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Questions and Answers

 

Please find below answers to the most common questions:

 

 

 

 

What is Borgo di Vagli?

Borgo di Vagli is a Private, member-owned fractional ownership community comprised of charming one- and two-bedroom residences in the heart of Tuscany. Borgo di Vagli has been restored to offer owners a unique and affordable opportunity to own an historical country home in Tuscany and provide them with worry-free ownership and vacations.

 

If I purchase at Borgo di Vagli, do I own real estate?

Yes, indirectly. Title to the residences is held in perpetuity by an independent international trust company [First National Trustee Company] for the benefit of the club owners. As beneficiaries of the trust, each owner has flexible access to all residences within their ownership category (one- or two-bedroom). Similar to other real estate, ownership may be sold, willed, transferred or placed in a trust at any time. Transfer of ownership is flexible and does not involve notary or notarial costs or local land registry fees. Transfer of ownership can be executed from overseas.

 

There is usually no need for you, as an owner, to have a fiscal registration or to make any tax return in Italy. You should take financial advice from your accountant or financial advisor if you are in any doubt.

 

How does fractional/shared ownership differ from Timeshare?

Timeshare typically offers the right to use a specific week or set of weeks and lodging is limited to a specific unit. Borgo di Vagli Fractional owners enjoy unlimited access to all of the residences in their residence category based on the Reservation Procedures. Fractional ownership is designed as an alternative to second home ownership.

 

How many ownerships will be sold?

Borgo di Vagli currently offers  fractional ownership in ten residences(four one-bedroom and six two-bedroom).  The actual total number of ownerships will depend on the fractional interest sizes of the ownerships. 

 

Can more than one family or individual share a single ownership?

Yes. Owners can form partnerships, corporations, or trusts to benefit from ownership.

 

What are the advantages of fractional ownership?

Fractional ownership is designed to provide generous and flexible vacation use and remove the worries typically associated with vacation-home ownership. Fractional ownership not only significantly reduces the initial investment but also the financial burden usually associated with traditional vacation-home ownership.

 

As an owner, how often can I vacation at Borgo di Vagli?

As often as you wish, subject only to reservation procedures. As an owner, you have the flexibility of reserving vacations well in advance, as well as booking space-available and short-notice vacations well in advance, as well as booking short notice and or space-available vacations. There is no limit to the amount of use. If some owners visit less often, other owners can visit more.

 

How do owners reserve lodging?

The reservation policies allow owners to reserve visits well in advance, while also accommodating more spontaneous visits. Each November, owners reserve their planned vacations for the coming year. Space-available and short-notice vacations may be reserved throughout the year.

 

Will owners always stay in the same residence?

Not necessarily. To provide greater flexibility and availability, owners have equal access to all of the residences in their residence ownership category. Special requests will be granted when possible.

 

What if the number of owners wishing to stay exceeds the number of residences available?

Borgo di Vagli is designed to equitably allocate peak-period vacations when demand for lodging may exceed supply. A Rotating Priority System® ensures all owners will have equal access to high-demand periods over the years. This system has proved fair and equitable for over 21years.

 

Can owners reserve more than one residence during the same time period?

Yes. Because owners are not restricted to a particular residence, they can reserve more than one residence in their ownership category, if sufficient residences are available.

 

Do owners have guest privileges?

Yes. Owners may invite guests to stay with them during their vacations and they may also invite unaccompanied without incurring a guest fee.

 

What is the quality of construction, furniture and accessories at Borgo di Vagli?

Borgo di Vagli is the result of a ten-year restoration project by restoration architect Fulvio Di Rosa.  The Hamlet has been restored to its original charm, maintaining its authentic medieval feel while introducing modern-day facilities including fully equipped kitchens and cosy bathrooms. The property is furnished with rural Tuscan antiques, handcrafted cutlery, Busatti linens and satellite television.

 

Do owners pay annual fees?

Yes. The annual owner fees pay for the professional management, operation and up keepof all the residences, facilities and amenities. Included in these annual dues are funds for staff salaries, supplies, maintenance, legal/accounting, insurance, capital reserves, utilities and property taxes.

 

Do owners have a voice?

Yes, an Advisory Committee was formed to encourage and increase Owners participation in the operations and affairs of the Club in order to create value and enjoyment of the Club for its Owners, Members and their guests. 

 

Who establishes the fees and controls the affairs of Borgo di Vagli?

The management company establishes budgets and fees on an annual basis in accordance with the management agreement and Rules of Occupancy, the fees are made available to the Advisory Committee members for review.

 

Will Borgo di Vagli be open to the public?

When fully subscribed, the community will be operated for the exclusive use and benefit of owners and their guests. Prior to full subscription, limited public use will be permitted for marketing purposes (Inspection Discovery Trips). This type of use will not diminish lodging availability for owners.

 

Do owners pay any lodging charges when they stay at Borgo di Vagli?

No. Owners only pay for housekeeping and any additionally requested services, such as meals in the trattoria, winery tours, etc.

 

If I purchase, when can I start enjoying ownership benefits?

Immediately.