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What is fractional ownership?
Fractional Ownership, or Shared Ownership, in real estate is a rapidly growing alternative to Whole Ownership designed so that each owner is deeded a specific interest (fraction) of a specific residence. Fractional ownership is a deeded property with the same rights as any other real estate purchase. Each co-owner owns a percentage of the property and is shown on the title and deed as an owner. It works very well for the family or individual that wants a vacation home or real estate investment, but does not want to pay the full price on a second home that they will only use for a few weeks a year.
1/12th ownership at the Lodges at Cannon Beach:
The Lodges at Cannon Beach utilize a 1/12th fractional interest fixed week
calendar (4 weeks per year). The calendar rotates one week forward each year.
Simply, in the case of example Share A (see below), an owner receives 5 weeks in 2009, week 1 (January 2), week 14 (April 3), week 26 June 26th), and week 40 (October 2) they also receive one bonus week, week 27 (July 3). Each ownership share receives a bonus week every 6 years.
Download this Cannon Beach Condo usage graphic as a PDF.
See here for more Frequently Asked Questions about Fractional Ownership.
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