People in the past have been burnt by investing in timeshare, fractional ownership and various holiday schemes. Our model is one of CO-OWNERSHIP where you own the property in your name. The percentage you buy of the property will be registered in your name at the deeds office. With Fractional ownership you buy shares into a company who owns the property. When buying into a company you stand a chance of losing your shares. Should the company, for any reason, go bankrupt or get tax issues you will be liable.
With that now explained, you will own a R5 to R6 million lodge and use it as a R5 to R6 million lodge, but only pay 10% of the total price! When selling your Co-ownership, you will receive property growth as with any other property investment. That is now the MAGIC of CO-OWNERSHIP.
In addition your lodge has its own game viewing vehicle for your exclusive use and all the facilities and qualities in a lodge of that value located in the heart of pristine bushveld. All of this and so much more for only 10% of the actual cost. A calendar is worked out 10 years in advance and each 10% owner can use the lodge 5-6 times a year. A 10% owner will get a week every 10 weeks. The weeks move on every year so that you don’t have the same weeks every year. The weeks run from Wednesday to Wednesday to enable owners to make a long weekend as well of their allocated time.
You are buying an undivided share in the land and property. When buying your undivided share, you become a co-owner together with the other purchasers. The undivided share in the land/property is registered in your name in the deeds office, and you will receive a title deed in respect of your undivided share. Your undivided share confers on you the right to use and enjoy the lodge and facilities in accordance with a time-share calendar.
Often time-share schemes are structured on the basis of a share-block company that owns property or properties. Purchasers acquire a share in the company, but they are not land owners. There are risks inherent to such a scheme, such as the liquidation of the company and the attachment of the properties. Ditholo and Mabalingwe are different as you become a co-owner of land. Moreover, unlike in the case of a share in a share-block company, it is possible to register a mortgage bond over an undivided share in land.
The levies are determined by the co-owners collectively at the annual general meeting, and will include the Ditholo/Mabalingwe Home Owner’s Association levies, municipal rates and taxes, weekly cleaning services, DSTV, home and vehicle insurance, maintenance and any other services that the co-owners may have agreed on. The co-owners may employ the services of a management company if they so choose.
The use and occupation of the lodge is determined in accordance with a time-share calendar that calculates the use and occupation ten years in advance. Each co-owner of an 10% undivided share can enjoy the lodge 5 to 6 times a year. A co-owner of a 10% undivided share will have a week to enjoy the lodge every ten weeks. The weeks rotate annually so you don’t get the same weeks each year. A week runs from a Wednesday to a Wednesday.
You co-own the lodge in undivided shares. Your undivided share forms an asset in your estate, which can devolve on your heirs in terms of your will.
According to the co-ownership agreement, co-owners can generate rental income when they are not able to use the lodge.
Yes, the lodge comes with a game viewing vehicle to use on certain terms and conditions.
Your lifestyle will improve. Relationships with friends and family will strengthen and will leave you with lifetime memories. You will co-own an undivided share in a lodge valued at R5-6 million and enjoy this luxurious home every tenth week for 10% of the overall purchase price.