Fractional real estate, wherein an investor purchases a share of a fully furnished apartment, townhouse or detached house, has been a minor hit at Western Canadian resorts since the concept was introduced five years ago. The main attractions for buyers are price, a share in potential appreciation and convenience. Fractional real estate provides both a legal and use structure that makes sharing a property easy. For example, in a quarter ownership, there are four owners. Each owner would get his or her own title just for his or her legal quarter interest. They can put a mortgage on it, pay their mortgage off, or sell without having to deal with other owners. There are a number of different programs, but the bottom line is that there is a plan so that each of the owners has absolute certainty about when they can use the home. A third-party manager is employed to maintain the property, and all the owners contribute equally to the cost of maintenance, management, a fund for future...
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