Milcar Fractional Ownership

World Class Living - Sedgefield

Amidst the hustle and bustle of our everyday lives, there are places where we can unwind and just let tranquility soak into our beings.

Whether you are a fisherman or a nature lover, Sedgefield has it all. A haven that caters for holiday enthusiasts.

Not only do we have the most beautiful and unspoilt coastlines in the world, but we also have the wonderful mixture om Mountains, Lakes, Rivers and Forests.

Amongst all this beauty sprouts the ideal holiday destination for the whole family.

Pricing

Full purchase price for ownership of a fractional line (being 4 weeks) is R 265 000

Contact Details

Tel: +27 44 272 5895
Fax: +27 44 272 5895
Cell: +27 83 928 6568
Email: info@oudtshoornproperty.co.za
Website: www.oudtshoornproperty.co.za

Frequently asked questions

What is Fractional Ownership?

Fractional Ownership, or as it is also colloquially known, Condominium Ownership, is the process whereby you can obtain ownership in luxury holiday accommodation and furnishings and the right to the exclusive use of the property during predetermined time periods in each year, in perpetuity.

Why should I invest in Fractional Ownership?

This is the best vehicle to use to purchase ownership in truly luxurious accommodation at a fraction of the price. You are also protected from all the usual hassles of owning holiday accommodation and being responsible for all the bills. Here we take care of all those tasks for you.

Most Holiday Homes only get used for 3 to 4 weeks per year. Why pay for the whole house and all the maintenance and running costs if you are only going to use it for a fraction of the year in any event? Why spend all your precious holiday time mowing lawns and painting? We are making owning a luxury holiday home not only possible, but affordable and effortless. Get the whole deal at 1/13th of the price.

What is the Occupation Roster?

Your exclusive right to occupy your property during certain predetermined dates each year in perpetuity is defined in the occupational roster.further

The roster may be static, where you occupy the accommodation in the same weeks in each succeeding year.

The roster may be dynamic where each line of 4 weeks moves forward by one line or column each year. The result will be that in 13 years you will have occupied all 52 weeks of the year.

All the calendars are designed, where possible, to provide each Fractional Line with one week in Summer, Winter, Spring and Autumn in each year. Your trained consultant will fully explain the Occupation Roster to you and assist you in choosing the Line best suited to you. There is an option for exchanging your weeks internally or externally throughout the world.

Can I sell my Fractional interest?

Your ownership is held either by way of title deed or share block.

In either event you are free to sell your Fractional interests to any party, provided that the new owner agrees to be bound by the Terms of the Use Agreement.

In some instances however, the other 12 owners in your luxury holiday home may have a pre-emptive right to purchase your interest at market value.

How was the allocation of weeks per line made?

In determining the composition of the weeks making up a Line, we attempted to provide each of the 13 lines with at least one peak week every year. In any event you will at some stage enjoy the benefits of every line, as our roster is a dynamic one (as explained above).

Why must I pay levies?

The levies are designed to provide for the maintenance of the luxury holiday home and its servicing. The funds are paid into an account held by the Company and all the funds are utilised solely for the benefit of your luxury holiday home. Out of these funds all the daily servicing costs are covered, as well as the maintenance and replacement cost, insurance and utility charges.

The contract gives the breakdown of all the costs covered by the levies and an estimate of the levies for your luxury holiday home. We have provided sufficient funds in the levy account to adhere to a strict policy of excellence and replacement of all softs, furnishings and appliances on a regular basis.

What do I own?

You will own a one 13th share in the luxury holiday home and all its furnishings, together with the exclusive right to occupy the luxury holiday home during the weeks allocated to your Fractional Line.

Who and what is the managing agent?

The managing agent has been contracted by the Company to see to the daily maintenance and upkeep of the luxury holiday home, to determine occupation times and to raise and collect the levies.

Will my luxury holiday home be serviced?

The costs of daily cleaning and servicing on all days except Sundays and public holidays are included in your levies. The luxury holiday home has all the modern appliances and conveniences, and the whole family can enjoy a carefree holiday.

What if I don’t want to occupy my week?

Should you not want to or not be able to occupy your luxury holiday home in a particular week then you are free to let it to other occupiers. Many owners will let one or more of their weeks out to recoup the costs of their levies. We also believe that there will be an active “swapping” of weeks among owners and the managing agent will assist with this where possible.

Are we protected by legislation?

This scheme is fully compliant with the current legislation and is affiliated to T.I.S.A. The following acts are applicable to this scheme and the provisions thereof, where applicable, have been complied with:

A. The Property Timesharing Control Act (No. 75 of 1983)

B. The Share Blocks Control Act (No. 59 of 1980)

C. The National Credit Act (No. 34 of 2005)