subject: Own Your Vacation - Save Thousands! [print this page] Own Your Vacation - Save Thousands! Own Your Vacation - Save Thousands!
Fractional Ownership is a solution to second home ownership. It is between whole ownership and timeshares where most people purchase vacation time in a resort usually a week at a time. Factional Ownership, in simple terms, you are buying your vacation home in partnership with other owners who share the cost with you. Fractional vacation homes have the appeal of defraying costs by sharing them with others, and also making good use of the time that you are not using the property.
How does it work?
Fractional Ownership is similar to any other real estate purchase, except that you are only purchasing a fraction of the property instead of the whole property. Different developers have a variety of options. The fractional shares can vary from a tenth (1/10), twelve (1/12), thirteenth (1/13th) to a half share (1/2). A thirteenth share, for example, provides one weeks use of the property each season for a total of four weeks per year. If this were all that you wanted, you might want to compare the costs to a timeshare. However, more common are quarter shares, where you use the property one week out of every month, sharing the property with usually three other purchasers. Under this unique form of title ownership, an owner has registered title to a one-quarter interest in the condominium, estate or townhouse.
The Benefits
One of the main reasons people buy as a fractional, even when they can afford the entire purchase, is that the expense and responsibility of ownership is reduced. This makes the second home truly a vacation, as you can simply go there, and know everything is in order. At the same time, you have the deed to the property, and you can pass it down through generations in your family, or resell it through a broker. Some of the fractional developments also participate in worldwide vacation exchange clubs. This offers the ability to travel elsewhere for vacations, while still maintaining the fractional ownership of your own property. Many of the fractional developments are in high-end resort locations, where condominium or property ownership is priced at the high end. Again, the fractional owner has access to all the amenities in the resort area, while paying substantially less to get in.
To learn more about how to purchase timeshare resales worldwide, please call Mark Nayman at 800-555-1353.
