Legal

The 21-5 owner associations are very strictly regulated legally.

The strict regulation in the 21-5 owner associations means, among other things, that if a family stops paying their common expenses, they can be expelled from the group by the other families. If this happens, the expelled family must sell their share of the vacation home, and if they don't do it themselves, 21-5 will do it for them.

These are harsh terms, but at 21-5, protecting the community from potential non-payers is more important than protecting a family with financial problems. Of course at 21-5 we will do everything we can to help the family sell at the best price, but ultimately it is the community's interest that we are looking out for.

It's important to emphasize that no owner association has ever excluded a family. But it's nice to know that the possibility exists.

The 21 families in an owner association are the legal (sole) owners of the 5 homes.
The 21 families - and no one else - own the 5 holiday homes. As an owner in a 21-5 group, you become the legal co-owner (and owner) of 1/21 of the 5 holiday homes.

The owner associations are set up as corporations, which is an optimal way to do this.

Articles of Association
The owner association is governed by a comprehensive set of bylaws to ensure that everything runs smoothly. If things don't go as planned, there is a description of what should happen. The whole setup is designed to give everyone as much security as possible, legally, fiscally and financially, and everything is completely open and transparent to everyone.

Majority decisions
All ordinary decisions are made with a simple majority, while important decisions are made with a 2/3 majority. This ensures that no "Mr. Opposite" can sit in the group and block sensible decisions.

It also requires a 2/3 majority to dissolve the owner association. If this is decided, the homes are realized (sold) and the money is divided equally between the families. No 21-5 owner association has yet dissolved itself.

Rules of inheritance
Inheritance rules vary from country to country. You should consult your own advisor regarding inheritance rules, as 21-5 does not provide advice and cannot be held responsible in this regard.