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What is Fractional Ownership?Fractional ownership is a term to describe the division of an asset into shares.
The Fractional industry has now grown to offer an extreme variety of shared ownership assets on the market.It all began with jet airplanes but now have moves into such diverse offerings such as Real estate, luxury cars and even designer handbags. Ownership though this method allows each owner or shareholder usage rights and property privileges through the deed or agreement. Fractional Ownership is structurally different and is not the same as a timeshare. There are a variety of programs on the market that allow a much greater usage and benefit program than the known timeshare products. With a timeshare you are allocated a time interval that you are allowed to use as per the documents and agreements that come with the interval share. You have no equity in the buildings or the land. Fractional Cottage Ownership in OntarioThere are varieties of the program in the cottage market in Ontario.
Some cottage ownership options may expire in a set number of years.These systems would better be described as a highbred of the two. As the shares get closer to expiring, you should consider the value to be in question. They can vary in style and ownership weeks as well as the features and amenities offered. All have their merits and depending on the cottage ownership and location you have envisioned they may appeal to you. The ownership structure in Ontario is 'usually' based on a Not-for-Profit corporation holding title to the property. There are a limited number of shares created based on the number of buildings and co-owners in the development. Management of the buildings and lands are by a board, usually consisting of the co-owners. These groups look after the day to day running of the property after the developer has stepped out of the picture. The ultimate benefit is it divides a property into more affordable system for families or individuals. Depending on the system of ownership, you own days or weeks of usage that you can use the property without worrying about the day to day care of the property. Our Program- A Co-Ownership System!
In the best way of describing our program, we are a highbred system.We are not building a development with multiple properties. Our program is a co-ownership system for families to share an existing cottage. We will not own or retain the right to the ownership of the property. We will however remain involved though the maintenance and property care agreement. Our program targeting existing properties allows us to provide a greater range of waterfront and locations. Provided all due diligence is approved we will move forward in select areas to provide the program. From classic, rustic camp style properties to luxurious cottage properties we can provide a wide and unique offering. Our program of cottage co-ownership is based on the system that allows you a share of the of the property. We set up the program for you and provide all appropriate documentation. We provide the property care and support to ensure the property remains as your treasured vacation home for many years to come. Request Information |
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