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OWNERSHIP IN SAINT LUCIA, TIMESHARE, PROPERTY, REAL ESTATE, TIMESHARING

ownership in st lucia, lodging, accommodation, hotel, rental, resort


Ownership details - Phase III
sailing in saint lucia, timeshare, property, real estate, timesharing

  the vacation community            

Oasis Marigot is a vacation community of 12 private sea houses, nestled into a mountainside overlooking St. Lucia's Marigot Bay, with direct access to the Caribbean Sea, palm-lined beach and port for pleasure and sailing craft. Phase III, the last phase of the project, calls for the construction of the four remaining sea houses planned. As of today, the houses in the Phase III are already built and in operation.

  the investment            

Ownership in the form of capital stock in the corporation Oasis Marigot III Ltd. The company's assets include the four fully furnished 2-storey sea houses, all related land, outer buildings and amenities. Each investor (for a full share) owns one-fiftieth (1/50) of corporation's total assets. Half-participation (1% ownership) and quarter participation (1/200 ownership) options are also available.

  shareholders rights            

 
  • Each shareholder of a full share owns one- fiftieth (1/50) of the Phase III project. This includes occupancy rights to one of the four sea houses for four weeks of every year in perpetuity.
  • A shareholder of one half-share (1% ownership) has occupancy rights to one of the four sea houses for two weeks of every year in perpetuity.
  • A shareholder of one quarter share (1/200 ownership) has occupancy rights to one of the four sea houses for one week of every year in perpetuity.
Shareholders may rent out their occupancy rights directly for a potential revenue of $1,400 US per week (for 4 guests) or have their occupancy period rented out by the corporation. They may also use their occupancy period themselves or lend it out to family or friends as they see fit.

  method of payment            

A total investment of $22,980 US is required (half-participation is $11,980 / quarter participation is $6,480). Shares may be reserved by using the purchase offer form and making a refundable deposit of $2,000 ($1,000 for half and quarter options), to be held in trust. Thirty (30) days after, if the purchase offer is confirmed , a contract is signed and another $5,000 portion is paid ($2,500 for half-share and $1,500 for a quarter share), which is also held in trust until works begins. The balance must be paid in full when construction, attested in writing by the engineer or contractor in charge, is 50% completed. Financing arrangements are available.

  ownership fees            

Ownership fees of $1280US per year (for a full share) are assessed for maintenance, housekeeping services, gardening, security guards, electricity, taxes, insurance and other services. For a full share, fees are payable yearly in 4 installments of $320 US each in January, April, July and October (half-participation: in 2 installments of $320 US / quarter participation: in one payment of $320 US).

  shareholder responsibilities            

 
  • Each shareholder of a full share undertakes to limit the exercise of his occupancy rights to two weeks in each of the two annual vacation seasons (November 1 to April 30 and May 1 to October 31).
  • Each shareholder of one half-share undertakes to limit the exercise of his occupancy rights to one week in each of the two annual vacation seasons. In view to reserve a longer stay, it is possible to “bank” weeks from one year to use in the following year, or “borrow” one week from the upcoming year.
  • Each shareholder of one quarter share undertakes to limit the exercise of his occupancy rights to one week per year in alternation between the two annual vacation seasons from year to year.
Each shareholder agrees to make reservations in advance for exercising occupancy rights. The vacation community's reservation system has been set up to ensure that all shareholders get to exercise their occupancy rights as satisfactorily and efficiently as possible. Shareholders may also arrange for international exchanges through Resort Condominiums International, a computerized network of over 3,000 world class resorts in 80 countries. For added flexibility, shareholders may arrange for internal exchanges (their own vacation community at different times).

  transfer rights            

Shareholders may sell their shares at any time provided other shareholders are given first option. There are no limits on the asking price. Shares may also be transferred to heirs.

  shareholder advantages            

This is the final house of the project and the last opportunity to invest in Oasis Marigot. Last shares in Phase III are expected to command a per share price of 15% to 30% higher than the actual price of $22,980 US.

More questions? Read our F.A.Q. and references page.