A safe and sane legal structure

Title

to the property that you purchase will be held by a Société Civile Immobilière (or "SCI"), a type of French entity designed specifically for real estate ownership. The SCI will be wholly owned by a U.S. homeowners association (or "HOA") consisting of the thirteen fractional owners. With this structure, your Paris apartment is effectively converted into U.S. property subject to U.S. law, and physically located in the U.S. The documents governing ownership and use can be written in English, governed by U.S. law, and enforced in the U.S. When an owner wishes to transfer his/her share through sale, gift or inheritance, the transaction will occur in the U.S., subject to U.S. law.

Walks along the Seine River, visits to Notre Dame, the historic Marais district and the quintessential Latin Quarter appeal to all those who come to Paris.

Title to the apartment will not change (it will still be 100% owned by the SCI), and ownership of the SCI will not change (it will still be 100% owned by the HOA).

This legal structure offers significant practical benefits:

Efficient Enforcement:

Should collecting ownership dues or enforcing owner obligations ever become a problem, the bylaws can be enforced all the way through foreclosure, if necessary, at relatively low cost, in just a few months, and without going to court. By contrast, enforcement of a co-ownership system reliant on French law generally takes years and costs tens of thousands.

Efficient Transactions:

Transfer of an owner’s share can be completed in days without the need of an attorney or other professional. Inheritance can be accomplished through a will or trust in the same manner as any other U.S. asset. By contrast, transfer of French real estate held in a more traditional form requires specialized professionals and takes many months. Inheritance is subject to special French law that often interferes with an owner’s intentions.

Familiar Language and Customs:

All of the significant documents, functions and activities of the owners can be conducted in English, and can be based upon customs and procedures that will seem familiar and natural to the owners.

In short, your Paris real estate investment will provide a level of security and control that is equivalent to direct-deeded ownership of U.S. real estate, while offering the investment and usage benefits of owning in Paris.