1. Who may use the WeCoOwn listing platform?
Anybody who wants to buy a new property such as a yacht, a jet, a luxury car, a race horse, an artwork or a vacation home via a co-ownership legal structure. They are called potential or prospective co-owners.
On the other hand, any existing owners of any of these high priced discretionary properties may decide to sell a part of the ownership to other prospective co-owners under a “co-ownership” legal structure to share the ownership and the potential use of these properties under a managed “shared consumption” method.
The listing platform is designed for them to meet first. Once they have decided to co-own together. WeCoOwn would assist them in corporatizing the assets via a proper legal structure in each country and help them with the fractional share ownership based on the percentage of their financial contributions.
2. Where are the services currently being offered?
The properties being offer during our initial launch period are yachts, boats, jets, small aircraft, luxury cars, race horses, artworks and vacation homes. We will also offer the complimentary use of our proprietary co-ownership property management software to facilitate the shared consumption between co-owners met through our platform.
3. What are the different types of membership? Is there a free membership?
Yes, the co-owners finder listing is always FREE. So is the basic membership for property listing.
For more detailed information, please review the info at the Membership section.
4. What information do I need to sign up a membership account?
Basic Members could use their email address, login credentials for their existing Facebook or Linkedin account to create a new account with WeCoOwn. The Premium Members and Professional Members are paying members and hence will need personal identification, corporate information and the documents to verify as the proof of property ownership.
5. How do I set up a listing?
For Basic Members, you will only need the descriptions of the property. Clear high resolution photos and videos are encouraged. A sale listing price or a rental listing rate is required as well as the property’s current location. The property ownership documentation is optional.
For Premium Membership and Professional Memberships, a property ownership documentation is required.
6. What is the cost of the services at WeCoOwn?
Co-owners finder listing is always free. Property listing is free for Basic Members unless a premium or professional listing is desired. For latest membership cost for Premium Membership and Professional Membership, please review the info at the Membership section.
Many legal and/or documentation services may be provided by our associated or other recommended third-party vendors. Please inquire the cost of their services directly with them.
7. How do I use my co-owned property?
The champion or the initiator of your co-owned properties and/or the professional members will help you make that decision via themselves or a dedicated professional concierge service. The WeCoOwn platform only provides the software to automate the process for members and their fellow co-owners.
8. When can I sell my shares in a co-ownership structure?
Any time you desire based on the permission agreements that you may have had with your other co-owners through an co-ownership operating agreement.
In the secondary market, you could be either a seller or a buyer at any given time under the guidelines of the operating agreements of each individually co-owned property.
9. How do I sell my shares?
The buying and selling of the fractional shares in the secondary market will only be handled under WeCoOwn’s broker dealer affiliate.
WeCoOwn does not get involved in the secondary market trading of the co-ownership shares.
10. Can I add a new type of property?
Yes. You may nominate a new asset class of properties with WeCoOwn’s management team. As long as there are enough expressed interest from potential co-owners on our platform, any class of property assets would be considered and provided on the WeCoOwn platform.
We will also tailor make the co-ownership property management software to be able to handle these new assets classes.