Fractional Ownership or Timeshare
Fractional Ownership of a vacation home or condominium, while sometimes being referred to as “vacation ownershipâ€, is confused with another shared ownership plan called “timeshareâ€. This is a mistake. While the various Fractional Ownership plans may share some characteristics with its cousin, timeshare, the differences are significant enough to consider Fractional Ownership in a category of its own. The mistake is easily made because, currently, the laws and statutes, in most states, that govern timeshare, also regulate Fractional Ownership.
As a result, the public offering statements and ownership documents use the term “timeshare†as the only legal description that applies, thus confusing the buying public. There is no doubt that Fractional Ownership of a home or condominium evolved from timeshare which, some thirty years ago, initiated the unique shared ownership concept that took a condominium and broke out ownership into weeks. But, Fractional Ownership is really quite different. Timeshare is a vacation product for the broadest segment of the population, and as such is a wonderful concept that gives millions of families the opportunity to vacation a week or two in locations and accommodations that may have been beyond possibility without that form of shared ownership. Fractional Ownership is a different product.
Ownership of more than a couple or a few weeks, in its various configurations and usage patterns, is regarded as Fractional Ownership. That may be anything from a one twelfth ownership (4 weeks of usage) to a one quarter ownership (13 weeks of usage). Recent figures shows that 76% of fractional owners have five weeks of usage or more, with 43% having thirteen weeks of Quarter Ownership.
REAL ESTATE
If you would like additional information about real estate in Breckenridge Colorado as well as anywhere in Summit County Colorado contact us at 1-800-791-3990 ext 421.
Jeffery McClintock, is a real estate broker in Summit County and prides himself on providing clients with professional guidance in all phases of residential new construction, including market research, product development, consulting, marketing and advertising. His personal mission is to bring to you a level of knowledge, experience, commitment, high standards and results to answer your real estate needs. He believes, the most effective way to provide superior service is to build a strong working relationship with you. His system includes regular consultations and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.
