will take place between the 29th and 31st of the month.

The Quartership Scheme enables you to have exclusive use of your property for three months of each year in perpetuity. This gives you the opportunity of experiencing every month of the year over a four-year period.

How do I choose my new home in the sun?

With all of the different types of property on offer it may initially be difficult to decide which type of home to choose. However family practicalities may govern the number of bedrooms you require and your individual time frame the choice of a completed or off plan property. We will be pleased discuss the options on offer and of course arrange an inspection visit for you if required. It is also possible to reserve a property in advance before conducting an inspection visit with a fully refundable deposit of one thousand pounds.

What does the purchase price of my Quarter-Ship include?

Firstly we would like to reiterate that Quarter-Ship is not timeshare, purchasers actually own one quarter of the property and are free to sell this at any time and take back their investment along with profits.

The property is fully furnished to a very high standard with all linens and electrical appliances including flat screen TV and ready to move into. In addition an allowance has been included to pay all management charges, electricity, water, television connection, insurances and other bills for the first year after completion. There is nothing more to pay other than the initial cost of your share in the property.

Who will look after my property?

Universal Vacation Realty has been managing overseas properties for clients since 1986 and will oversee the day to day running of your home. Transparent quarterly accounts will be produced, invoices paid, cleaning arranged when required and you can be assured that there will always be someone to talk to at the end of the telephone.

What security do I have for my investment?

In simple terms a Limited Liability Partnership (LLP) is incorporated by an independent lawyer in Cyprus to purchase the property and the ownership of the property is then recorded at the Land Registry Office. All owners then purchase 25% of the shares in the company. We have chosen Cyprus to register the LLP because of its generous tax benefits and lack of inheritance tax.

What happens should I want to sell my Quarter-Share?

You can sell your quarter share at any time; firstly it can be offered to a member of your family and then to the other shareholders at a price of you're choosing. These two groups take precedence. Finally you may advertise the shares yourselves or let Universal Vacations Realty advertise them on your behalf. In addition the rules of the LLP stipulate that the property will be sold five years after its completion and the assets shared between all four owners. However this condition can be changed if all shareholders agree and the property retained for a further period.