LFG Fractional Ownership News Blog

by John Gosselin, Esq.

Legal Documents Owners Should Know Something About

Fractional ownership documents fall into two general categories: (i) those that are recorded in the chain of title to the co-owned property and thereby become binding on each subsequent owner even without that owner’s signature, and (ii) those that are unrecorded and bind only those that sign them.

Most fractional arrangements involve a combination of recorded documents like deeds, and unrecorded documents like management agreements, but one should not make generalizations about the kinds of documents or their names since each seller will undoubtedly use their own. Notwithstanding the fact that there are many flavors of documents, it may be useful to become familiar with some common names being used for fractional property documents like, “Declarations”, “User Agreement”, “Agreement to Purchase Real Property”, and “Bylaws.” Since there is no uniform requirement that all documents with a particular name contain the same terms and conditions, it is key that buyers review all documents carefully to make certain that they are getting what they bargained for. Read the rest of this entry »

The Lusso Collection recently introduced a new membership offering, Lusso 21. This new membership plan will enable individuals to experience Lusso Collection’s thirty multi-million dollar properties that are available in highly desirable locations such as Turks & Caicos, the Bahamas, Aspen, and Cabo San Lucas for 21 days each year.   Only 50 Lusso 21 memberships are available at a deposit of $325,000 with annual dues of $21,000.   

Read the full article about Lusso 21.

Browse our other destination clubs in our destination club category.

MSNBC recently featured an article on the world’s most expensive (and exclusive) destination clubs. With deposits topping one million dollars, some destination clubs today offer ultra-luxury properties with exceptional amenities, one of a kind adventures, and even help the environment. The Oyster Circle, Europe’s first destination club, requires a hefty one million dollar deposit, but part of the deposit goes to a non-profit company with the mission to help conserve the planet’s lands and waters. Yellowstone Club World, at one time the most expensive destination club in the world, boasts private islands and medieval castles in their portfolio. The world’s largest destination club, Exclusive Resorts, offers luxury adventure packages such as trips to Antarctica with National Geographic naturalists, or a Safari in Africa.  

Follow the link to read the full article on the Most Expensive Destination Clubs

To view additional Destination Clubs, browse our Destination Club Listings

The Ritz-Carlton Club has officially announced its expansion at The Abaco Club on Winding Bay, a Ritz-Carlton Managed Club.  Great Abaco is the second largest island in the Bahamas and is easily accessible via direct flights from Miami, Fort Lauderdale, West Palm Beach and Nassau.

Usage is based on a tiered points system with Select, Preferred and Premium levels available.  Each residence is assigned a varying nightly point value so that Members can utilize the property’s residences to suit the needs of each of their trips from smaller Cabanas to a larger Cliffside Cottage.

To learn more about The Ritz-Carlton Abaco Club, read the full Market Watch article or visit their website.

To view additional properties in the Caribbean, browse our Directory of fractional real estate listings.

The luxurious Parkside Resort is set to have its grand opening this summer Williamsburg, Virginia. Minutes from Colonial Williamsburg, Busch Gardens Europe, and Water Country, USA, Parkside Resort lies adjacent to the Willamsburg Country Club. Designed in the Caribbean Colonial style of architecture, the resort has earned RCI Gold Crown Resort status based on amenities and service standards. Parkside Resort will offer 40 golf villas on a fractional ownership basis with four to six weeks of annual ownership. The villas are part of The Registry Collection, an exclusive collection of international luxury leisure resorts.  Follow the link to view the complete Grand Opening announcement. 

Visit our directory to view more golf fractional real estate opportunities.

Tidemark Resorts is putting the final touches on the first phase of its Anna Maria Island Residence Club, with an estimated move-in date of September 10th. With plans for 14 beach and 30 well-appointed units surrounding a new marina, the developer is creating an amenity-rich destination with a sense for “Old Florida” rest and relaxation. Twenty buyers have so far stepped up to become the resort’s first owners. The central location of Tidemark Residence Club puts you within minutes of award winning restaurants as well as shopping, dining and nightlife on Siesta Key. Fractional ownership at the Tidemark Resorts is meant to be flexible, with 1/8 shares offering 7 weeks of usage, 3 weeks of “planned vacation” time, and the remaining weeks open as available. Please visit the Tidemark Resorts Beach and Residence Club site for further details, or view other fractional ownership opportunities in the U.S. South Region.