TravelTime
TUG Member
- Joined
- Mar 20, 2018
- Messages
- 8,092
- Reaction score
- 6,460
- Points
- 499
- Location
- California
- Resorts Owned
- All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
https://www.wsj.com/articles/the-no...e-luxury-homes-11545234333?mod=hp_major_pos23
Rather than owning a multimillion-dollar vacation property they may visit just once or twice a year, some well-heeled nomads are opting to hop among bite-sized pieces of luxury real estate they’ve acquired through fractional ownership and so-called private residence clubs.
A fractional property is deeded real estate that can be sold, gifted or inherited. Residence clubs typically have higher price tags, nicer amenities and far fewer owners than timeshares, but both are structured in much the same way and are subject to the same regulations. “Whether you are buying a Rolls-Royce or a Kia, it has the same seatbelt rules,” explained Howard Nusbaum, president and CEO of the American Resort Development Association, a trade group.
Rather than owning a multimillion-dollar vacation property they may visit just once or twice a year, some well-heeled nomads are opting to hop among bite-sized pieces of luxury real estate they’ve acquired through fractional ownership and so-called private residence clubs.
A fractional property is deeded real estate that can be sold, gifted or inherited. Residence clubs typically have higher price tags, nicer amenities and far fewer owners than timeshares, but both are structured in much the same way and are subject to the same regulations. “Whether you are buying a Rolls-Royce or a Kia, it has the same seatbelt rules,” explained Howard Nusbaum, president and CEO of the American Resort Development Association, a trade group.