This month’s newsletter brings you a spectacular set of properties from Grand Cayman Island to Costa Rica to Virginia. John Gosselin, Esq., a top fractional attorney from Massachusetts, is a guest contributor this month with an educational article on legal tips for fractional buyers.
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.
Click here to read the full article touching on taxes and other legal implications.
Fractional Real Estate News
Parkside Resort in Williamsburg, Virginia, is set to celebrate its grand opening.
Although Exclusive Fractional Exchanges has not yet been officially introduced to the public, we wanted to be sure that you were the first to know about the upcoming launch.
This industry-first fractional-only exchange program is designed to give owners an easy and affordable way to exchange their weeks with other fractional owners around the world. Members will not only have access to fractional properties listed with us, but they will also have access to the 1,000 whole-ownership homes up for exchange on our affiliate site, Exclusive Exchanges.
If you have any questions or would like to get in on the ground floor of this exchange program, contact Lisa Rohner at (203) 284-0216 or via email at [email protected].