One of the many fast growing forms of vacation property ownership is Fractional Ownership. Also know as Private Residence Clubs, fractional ownership is often misunderstood as another time-share opportunity.
These are not time shares, (A contract specifying a right to use a property on certain weeks).
Fractional ownership is an actual, deeded interest (usually 1/4 to 1/13): You can sell it, leave it in your will, put it in a trust, almost anything you could do with a normal deeded property you can do with a fractional ownership property.
The catch is that you only get to use it a fraction of the time, hence the name: Fractional Ownership.
Of course, there's no confusing fractional ownership with full ownership. You can't redecorate the living room or hang personal photos on the wall.
What do you get when you purchase a Fractional Ownership?
Depending on the location and type of structure, owners may get a beautiful, high-quality property, located in a fantastic location. Property types include: Detached single family homes, hotel suites, cabins, townhouses, villas or an upscale Penthouse Condominium located in a tropical paradise.
With great services and amenities offering a carefree vacation lifestyle fractional ownership may typically be purchased for 10 or 15 percent of what someone would normally have to pay to buy the house on their own.
The burden and cost of repairs and upkeep of buying and maintaining these properties is shared by all purchasers of the property. Homes, instead of sitting idle most of the time, are nearly always being used.
The amount of time you are actually allowed to use Fractional ownership properties varies from property to property.
These are not time shares, (A contract specifying a right to use a property on certain weeks).
Fractional ownership is an actual, deeded interest (usually 1/4 to 1/13): You can sell it, leave it in your will, put it in a trust, almost anything you could do with a normal deeded property you can do with a fractional ownership property.
The catch is that you only get to use it a fraction of the time, hence the name: Fractional Ownership.
Of course, there's no confusing fractional ownership with full ownership. You can't redecorate the living room or hang personal photos on the wall.
What do you get when you purchase a Fractional Ownership?
Depending on the location and type of structure, owners may get a beautiful, high-quality property, located in a fantastic location. Property types include: Detached single family homes, hotel suites, cabins, townhouses, villas or an upscale Penthouse Condominium located in a tropical paradise.
With great services and amenities offering a carefree vacation lifestyle fractional ownership may typically be purchased for 10 or 15 percent of what someone would normally have to pay to buy the house on their own.
The burden and cost of repairs and upkeep of buying and maintaining these properties is shared by all purchasers of the property. Homes, instead of sitting idle most of the time, are nearly always being used.
The amount of time you are actually allowed to use Fractional ownership properties varies from property to property.
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