Fractional ownership is the shared ownership of a villa with "partner" owners in the same unit. Villas in this program are divided into fractions of 1/8 (6 weeks) or 1/4 (13 weeks) per year, for life.
The concept isn't new, but the term "fractional ownership" is. Friends, relatives, and business partners have been pooling their resources to buy a second home for centuries. In the early 1990's, fractional ownership of private jets became popular, followed by yachts, then luxury vacation homes.
No, it is not a Timeshare. The buyer owns titled real state on a particular villa (as opposed to units of time or points). As the property appreciates in value, so does each individually deeded fraction. Owners can sell their individual fraction whenever they choose.
You will be able to plan ahead, years in advance, knowing exactly when you have the highest priority making it optimum for you to make your reservation or, you may use it on a moment’s notice, subject to availability.
Yes, the property will be exclusively yours to use for the time alloted by your contract purchase. The housekeepers completely clean the property and prepare it for each owners’ arrival. You may arrive any time after the scheduled arrival time. Many owners will skip the weekdays and arrive for extended weekends only. Thus, another owner may use the property, on those days when you are not, maximizing everyone’s use. In some years you might end up using the property 6, 15 or even 20 weeks a year, when other owners don‘t wish to use it as much.
This type of vacation real estate ownership is ideal if you want the benefits of owning an impressive second home (typically of more value than you would afford on your own), complete with management services, located in a very exclusive community, but you can't justify whole ownership because of your projected limited use.
Most fractional owners are frequent visitors to the resort area, and want something they can call "their own", with friends and family members. These buyers aren't looking to be sold vacation time, but instead want an upscale vacation property without the responsibilities and costs associated with a wholly owned home.
Both offer luxurious accommodations and services for the person seeking a vacation home. However, the residence club/condo hotel tends to be an individual room or suite located within a major multi-unit complex.
In most cases, the ownership is of a "like kind unit", meaning you will rarely stay in the same unit twice. Effectively, you have bought a “floating floor plan” in the complex, even though you may have title to a specific property, or unit. With a Fractional Villa you will own and enjoy the same property, on every visit, not just a floor plan where you float from similar unit to unit. Additionally, a private estate Fractional Villa assures you the highest degree of privacy.
Family, friends, business associates, or anyone else you designate, can be accommodated as your guests. Guests are treated as family and may join you, or use the property should your schedule not allow you to attend at the same time. Guests shall be your responsibility and required to respect the CC&R’s, Bylaws and Rules & Regulations.
Yes! our villas do allow for the rental of your priority time. With rental potential, some villas may qualify for 1031 exchanges, and additional tax benefits, that your professional tax advisor will need to determine for you.
Fractional ownership is the same as ownership of any other real estate, wherein you enjoy potential appreciation, depreciation, interest and expense deductions. At your discretion, you may sell your share of the property, gift it, or leave it to someone in a Will. Your tax advisor will be better suited to provide specific details, and advise what your individual tax circumstances may offer.
We are offering financing for a limited time. We can finance your property for up to 10 years, with a typical deposit of 25% of the share price. Most owners will, however, either pay all cash, or opt to pay for their share with equity from their primary residence, using a line of credit.
The property manager oversees the complete maintenance and care of your villa, including the ongoing housekeeping. Your expense fees cover the cost of all maintenance, repair, replacements and wear and tear as required. A professional housekeeper is supervised by the manager, assuring the property is always clean and maintained in a first class condition, as you would expect.
Owners and their guests are responsible for any specific substantial damage repair, if incurred during their use of the property. Landscape and pool maintenance is performed on a regularly scheduled basis by local professionals. Structural maintenance, including painting, and repairs, is provided by the appropriate local trade contractors, as and when needed.
You may sell your share to any other owner of the property, or you may sell it to any third party. Typically, resale shares are listed with a local real estate broker, who will promote the sale of your share the same way they promote any other property for sale.
You may also sell your share yourself, by advertising in any publication, newspaper, or on the internet at free real estate listing sites. You set the price and are in control of the sale, just like any other property sale.
