PERSONAL PERSONAL SERVICE SERVICE IN PERSON IN PERSON
PERSONAL SERVICE IN PERSON
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What Is Fractional Home Ownership?
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f you think it’s just a timeshare, think again. The phrase "fractional ownership" is typically used to describe shared ownership of
a vacation property by people in an arrangement which allocates
Subject to terms, conditions and availability. Allstate Property and Casualty Insurance Co., Allstate Indemnity Co., SubjectInsurance to terms,Co. conditions and availability. Allstate © 2016 Allstate InsuranceAllstate Co. Property and Casualty Insurance Co., Allstate Indemnity Co., Allstate Insurance Co. © 2016 Allstate Insurance Co.
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Proud to offer Good Hands®
Proud to offer Good protection our What does ittomean tocommunity. beHands® IN good hands?SM It means you get protection to our community. my personal attention. just today, but as your coverage PamelaNot Summers Pamela Summers 828-281-8116 needs change 828-281-8116 over the years. meSte. helpEyou choose the 16 Regent ParkLet Blvd., 16 Regent Park Blvd., Ste. E Asheville, NC 28806 Asheville, right amount ofpamelasummers@allstate.com protectionNCwi28806 th pamelasummers@allstate.com a free Personalized Insurance Proposal. Call or stop in today.
usage rights based on time. In other words, only one owner will be allowed to use a particular home or apartment at a particular time. Here are some answers to your questions: Q: Why would a vacation home buyer consider shared ownership? A: Sometimes it’s hard to justify purchasing a vacation property, whether because of price or because you’re worried you won’t make much use of it. Fractional ownership solves both those problems because each co-owner only pays a fraction of the costs, plus you're more like to use the home during your allocated time.
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Q: How are fractional ownership usage rights divided? A: Deciding how to share the property is usually step one; it’s important to balance predictability and flexibility. Generally rights are decided based on the property’s location and size, its seasonality and the likely length of visits. The usage periods can vary from certain days to certain months, or they can be variable (meaning they change each year). Q: How are fractional ownership expenses divided? A: Operating expenses—think insurance, maintenance, repairs, improvements, utilities and management—are usually divided in
Pamela Summers 828-281-8116 16 Regent Park Blvd., Ste. E Asheville, NC 28806 pamelasummers@allstate.com
proportion to ownership. Q: How do I avoid risks in fractional ownership? of potential co-owners; keep the situation formal (even with close friends and family); use a monthly assessment system for collecting payments from the group; assign each of the essential management
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A: Carefully investigate the background and financial qualification
tasks to a specific person; and give the group the power to quickly force out a co-owner who is not filling his/her obligations. October 2017 | Asheville Lifestyle
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