http://www.nytimes.com/2008/05/14/greathomesanddestinations/14gh-paris.html?pagewanted=2&_r=1
The legal structure used for fractional ownership here is designed to avoid French bureaucracy and inheritance taxes that can total two-thirds of a property’s value. In Mr. Navaro’s case, he formed an American company, Paris Home Shares LLC, that is the primary shareholder of his French company, a Société Civile Immobilier. The arrangement means American law governs the operating agreement among owners…
