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Timeshares |
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In the same way as timeshare schemes exist in foreign holiday resorts, they also exist in Scotland. Timeshares are established to diffuse ownership of property rights into manageable chunks of time. Each chunk, usually a week long, is then allocated to a different individual or group. |
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The Anderson Strathern Rural Department has particular expertise in connection with timeshare schemes set up and run in Scotland. The timeshares we deal with involve salmon fishings, holiday properties, lodges etc. |
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In Scotland, many of the most prestigious salmon rivers have beats which have been 'timeshared' allowing a number of people to have a right to fish during a specified period. We also have experience in setting up and managing various types of timeshare syndications both in respect of salmon fishings and also in relation to holiday homes.
There are various types of schemes for timesharing and each structure has advantages and disadvantages. It is therefore important to obtain specialist advice when purchasing an interest or lease in any type of scheme within Scotland and to be aware of the rights and liabilities which go with ownership or leasing of a share in the property. There are often VAT implications and we can also provide advice to clients on their VAT liability.
For more information contact Jim Drysdale |
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