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WHAT IS VACATION HOME FRACTIONAL OWNERSHIP?
...ylaws), a recorded declaration of covenants conditions and restrict...
WHAT TYPE OF DOCUMENTATION IS NEEDED FOR A VACATION FRACTIONAL OWNERSHIP ARRANGEMENT?
© March 16, 2007 by D. Andrew Sirkin.
Any reproduction or use of this document or any part of its content
requires the written consent of the author. Mr. Sirkin is chief attorney for Paris Pie...
WHAT LEGAL RESTRICTIONS APPLY TO VACATION HOME SHARING ARRANGEMENTS?
... Contact Mr. Sirkin at
dasirkin@earthlink.net, or visit www.andysirkin.com Several types of legal restrictions can apply to fractional vacation home sharing arrangements. These can be grouped in fou...
What is your booking procedure?
We
normally ask for (1) a lease to be signed and (2) a 50% deposit to be
paid at booking date to confirm your dates, with (3) the balance due 60
days prior to arrival date. (4) A damage deposit che...
I am concerned about owning an apartment with other people that I don't know. Won't that be a problem?
... With a well-managed fractional ownership investment, and a well structured set of bylaws and usage conditions that apply everyone in the Association, and in particular people you don't know, it is mu...
Who takes care of cleaning before and after we leave?
The
apartment should be clean and ready for your arrival, unless you arrive
earlier than the contracted check-in time and the cleaning is still being performed. We don't ask you to clean the apartme...
What is your cancellation policy?
In the event of cancellation, we retain a pro-ratio portion of the rental fee as follows:
1. 50% of the total rental fee if the cancellation is notified 31 days
or more before the start of rental p...
SHOULD FRACTIONAL VACATION HOME CO-OWNERS BE ABLE TO FORCE A SALE OF THE ENTIRE VACATION HOME?
...o make leaving possible, but selling partial interests may be difficult or impossible due to market conditions, bad group dynamics, the condition of the property, or other unpredictable factors. So e...
SHOULD VACATION FRACTIONAL OWNERS BE ALLOWED TO SELL THEIR SHARES OF THE VACATION HOME?
...he needs or wants to leave. I strongly recommend that individual re-sales be allowed, subject to restrictions intended to protect the group from incompatible or unqualified buyers. These protectio...
HOW DOES FRACTIONAL OWNERSHIP DIFFER FROM TIME SHARES?
... to vacation somewhere else, how easy is it to get the location I want at the time I want it? What restrictions apply to re-sale, what competition will I face within the property and in the immediate...
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