FAQ's about Fractional Ownership
What is fractional ownership?
Fractional ownership involves the purchase of a number of weeks of use in our vacation properties, all of which are completely furnished. You own an equity interest in the property for life. You can re-sell this interest or will it in your estate. Our properties are in residential areas, with many amenities and activities close by.
What do I get with a fractional purchase?
- An equity interest in fractional real estate property in perpetuity until you decide to sell, transfer or will it;
- Specific fixed weeks in your property each year.
- Flexibility to use, loan or rent your weeks each year.
Why should I buy a fractional interest instead of a wholly owned second home?
- Provides the owner with a sensible alternative to wholly owned second homes;
- Comparable real estate would cost significantly more for a property that you will only use for a few weeks per year;
- Enables you to own a high quality vacation residence at a significantly lower cost and removes all of the hassles of maintenance and upkeep.
- Provides the opportunity of sharing in potential real estate appreciation.
- Fractional ownership also affords you the ability to own just the number of weeks that you will use annually in the seasons that you like.
Why should I buy fractional vacation property instead of searching for holidays at a good price each year?
Purchasing fractional real estate allows you to obtain and potentially increase your equity ownership value in vacation property;
- You can use this to vacation in many different ways each year.
- The quality of accommodation is larger and more luxurious and completely furnished than most rental accommodation.
- You can depend on the look, location and quality of your accommodation.
How is fractional ownership different from timeshare?
- Fractional ownership provides an equity interest in vacation real estate.
- Properties are very high quality.
- Each time you use your property, you know exactly the location, look and feel of where you will stay.
- You own an asset which will increase in value.
Can I own the fractional interest with family or friends?
Yes. If you want to purchase with a family member or friend, we can arrange for this.
What if I don't know the other owners?
Few people will know the other owners before purchase. The ownership structure eliminates the need. There is no overlap in the calendar dates and there is no need to interact socially with the other owners of your residence. However, long-term friendships will often develop with owners of other residences for the same weeks you own. An important point is that we want all owners to take ownership pride in keeping the resort in superior condition.
How are my weeks of use chosen?
When you purchase your ownership interest, you will be allocated your week periods through the year. These weeks rotate forward every year so that all owners receive a fair allocation. There are options to exchange these in any particular year to have flexibility.
Can family or friends stay?
If you loan your property to a family member or a friend you must be sure that your guest is familiar with the rules of the resort and respect them. There are maximum occupancy stipulations for each property. The management company must be advised in advance if you plan to allow a guest to use the residence in your absence and you, as the owner, are responsible for any damage or other issues if they arise.
Do guests and family members have the same privileges as owners?
Your family members and guests that are staying in the property with you share the same privileges as an owner. They are permitted to use any available amenities and facilities, up to the maximum occupancy allowable for your residence.
What if I want to sell my fractions?
If you want to sell your fractions, you can do so privately. If you want us to assist you, we will help you sell your fractions. Often, existing fraction owners desire to purchase more fractions and this will be a potential source for selling.
