LEGAL GUIDANCE
Property investment clubs in The Gambia: agreeing the rules
Before pooling money, decide who owns the property, who controls spending and how a member can leave.
What are members contributing to?
A group buying a property together needs a defined legal arrangement. Identify whether members will hold interests directly, invest through a company or use another structure. A club name and a shared bank account do not explain ownership or protect everyone’s position.
Describe the intended property, contributions, borrowing and expected use. Establish whether the project is a private arrangement between identified participants or involves wider promotion and fundraising. That distinction should be raised in the regulatory review.
Which governance rules should be written down?
- How contributions and ownership interests are recorded.
- Who can approve a purchase, borrowing, repairs or a sale.
- How rent, costs, reserves and distributions are calculated.
- What information members receive and how often.
- What happens after missed contributions, disagreement, death or withdrawal.
Agree the valuation process for an exiting member and how a purchase of that interest could be funded. A right to leave is of limited practical use if the arrangement does not address how and when payment can happen.
How are conflicts and money handled?
Disclose any member’s connection to the seller, agent, developer or manager. Record proposed fees and who approves them. Keep project money and records identifiable, with clear authority for payments and reporting.
Review the property independently. An enthusiastic group decision should not replace title, occupation, technical and financial checks. Read the property due diligence checklist before making a commitment.
When does a wider fund review become necessary?
Raise any proposal to advertise participation, manage investments for others or promise a return before inviting contributions. The structure, marketing, management and countries involved need assessment. Calling an arrangement a club does not settle its regulatory treatment.
For a pooled investment promoted to investors, see property fund and REIT proposals. Solie Law Chambers can discuss the Gambian legal scope and identify questions for other advisers.
Related guidance
Published by Solie Law Chambers. Updated . General guidance; the advice for your matter depends on its facts and applicable law.
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Tell us the number and location of participants, intended property, proposed contributions and whether the opportunity will be advertised beyond the group.
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