On the Word Press.com site, an article caught my eye, with the words fractional ownership and timeshare mentioned.
‘From Laugharne to the Algarve — Fractional Ownership: Timeshare Misfortune Reborn?’ is the title and was posted in a blog of the West Wales News Review, October, 2017. The blog article might be considered excellent investigative journalism and was very revealing as a study of what can go wrong when investing in a foreign property.
The saga begins with ‘Mr. Peters’ (of the U.K.) - hoping for some fun in the sun, paying for a timeshare in Portuguese Algarve at the cost of 90,000 pounds sterling for “two quarters shares” of an apartment.
From a quick perusal of the article, ‘Mr. Peters’, the unfortunate ‘owner’ of the timeshare had done some due diligence and even hired an attorney in the country where the timeshare was located. But was that enough? From the unfortunate outcome, apparently this legal advice was inadequate to successfully guide Mr. Peters through the maze of this particular “fractional ownership”.
The blog article follows the intricate and complicated ‘labyryinth’ of financial manipulations and holding companies; through the murky waters of some foreign timeshares/fractional ownerships in various foreign countries. locales and “shell companies”.
Not all foreign property investments end in a disaster, however when considering any foreign investment, CAUTION is the word.
And perhaps particular caution is required when dealing with ‘fractional’ ownership in another country.
Working To Preserve Your Wealth and Protect Your Future…in a Constantly Changing World
Please read my full Disclaimer and How I Can Help You
Visit my website: www.attorneybarbaradalvano.weebly.com for 200 more articles and printable infographics