Can you please comment if you think prospect buyers will be interested in purchasing a second home with this conditions.
A perfect system for Snow birds and baby boomers.The largest five start resort community of the Caribbean with two world class golf courses. Puerto Rico, USA. No passport needed for US citizen. I will paid 25% referral fee to any license broker.
Fractional: TICs For Vacation Home or Condominium
Vacation home co-ownership (sometimes also known as fractional ownership) is an arrangement where several individuals or families co-own and share use of a vacation condo.
What is a tenancy in common (TIC)?
The acronym “TIC”, which stands for tenancy in common, along with the terms “co-tenancy” and “fractional ownership”, refer to arrangements under which two or more people co-own a parcel of real estate without a “right of survivorship”. This type of co-ownership allows each co-owner to choose who will inherit his/her ownership interest upon death. By contrast, the type of co-ownership called “joint tenancy” requires that each co-owner’s interest pass to the other co-owners upon death. Will you be interested in this unit? Please participate in the poll below. Thank you.