Why Fractional
Do you like the idea of owning a second home in your favorite ski location but don't want the burden and cost of repairs and upkeep?  Do you love luxury hotels but dislike living out of a suitcase?  If you answered "yes" to either of these questions, you're not alone. A new breed of second home ownership called "fractional ownership" is becoming increasingly popular with busy professionals looking to maximize their vacation time.  Fractional ownership is partial ownership of a property. With fractional ownership, a property is owned and shared by several individuals. At the Quarters at Bear Crossing, as the name implies, ownership is by four individuals each owning an undivided quarter of the property.

While people may desire a mountain retreat, they realistically may only be able to use it once a month. That’s the beauty of quarter ownership. Instead of becoming the sole owner of the property, you purchase a share of it, as do three other people. Now, you own 1/4 of the property and have others to share in the burden of maintenance and taxes.

Often, people confuse fractional ownership with timeshares. Both fractional ownership and timeshare situations are common with vacation and resort-type properties. With a timeshare, however, you would purchase a specific amount of time to spend at the property, such as 3 weeks out of every year. You would not actually own any portion of the property. With fractional ownership, you would actually own the portion of the property you purchase.

When you opt for fractional ownership in a property, there will be sharing involved. For example, if you purchase a share in a property with three other fractional owners, you may have use of the property for one week out of every month. The other owners would have their weeks as well and you would not have use of the property at that time.

Fractional ownership is attractive to many because it offers an easy way to own vacation property. With this type of ownership, you have a place to go to vacation, yet are freed from being solely responsible for the property and related expenses. A third party or management company takes care of everything from upkeep and utilities to taxes and insurance. Though you have little responsibility with a fractional ownership, you do get the deed to the property. You can gift it or sell it as you wish.

Fractional ownership of second homes has been growing in popularity as people realize there is little sense in paying the full price for a property which you only use a few times a year, even if you can afford it.