Tuesday, June 19, 2007

How about some beach front property in Arizona?

Fancy a membership in one of those exclusive fractional ownership fly fishing resorts? Just make sure the guy selling it to you actually owns it.

"Johannesburg businessman Jan Faure, 55, claimed to have had R14-million to purchase the Seaview Hotel, but then sold part of the hotel without paying for it. He has now advertised fractional title shares in the Outeniqua Trout Lodge in newspapers, magazines and on the internet. He offers purchasers an opportunity to buy "fractional title shares at R285 000 each in the Outeniqua Mountain Resort (Pty) Ltd".

On Monday, the owner of the Outeniqua Mountain Resort, Dr Ingo Vennemann, said although Faure and two other men, Wynand and Jaco van den Berg, had visited last year to gather information about his trout farm operation, there was nothing to entitle them to start selling his property. "

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