Frequently Asked Questions - Property Management
About Fractional Ownership - The Benefits of Fractional Ownership

Ownership Frequently Asked Questions

What are the benefits of being an owner?

Owners have a deeded real estate interest and experience all the joys and rewards of owning a million dollar -plus vacation property. Like other forms of real estate ownership, an owners's owner's fee simple undivided deeded interest can be sold or transferred by the owner, or sold by a licensed real estate agent at any time. And, ownership is at a fraction of the cost allowing many buyers to own a property far more desirable than they would have been able to purchase as a single owner.

Additionally, owners have the ability to vacation in the most desirable destination, Rancho Mirage, with privileged access to top-of-the-line amenities.

And while at the property, our owners are free from all the usual hassles of ownership

How is title held?

Title is held as an individual interest in Tenancy-in-Common. You receive a grant deed to the property in fee simple title.

What is the tenancy-in-common agreement?

This is the legal agreement between the Owners that describes all the conditions of the joint ownership. The agreement incorporates the use provisions and defines the rights and obligations of the owners.

Who has ownership privileges?

Ownership privileges extend to the spouse of the Owner, their children and to direct family members (i.e. grandparents and grandchildren).

How are usage weeks assigned?

Each share entitles you to six exclusive weeks of ownership every year. The weeks are divided into 2 week intervals for use 3 times a year. As each year passes, your vacation weeks rotate forward so you can enjoy the changing beauty and adventure of each new time of year. Should you need more time, additional shares are available for purchase. Two or more shares purchased entitles an owner to a special golf membership offering at Mission Hills Country Club. Contact us for further information on this opportunity. You may also trade times with other owners if your weeks do not fit into your schedule.

When I sell, who sets the price and terms?

You do. You do not have to have any involvement of the other owners, aside from the first right of refusal of another owner wanting to purchase your share.

Do I have access to resort type amenities? (spa, fitness, dining golf, etc.)

Each share automatically comes with a fitness, dining, tennis membership at Mission Hills Country Club. The fitness center has a state of the art spa. This club was named Best Private Club in the Desert for 2007. It is known as the home of the LPGA Kraft Nabisco Dinah Shore tournament. The tennis center includes 6 grass, 4 clay and 19 hardcourts and was host to the Davis Cup in 2006. An exceptional value for each owner. Two or more shares purchased entitles an owner to a special golf membership offering at Mission Hills Country Club. Contact us for further information on this opportunity.

Is storage available?

Long-term storage will typically be available for owners. Sporting equipment, clothing, and other personal items can be securely stored at the property.

Is this considered a timeshare?

No. Timesharing typically provides for a right of usage via a Lease that extends out 29 or 31 years and then reverts back to the Developer. Timeshare is characterized by owners leasing the right to use a specific unit for a specific week.

In contrast, this is real estate deed that is guaranteed by a Title Insurance Policy. The Deed you receive is the same as if you bought any other piece of property in the country and therefore affords you the ability to sell it when you want, how you want and/or pass it on to your children and future generations.

How is a fractional share different than membership in a destination club?

Club memberships are not real estate interests. This is a deeded real estate interest in a specific vacation property, which can be sold at any time at the discretion of the owner and with the realtor of their choice. Club memberships, on the other hand, typically place resigning members on a waiting-list and resell the membership at a sizable guaranteed loss.

What services are provided?

A concierge service is available to owners. They can provide pre-arrival grocery shopping service, reservations and assistance for an additional fee. Regular housekeeping and all property management services are included for each owner.

Property Management

Your vacations will be play days, not work days…..

Professional property management for carefree ownership and vacations….

Our golf fractional prearranges for a property management company that covers every need, so your vacation is hassle free. You can enjoy your golf home knowing that the bills are paid, the repairs are made and your investment is under the stewardship of a reliable professional. Here are some of the duties your golf home property manager will perform:

Accounting and Finance

• Prepares annual operating budget
• Keeps the books and prepares reports
• Handles fund accounts: Maintains checkbook, pays bills
• Prepares tax information

Property supervision

• Provides for routine necessary repairs
• Handles emergency repairs
• Provides for home upkeep: Maid, Gardner, Pool Services, etc.

Owning a fractional frees you of the many headaches of a second home, so the time you spend at your golf resort is pure relaxation and fun. Everything is ready and waiting for you and your loved ones to enjoy. All you need to do is pack your bags, and your clubs, load up the family and come to your golf resort.

About Fractional Ownership….

It is not a timeshare….

Please do not mistake fractional ownership with owning a week in a timeshare community. The difference is significant. It is nothing like owning rights to a certain week in a crowded complex.

Your fractional ownership gives you a deeded, fee-simple title to your interval in your own private golf home and the land that it is on. You treat your fractional share like the valuable asset it is. You can pledge it for financing, sell it, or include it in your will for the benefit of your loved ones.

You can finance your interval ownership

Financing is available to help you comfortably obtain your Interval Ownership Share. Your share is a deeded fractional interest. With a fee-simple title, you can pledge your share as collateral for a first mortgage loan. You may work with your favorite financial institution, or we can refer you to a reputable mortgage company specializing in second home mortgages. Fractional properties are often used in 1031 Exchanges. You still get the benefits of a 1031 Exchange just as you would have if you had purchased a home without partners.

You can will your Fractional Ownership to your loved ones.

Your interval share is a valuable real estate asset, and as such you have the power to share it with future generations. You can pass it along to your loved ones and include it in your will, allowing family to continue to create fond vacation memories for years to come. As you can see, fractional home ownership is much better than a timeshare!

Your golf home is cared for by owners who care.

Experience shows that fractional ownership groups upkeep their homes better than other situations, because renting to third parties is not financially necessary and therefore intermittent. Owners stay much of the year and take pride in caring for their beautiful new home. The program is established and secure, providing a forward-thinking approach that pre-thinks all the problems and funds long-term maintenance, taking into account the many practical issues of home ownership.

You can purchase multiple shares for more weeks

You may purchase two or more shares to spend more time at your golf resort or to increase your investment. Ask us about special golf incentives for purchasing 2 or more shares.

You can sell your share(s) should you decide to.

If the time ever comes when you want to sell your interval share(s) in your golf home, you are free to do so. Your ownership documents provide for this. You also have a unique market of fellow owners who traditionally provide buyer candidates seeking additional shares.

We make it easy to buy and own

Although buying a fractional property may be a new experience for you, our team has worked out the kinks to make the process virtually painless. Take the first step by contacting us. We'll listen, learn about your needs and answer your questions. When you are ready, we will help you become an owner of a great golf course property home. You will be surprised at how easy it can be!!

The Benefits of Fractional Ownership:

Superior purchasing power
Shared cost
Asset based investments
Pay a fraction of the purchase price
Maintenance free ownership
Benefit from your properties capital appreciation

If you like to holiday in a beautiful location, stay in a superior residence, while enjoying the benefits of property ownership and capital appreciation, then fractional is for you!!

Fractional Ownership is NOT a timeshare! It affords much of the freedom and usage benefits, offered in timeshares, however, the fundamental difference with fractional, is that the purchaser owns part of the title (as opposed to units of 'time'). Therefore, if the property appreciates in value, then so do the shares. As with whole ownership, fractional owners can sell whenever they deem necessary or prudent, releasing the capital growth of the property.

A second home has been called the ultimate discretionary purchase…something that many people would like to have, but the frustration of not being able to spend more time at it hardly makes sense. The expense of a mortgage, upkeep, insurance and taxes for a place you may spend only a few months at.

Fractional ownership cuts down on the cost and everyone gets to enjoy a place that is more luxurious. Fractional ownership offers individuals the opportunity to buy partial ownership of a property in a resort area with resort style amenities including on-site fitness clubs, golf courses, etc.

Fractional ownership is the rapidly growing alternative to the high cost and financial obligation of whole or outright ownership, allowing owners to buy a luxury home for a fraction of the usual cost.

Fractional ownership makes the second home truly a vacation, as you can simply go there knowing everything is in order and organized. At the same time, you have the deed to the property, and you can pass it down through generations in your family, or resell it through a broker.

Property Price

$224,999 for each 6 week fractional share, includes Mission Hills Country Club Tennis/Dining/Fitness membership. Two or more shares purchased entitles an owner to a special golf membership offering at Mission Hills Country Club. Contact us for further information on this opportunity.

OR

You may also purchase all 8 fractions and own property outright for $1,349,999 unfurnished or $1,450,000 fully furnished. Includes Mission Hills Country Club Tennis/Dining/Fitness membership.