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What do I actually own when purchasing a Luxury Lodging private estate? Fractional real estate ownership is very much like ownership of your primary home. As a fractional homeowner, you will enjoy the peace of mind that comes with having a deeded interest in your luxury vacation home. In “legal-speak” you have a fee simple, undivided, fractional interest as a tenant in common with each of the other fractional homeowners. Simply stated, owning a deeded interest in any of the luxury lodging private estates entitles you to all the benefits and rights that come with typical home ownership, including the possibility of appreciation of the property. How much time do I own? Because most second-home owners can only travel 4-5 weeks a year, we have designed a fractional ownership plan that offers both fixed and flex time. Each owner receives six weeks of annual use. This use includes 3 weeks assigned and 3 weeks open on a first-come, first-serve basis, giving added flexibility. Each year you will receive a premium week as one of your 3 assigned weeks. In the first year a lottery will determine the starting order, and then each year it will rotate so that each owner receives the highest priority every 8 years. You can trade with other owners to better accommodate unique circumstances. We also offer banking weeks in other locations. Can I buy more than one fractional ownership interest? Yes, you can purchase more than one fractional ownership home interest. Ask us for details regarding Luxury Lodging’s discount for multiple-share ownership. Can I buy one fractional ownership interest with someone else? Yes, you can purchase a single fractional ownership home interest with more than one party, thus further reducing both your up-front purchase cost and annual fractional home ownership cost. Although a single fractional interest cannot be legally divided into less than the defined 6 week interval, multiple parties may share their six weeks as they choose, subject to the Co-Ownership Agreement. The by-laws provide additional guidance with respect to the voting rights of fractional ownership, specifically where more than one family owns a single fractional ownership interest. Ask us for more information.
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