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HOTELA Ownership Rights Details Explained
Detailed description of rights
The real estate property title registration is in the name of the (LLC or Special Purpose Corporation) which is a fully owned subsidiary of HOTELA. HOTELA’s subsidiary buys the entire property, does the development, renovations, interior designs and furnishing. HOTELA provides the legal framework for HOTELA ownership for each residence and each of the owners has a position in the partnership agreement regarding Hotela's luxury residences. You purchase one or more HOTELA Ownership Shares of the HOTELA second home residence of your choice. The residence is fully managed and designed specifically for HOTELA ownership.
1. Right of Possession: You have the right to possess and occupy the property in accordance with the amount of shares you own and in accordance with days you choose to use your second home using HOTELA booking system.
2. Right of Use: You have the right to use the property in any lawful manner, subject to local zoning and land use regulations and in accordance with the terms and conditions of your HOTELA Ownership agreement.
3. Right of Exclusion: You have the right to exclude others from entering or using the property without permission while in use by you and in accordance with the booking and occupancy rules when booking your stays.
4. Right of Enjoyment: You have the right to enjoy the benefits and amenities of the property, recreational facilities, or any other features on the property.
5. Right of Transfer: You have the right to sell, transfer, or convey the property to another person.
6. Right to Income: If the property generates income, such as through rent or leasing, you have the right to receive and collect that income. If you own all HOTELA Ownership Shares in one residence, you have the right to reject any third-party bookings.
7. Right to Mortgage: You have the right to use the property as collateral for loans or mortgages.
8. Right to Legal Protection: You have the right to legal protection against trespassing, encroachment, or any other violation of your property rights.
9. Right to Access Residence: You have the right to access their property and use the public roads or easements necessary to reach it.
10. Right to Guests Access: You are allowed to provide access to your personal guests of your second home and HOTELA amenities and such access is also subject to the HOTELA Ownership rules in place for all owner’s protection.
11. HOTELA Ownership Duration: Your ownership in any HOTELA Program Owned second home never expire. Your rights are indefinite in time just like owning any other asset.
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