Acron Homes
Feb 22nd 2009, 3:30 am
#781
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Re: Acron Homes
Unfortunately there is no answer at the moment there is no such thing as a rolling lease, it will be up to the builder, Some unscrupulous builders have already now told their buyers that when the term is up they will not be renewing. Somepeople were lucky enough to get their money refunded one was down the South and the other Apora way. and Regal Builders offered all their clients refunds when it was discovered the change in the so called law and they could not register their deeds now they will only now deal with PIO's
From what I have heard I would rather be an Acron client at this moment than with any other company if I was a FN purchasing.
If the you have paid for it, just enjoy your villa and keep everything crossed.
If not try and get your money back and RENT Good luck.
From what I have heard I would rather be an Acron client at this moment than with any other company if I was a FN purchasing.
If the you have paid for it, just enjoy your villa and keep everything crossed.
If not try and get your money back and RENT Good luck.
Feb 22nd 2009, 8:07 am
#782
Account Closed
Joined: May 2006
Posts: 1,146
Re: Acron Homes
Feb 22nd 2009, 10:17 am
#783
Just Joined
Joined: Nov 2008
Posts: 24
Re: Acron Homes
I agree, all Acron Homes are on Lease.
As a matter of interest also, I have on more than one occasion received confirmation from Acron that the Lease is absolutely and fully protected by law as it is in the Contract that they have to renew it every 5 years - even if they sold up or went bust. Whoever takes on the company would have to honour that lease. They advised that the only way the Lease would ever terminate is if I (the leaseholders) cancel it themselves. The Lease can also be bequeathed to somebody.
I assume that all builders have not been so up front in their contracts?
As a matter of interest also, I have on more than one occasion received confirmation from Acron that the Lease is absolutely and fully protected by law as it is in the Contract that they have to renew it every 5 years - even if they sold up or went bust. Whoever takes on the company would have to honour that lease. They advised that the only way the Lease would ever terminate is if I (the leaseholders) cancel it themselves. The Lease can also be bequeathed to somebody.
I assume that all builders have not been so up front in their contracts?
Feb 22nd 2009, 10:42 am
#784
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Re: Acron Homes
I agree, all Acron Homes are on Lease.
As a matter of interest also, I have on more than one occasion received confirmation from Acron that the Lease is absolutely and fully protected by law as it is in the Contract that they have to renew it every 5 years - even if they sold up or went bust. Whoever takes on the company would have to honour that lease. They advised that the only way the Lease would ever terminate is if I (the leaseholders) cancel it themselves. The Lease can also be bequeathed to somebody.
I assume that all builders have not been so up front in their contracts?
As a matter of interest also, I have on more than one occasion received confirmation from Acron that the Lease is absolutely and fully protected by law as it is in the Contract that they have to renew it every 5 years - even if they sold up or went bust. Whoever takes on the company would have to honour that lease. They advised that the only way the Lease would ever terminate is if I (the leaseholders) cancel it themselves. The Lease can also be bequeathed to somebody.
I assume that all builders have not been so up front in their contracts?
Thank you for that Nelly.
We were under the impression some were leased and some were freehold, did you have to Register the Deeds in your name or is a Lease Agreement not registered? Just hope the Goan Government do not move the goal posts for you.
Good Luck and thanks
Feb 22nd 2009, 10:44 am
#785
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Re: Acron Homes
When we bought it was 7 years ago 5x year visa, money through proper banking channels 183 days, residents permit etc. etc. and are being investigated by Directorate of Enforcement the goal posts were moved after we Registered our Deeds, now we cannot sell.
Last edited by noni; Feb 22nd 2009 at 10:47 am.
Feb 22nd 2009, 10:46 am
#786
Just Joined
Joined: Nov 2008
Posts: 24
Re: Acron Homes
Hi Noni, yes. That's exactly what i said!
The reply was, that whoever took over the company would be legally obliged to honour all contracts.
The reply was, that whoever took over the company would be legally obliged to honour all contracts.
Feb 22nd 2009, 10:51 am
#787
Just Joined
Joined: Nov 2008
Posts: 24
Re: Acron Homes
....this is the exact wording of the reply to my question...
Even if any of the scenarios that you mentioned came to pass, your leasehold rights to the apartment (with Acron’s obligation to compulsory renew the lease) would endure. If you see the Lease Agreement signed with us, the opening paragraph specifies that Acron’s administrators, assigns, successors, etc are also bound to fulfill the terms/ conditions/ obligations of our company under the Lease Agreement.
The system/ legalities of leased property are different compared to that in the U.K. Here, the land comprising the development becomes the property, pro-rata, of each of the apartment/ villa owners in the complex upon each of them acquiring the freehold and Acron cease to have any right over it after the complex is built. Even if the company no longer existed, its successors/ administrators would be contractually obliged to renew the Lease every 58 months and your stake in the land proportionate to the area of your apartment cannot be “sold” to anyone else and forms an integral part of the sale of the apartment.
Even if any of the scenarios that you mentioned came to pass, your leasehold rights to the apartment (with Acron’s obligation to compulsory renew the lease) would endure. If you see the Lease Agreement signed with us, the opening paragraph specifies that Acron’s administrators, assigns, successors, etc are also bound to fulfill the terms/ conditions/ obligations of our company under the Lease Agreement.
The system/ legalities of leased property are different compared to that in the U.K. Here, the land comprising the development becomes the property, pro-rata, of each of the apartment/ villa owners in the complex upon each of them acquiring the freehold and Acron cease to have any right over it after the complex is built. Even if the company no longer existed, its successors/ administrators would be contractually obliged to renew the Lease every 58 months and your stake in the land proportionate to the area of your apartment cannot be “sold” to anyone else and forms an integral part of the sale of the apartment.
Feb 22nd 2009, 10:54 am
#788
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Re: Acron Homes
Well lets hope they keep their side of the bargain, as we all know what people are like over here.
Having been coming since the early 90's I cannot believe the way Goan people are treating us FN now, and of course, having the D of E hanging over our head also the second wave of letters going out, it spoils the holiday as we live with a shaddow over us all the time.
Feb 22nd 2009, 11:00 am
#789
Just Joined
Joined: Nov 2008
Posts: 24
Re: Acron Homes
Noni, did you buy an Acron home?
Feb 22nd 2009, 11:26 am
#790
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Feb 22nd 2009, 12:04 pm
#791
Just Joined
Joined: Nov 2008
Posts: 24
Re: Acron Homes
Probably far too late to answer your post, (sorry I didn't realise you had pm'd me. Have sent you a pm today).
I am going out in a couple of weeks.
Feb 22nd 2009, 12:16 pm
#792
Account Closed
Joined: May 2006
Posts: 1,146
Re: Acron Homes
I agree, all Acron Homes are on Lease.
As a matter of interest also, I have on more than one occasion received confirmation from Acron that the Lease is absolutely and fully protected by law as it is in the Contract that they have to renew it every 5 years - even if they sold up or went bust. Whoever takes on the company would have to honour that lease. They advised that the only way the Lease would ever terminate is if I (the leaseholders) cancel it themselves. The Lease can also be bequeathed to somebody.
I assume that all builders have not been so up front in their contracts?
As a matter of interest also, I have on more than one occasion received confirmation from Acron that the Lease is absolutely and fully protected by law as it is in the Contract that they have to renew it every 5 years - even if they sold up or went bust. Whoever takes on the company would have to honour that lease. They advised that the only way the Lease would ever terminate is if I (the leaseholders) cancel it themselves. The Lease can also be bequeathed to somebody.
I assume that all builders have not been so up front in their contracts?
GC
Feb 22nd 2009, 12:46 pm
#794
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Feb 22nd 2009, 1:55 pm
#795
Banned
Joined: Oct 2008
Posts: 2,478
Re: Acron Homes
Please forgive me if I'm being a bit simple here, but..........
The way I read this is that you have bought an on-going, guaranteed, sell-able, inheritable lease that will allow "virtual" ownership with no snags or pitfalls?
Are Acron still selling these?
If not, why not?
Why is anyone trying to sell conventionally with all the problems involved, as this sounds like the solution to Goa disintegrating property market?
The only "anti" I can see is the "great British obsession" of property ownership is not satisfied as you never totally own the place.
Or am I just reading this wrong?
The way I read this is that you have bought an on-going, guaranteed, sell-able, inheritable lease that will allow "virtual" ownership with no snags or pitfalls?
Are Acron still selling these?
If not, why not?
Why is anyone trying to sell conventionally with all the problems involved, as this sounds like the solution to Goa disintegrating property market?
The only "anti" I can see is the "great British obsession" of property ownership is not satisfied as you never totally own the place.
Or am I just reading this wrong?