Law
When you purchase a share in CASAL, you become part of a community with a well-considered and professional legal foundation. The entire structure has been developed in collaboration with experienced lawyers and auditors, so you can feel secure in your ownership – financially, legally, and tax-wise.
Three key agreements
The CASAL model is based on three carefully prepared agreements which, together, ensure a clear framework for ownership, operation, and use of the property:
- Ownership agreement – regulates the owners' rights, obligations, and joint decisions.
- Administration agreement – establishes CASAL's role as administrator of the property.
- Usage agreement – functions as a homeowners association with articles of association and a board of directors that – together with CASAL – ensures professional operation.
High level of security
- All shares are purchased for cash – therefore, the owners' association is always debt-free.
- It is not possible to take out loans on the property or in the association
- If an owner does not pay their contribution or grossly violates their obligations, they can be excluded from the community, so the rest of the ownership group is protected.
- No owner is liable for the obligations of others – only for their own share.
Decision-making processes
All ordinary decisions are made by a simple majority, while significant decisions require a 2/3 majority. This ensures both flexibility in daily operations and protection against individuals who may block the community’s development.
Company structure
Ownership is organised in a Danish limited partnership (P/S). This structure has been chosen because it is well-tested, transparent, and without joint and several liability. At the same time, turnover costs are avoided when trading shares.
Inheritance and change of ownership
As inheritance rules vary from country to country, CASAL can refer to relevant advisors, so that the transfer of shares takes place correctly in relation to the individual family’s needs. When selling shares, CASAL ensures a safe process, so that both seller and buyer have a clear framework.
In short: With CASAL, you don’t just get access to a holiday home – you get a transparent, fair, and professional legal setup that protects both your ownership and the community.
Our concept has been developed in collaboration with Redmark Revision and Krone Advokater
In addition, we work with leading partners in accounting, tax and law in Spain
