Frequently Asked Questions

Question 1

Am I the true owner of the property?

Accepted Answer

You are a Co-Owner in a shared purchase deal (sometimes called fractional ownership). A registered company is entered into the land register as the property owner, and you purchase shares in this company.  With this purchase, you become a shareholder, and, therefore, a pro-rata property owner.

Question 2

How do I reserve my stay at my holiday home?

Accepted Answer

The MYNE app allows you to reserve your stay at any time - from two days to two years in advance. When you arrive, your personal belongings will be out of storage, and the fridge will be stocked on request.

Question 3

What happens if I want to sell the property?

Accepted Answer

After 12 months, you are free to sell your share at any time. We will be happy to help you find a buyer. One of the other Co-Owners may even want to take over your share.

Question 4

What about tax implications?

Accepted Answer

MYNE worked with renowned tax and law firms to develop a structure that is optimised for holding and managing holiday properties at home and abroad.
This structure helps avoid typical pitfalls. We would be happy to explain the details to you in an individual meeting.

Question 5

Do I need to coordinate with the other Co-Owners of my home?

Accepted Answer

No, you don’t have direct contact with the other Co-Owners. MYNE takes care of everything for you, including all admin tasks and the coordination with other MYNE Co-Owners. You can just relax and enjoy your holiday home.

Question 6

How could I earn money with the holiday property?

Accepted Answer

As a MYNE Co-Owner, you profit as a proportion of your share from any potential value appreciation and rise in equity. Some properties can also be rented as holiday homes, at the request of the MYNE Co-Owners, to generate rental income from the property.

Question 7

Is this a timeshare offer?

Accepted Answer

No, MYNE Co-Ownership is not a timeshare. With MYNE, you are a Co-Owner in a shared purchase deal, i.e., you become a shareholder in a registered company that owns a specific property. As a shareholder, you have access to the property, and use it proportionate to your invested share. MYNE takes care of the coordination between Co-Owners, and the management of the property.

Question 8

Are there finance options for my property purchase?

Accepted Answer

Yes. We work with banking partners to offer favourable financing options for many properties.

Question 9

What is included in the Share Purchase Price?

Accepted Answer

The Share Purchase Price comprises:

- Your share of the cost of the property, according to your selected proportion (1/8, 2/8, 3/8, or 4/8) 
- Incidental purchase costs (land transfer tax, legal fees, legal structure) 
- Structural review of the property
- Legal review of the property
- Legal and tax structure of the shared purchase deal 
- Consulting costs
- Renovation and MYNE-Upgrade
- Interior design, including premium furnishings, fixtures, and fittings
- Top-quality homeware, tableware, and appliances

Useful knowledge about MYNE Co-Ownership

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