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Resort Equities offers up to eight ownership interests in each residence it sells. Each ownership interest is evidenced by a recorded deed in the residence, reflecting a fractional undivided interest as tenants-in-common. The fastest growing segment of the luxury vacation home, private jet and motor yacht industries is fractional ownership. People are discovering that you do not need to own the entire home, airplane or yacht to enjoy all of the benefits. Luxury fractional vacation home projects are being offered in such resort destinations as Napa Valley, Lake Tahoe, New York, Aspen, Telluride, Deer Valley, Vail, Mammoth, St. Barth and London, San Francisco.
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No. A typical timeshare involves the purchase of a week-long use of a small condominium during the same week every year. Resort Equities residence ownership permits the use of the Resort Equities residence at any time subject to availability. Ownership is represented by a deeded interest in the residence, held as tenants in common.
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No. Club memberships are not real estate interests. Resort Equities sells a deeded real estate interest in a specific home, which can be sold at any time at the discretion of the Owner with the realtor of their choice. Club memberships, on the other hand, typically require that the club manager sell the membership to a new member, if possible, and then only after an initial waiting period and at a guaranteed loss.
Plus, the Resort Equities exchange
opportunity program allows Owners to use other Resort Equities residences, which provides many of the same benefits of club membership programs without compromising the inherent real estate value of a Resort Equities investment.
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Typically six to eight.
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Ownership privileges extend to the spouse of the owner, their parents and adult children.
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Long-term storage will typically be available for Owners. Sporting equipment, clothing, toiletries, wines and other personal items can be securely stored at the residence.
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The owners control the affairs of their Resort Equities residence subject to the terms and conditions outlined in the ownership documents. Resort Equities Management, LLC (REM) manages the reservations, operations, maintenance, administration and accounting for the Resort Equities residence owners.
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All ownership costs including property taxes, insurance, utilities, satellite/cable TV, maintenance and property management are divided among the owners in each Resort Equities residence. Sufficient reserves are maintained and deposited each quarter to replace and update the furnishings and accessories in each Resort Equities residence, as needed.
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REM, in its role as residence manager, prepares budgets from which the owners establish and approve dues and usage fees for each Residence.
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In a typical Resort Equities residence owners are able to use six to eight weeks per year. The reservations policies and procedures outline the several different ways an owner can use their Resort Equities residence. These policies and procedures have been designed so that owners can make multiple reservations well in advance (Primary and Planned Vacations), additional vacation reservations utilizing unallocated time (Space Available Vacations) and last-minute reservation requests (Short Notice Vacations). In addition, these policies and procedures permit owners to request consecutive week vacations.
All Resort Equities properties have individual residence usage programs. Please refer to the appropriate, residence-specific brochure for complete details.
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Owners choose their Primary Vacation week(s) upon purchase and make their Planned Vacation reservation requests once a year. Throughout the year owners can make additional Space Available and Short Notice Vacation reservation requests. The reservation process is administered by REM.
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A rotating priority system has been established to resolve any conflicts when there is more than one (1) reservation request for a certain time period. This rotating priority system has been successfully used for many years at fractional private residence club projects to equitably confirm reservation requests.
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Yes. Through the Resort Equities exchange program owners may exchange vacations with other owners at participating Resort Equities properties, subject to the reservation policies and procedures. Exchange usage for vacations at other Resort Equities properties require only the payment of housekeeping charges.
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Yes. Guests of the owners may use the Resort Equities residence either accompanied by an Owner or on an unaccompanied basis, subject to reservation policies and procedures. Space Available and Short Notice Vacations are for accompanied guests only.
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No. Owners and those invited by the owners are the only individuals who can use the Resort Equities residences.
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Owners will only be charged the housekeeping fees, which are based on an hourly rate. Unaccompanied guests will be charged an administrative fee of one hundred dollars ($100) per stay.
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While no one can say what the future holds for any real estate investment, over the past few years fractional interests in many resort markets have experienced substantial increases in value, including Resort Equities ownership interests. We recommend you contact your professional real estate advisor for specific information relative to the real estate investment potential.
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Like any other piece of real estate, you can sell your deeded ownership interest by yourself or through your local real estate broker at any time. Like any other piece of real estate, you can transfer the ownership to another party subject to the provisions as per the ownership documents. Alternatively, owners may collectively elect to sell their Resort Equities residence as a full ownership property at any time, per the ownership documents.
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Yes. If more than one (1) family purchases an ownership interest, those families will identify one (1) person to be the "Designated Owner" who has the right to make vacation reservation requests for the families. Space Available and Short Notice Vacation reservation privileges extend only to the direct family of the designated owner.
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Yes. The corporation, trust, or other legal entity will identify one person to be the "Designated Owner" who has the right to make vacation reservation requests. Space Available and Short Notice Vacation reservation privileges extend only to the direct family of the designated owner.
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In most cases the normal tax deductions available to vacation homeowners are available to Resort Equities residence owners. You should seek advice from a tax professional for the specifics of which deductions might be available.
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No. Smoking is not permitted in any of the indoor spaces of a Resort Equities residence.
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No. Animals, of any type, are not permitted in the indoor or outdoor spaces of a Resort Equities residence.
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