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Fractional Ownership or Timeshare?

fractional ownership

March 25, 2019 – by Primo Management Group

fractional ownership

Is fractional ownership just another name for timeshare?

The world of vacation ownership can be confusing and fractional ownership is no exception. Let’s take a look at what it is, what it isn’t, and why you might want to steer clear.

What is Fractional Ownership?

Fractional ownership is any property arrangement in which two or more parties own the same property together. The property can be anything from a boat to a vacation house. However, today we’re talking about vacation properties. So in that case, two or more owners would own a home or condo together and each would be able to use the property at different times.

You may be thinking, “That sounds a lot like a timeshare.” And you’d be right. In fact, deeded timeshares are a type of fractional ownership. So why call them by different names? One reason is that timeshares have a bad reputation in some circles. So sometimes developers will use the term fractional ownership to describe a timeshare. Be very wary of any sales rep or contractor trying to hide the truth about what they’re selling. However, many fractional ownership arrangements are not deeded timeshares.

Key Differences

In all things related to vacation ownership, each case is unique. So much depends on the individual situation. However, here are some key differences between deeded timeshare ownership and fractional ownership.

Key Similarities

While fractional ownership may have some advantages over timeshares, unfortunately, many of the disadvantages of timeshares still apply. Here some of the key things to watch out for.

Difficult to Sell

Timeshares are notoriously difficult to sell. And like selling your timeshare, selling your fractional ownership can be tricky. Many people are wary about entering into what is essentially a partnership with people they don’t know. In fact, it’s even difficult to find a real estate agent willing to work with you on a fractional ownership sale.

Governed by Someone Else’s Rules

Because you share the property with others, you don’t get to use it the way you want to. You can’t do your own decorating. You can’t leave your personal items between visits. And you can’t use the property whenever you want. Plus, as with any group dynamic, you may face disagreements between owners. Many properties solve this problem with a Homeowners Association. The HOA makes and enforces rules and is responsible for ensuring general upkeep. In any case, you’ll be subject to the shared rules and agreements.

Annual Fees

You’re still subject to annual fees, just like a timeshare owner would be. The costs may not be called maintenance fees, but you will still have to pay for routine, ongoing maintenance, repairs and upgrades, and property taxes. And if you do have a Homeowners Association, you’ll also pay HOA dues.

Is It Worth It?

That’s a question you’ll have to answer for yourself. However, in our line of work, we see a lot more people unhappy with their fractional ownership than not. Why not skip the long-term commitment and headaches and vacation where you want, when you want, how you want?

If you do need help getting out of your timeshare, contact us today. We offer a free, no-risk consultation that you don’t have to share with anyone.

(Image by Quinn Kampschroer from Pixabay)

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Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.