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| This charmingly beautiful rust |
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| Luxury and affordability come< |
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| 2 Bedroom, 2.5 bath, garage, f |
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What is partial ownership?
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Partial or fractional ownership allows participants to purchase and own a percentage of
exotic homes, luxury cars, secluded resorts, fruitful vineyards, hottest
restaurants, state of the art jets, lavish yachts or perhaps a $100,000 Rolex.
They enjoy all the benefits of ownership without paying an exorbitant price for
something they use only occasionally. This also allows them to afford a more
expensive home or a bigger yacht than they could have bought outright.
The price of the asset is split among the owners, who pay a set fee to the asset
management company, which handles maintenance, insurance, scheduling and others services,
sparing the owners the troubles normally involved in owning the asset.
By employing assets management, shareholders can deal only with the managing company,
they never have to worry about spats with difficult partners; in fact they almost never
meet their ‘‘partners.’’ Owners can also claim any tax advantages available to asset owners.
Usually the asset is sold after a certain length of time agreed upon by the owners,
and the proceeds are split among them. If the asset has increased in value, they profit.
In theory, the concept could be applied to any type of asset.
The partial ownership concept makes especially good sense when purchasing an asset,
which most people use only occasionally. While nearly everyone would like to have a
home-away-from-home for holiday escapes or a luxury yacht for island hopping trips,
most people think twice about buying outright for such short-term use. What if the roof
falls in or the electricity or plumbing needs to be replaced? Who will care for the
assets when the owners are not there? What about security? Partial ownership solves most
of these problems. The management company handles maintenance and repairs, and because
the asset is in use most of the time, security is less of a concern. The advantage over
renting, time-sharing or clubs is that participants have an equity stake in an asset and
stand to profit from their investment.
Flexibility is one of the key benefits of partial ownership, allowing owners to use
the asset over their allotted time for a fee when possible. Conversely, when they aren’t
using their share, it can be rented or traded to others. It is this flexibility that
PartialOwner.com provides.
While it is a fairly new sector, the partial ownership business more than quadrupled its
size in the 1990’s. We believe this is the best time to get involved, since the more
people involved, the wider the options available. So start using PartialOwner.com and
find that luxury assets you have been dreaming of!
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Excerpt from “Partial property: The way, truly, to have and have not”,
International Herald Tribune,
Thursday, October 2, 2003
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