Kauai Fractional Ownership
Families and friends have been purchasing vacation homes together for
decades. Sharing the purchase price and expenses together has made
vacation home ownership a reality for millions of Americans. According to
the National Association of Realtors, 40 percent of all residential real
estate transactions in 2005 were for either investment or vacation homes.
Altogether, 3.34 million second homes were purchased in this country, and
a growing number involved various fractional ownership arrangements.
The strong demand for luxury vacation homes in premier resort areas like Princeville, Kauai, is expected to continue for decades to come. This is based largely on the principle of supply and demand. Fueling this demand are seventy-eight million baby boomers, many of whom have significant financial resources and a desire to enhance their quality of life.
The result, fractional vacation ownership, has emerged as the fastest-growing segment of the real estate market in the United States over the past three years and, according to industry experts, is expected to double again in the next three years.
Fractional real estate ownership is very much like ownership of your principle residence. As a fractional owner, you will enjoy the peace of mind that comes with having a deeded interest in your vacation home. In "legal-speak," you have a fee-simple, undivided fractional interest as a tenant in common with each of the other owners of your home.
Simply stated, owning a deeded interest in a private fractional residence entitles you to all the benefits and rights that come with normal home ownership. A set of owner's documents defines how the time will be divided, how bills will be paid, and how decisions will be made.
As tenants in common, all owners are responsible for their portion of the annual operating costs (taxes, insurance, utilities, maintenance, cleaning, property management fees, etc.). In most fractional ownership plans, each owner has an equal percentage of property ownership and thus shares these expenses equally.
Each fractional owner will have a deeded one–sixth interest in a specific sixty–day fraction or interval. A comprehensive, easily understood set of legal documents defines the ownership plan and fractional rules, thus protecting each owner’s investment. Our goal is to help you live your dreams now, by owning your piece of paradise without the hassles and cost of traditional vacation home ownership. And financing is available.
You will own your luxury vacation home in partnership with other
like-minded people who want to own a luxury second home in Kauai, Hawaii,
and who recognize the value and benefits of fractional ownership.
Our goal is to help you live your dreams now, by owning your piece of paradise without the hassles and cost of traditional Hawaiian vacation home ownership.
©2007 Randall Harris / Island Fractional Homes
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