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Fractional Ownership
Contact Us
In Europe contact NeilEmail: neil@yourfraction.net
Tel: 44-1620-842989
In North America contact Ken
Email: ken@yourfraction.net
Tel: 1-772-224-6378
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YOUR RESPONSIBILITY
When you become a fractional owner, you will be responsible for your share of the running costs (insurance, utilities, etc) maintenance and replacement of furnishings.
It is really the same as owning your own house only it is yours to use for a specified period of time
Fractional Ownership is one of the fastest growing sectors of the property market and in 2005 accounted for $1.5 billion of sales in the US alone. It provides both a legal and use structure that makes sharing a holiday property easy and brings ownership within reach of many people.
There are a number of different fractional programmes but the bottom line is that there is a carefully documented plan in place to ensure that each of the owners has absolute certainty about when they can use the home.
From the outset all parties sign up to an agreement that clearly states the obligations and responsibilities of both the Owners and the Management Company.
The structure may cater for several categories of owner within a single property. For example, families with children may wish their fraction to include weeks during school holidays whereas retired couples might be keen to have ownership at quieter times of the year.
Some structures may mean that you own a number of shares in a company specifically set up to own the property. You will buy an asset not a lease.
YOU WILL OWN
'A FRACTION'
When you decide to proceed with
fractional ownership you own
a fraction
of the property, usually defined as a number of days out of 365 or weeks out of
52, and you continue to do so in perpetuity
or until you sell or perhaps leave it to your family in your will.
To help you compare fractional ownership to other investments, you can download a questions and answer sheet here
Typically fractions range from 1 to 13 weeks
and the programme at each property should normally reflect its location and the
profile of the people to whom it will appeal.
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Attractive new rental units will be ready in the next few months
Do you want to be a sole owner? You'll find
exciting possibilities at Investment Properties Florida