Q: What is quarter share ownership?

Quarter share ownership gives you (the owner) a 25% undivided interest via a fee simple deed to the property. You receive a Special Warranty Deed backed by Title Insurance. It’s the same form of real estate ownership most commonly used in the country today!

Q: What is included?

The Property usually comes fully furnished and ready to use with everything from furniture, decorations, TV’s, VCR’s and linens to dishes, pots and pans right down to the corkscrew. Phone, cable, electric, heat and weekly professional cleaning are also included in the monthly homeowners’ fee.

Q: How is this different from a timeshare?

In a timeshare scheme, you are buying the right to use a unit (not necessarily the same unit) for a week or more per year. With quarter share ownership, you own 25% of a specific piece of real estate.

Q: How is Quartershare fee simple different from other fractional share programs?

You are receiving a fee simple special warranty deed with your name on the title as an owner. Some other plans offer a ‘share’ in a limited liability corporation (LLC) and the corporation owns the property. In other plans, you are buying a timeshare, just with 13 weeks instead of 1 week. Setting up a quarter share in these ways was easier for the Seller, but you don’t own the real estate. With Quartershare, you are buying real estate, not stock in a corporation or the right to use someone else’s property for 13 weeks. Quartershares are a real estate sale – not a ‘time-share’ program.

Q: What are the advantages of quarter share ownership?

Most people that own a vacation property don’t use it every week, so it sits empty. By purchasing a quarter-share, you only buy the part of the vacation property that you are going to use. Furthermore, a quarter-share can appreciate, like real estate. Note that real estate is an investment with risk and appreciation is not guaranteed!

Q: When do weeks begin?

Quartershare usually have a special arrival /departure day (Mondays) to help owners avoid traffic on Friday and Sunday evenings. Owners have the option of arriving anytime during the week at their convenience and stay until the following Monday.

Q: What if I don’t know the other Owners?

Few people know the other owners before they purchase. The ownership structure eliminates the need. There are rules, bylaws and management services which keep the property in smooth running order. Any contact between Owners that is necessary will be facilitated through a designated Managing Agent (or Property Manager). There is no overlap in the calendar dates and there is no need to interact socially with the other owners. However, there usually is an annual meeting.

Q: Is there financing available?

As with any real estate purchase, there are different financing options available. Quarter share ownership is just like owning any other kind of real estate, financing through a first mortgage secured by your specific quarter interest is available competitively in selected mortgage markets. Other financing options include cash and home equity loans. We have a list of Lenders that can assist you.

Q: Who pays the bills and collects the expenses?

A professional Management Company will (normally) handle all the administrative duties of unit bill paying, all accounting summary reports including bills paid and escrow balances. Each owner pays one-fourth of the estimated monthly expense to the management company who then manages the accounting.

Q: What about selling a quarter share of the unit?

Owners can sell their specific undivided deeded interest at any time just like any other form of real estate. Each Quarter Share Owner will own fee simple title of their quarter interest. There are speciality brokers who can assist you with the resale of your unit; however, any licensed real estate Broker may help you sell your property.

Q: What are the estimated monthly expenses?

Each property has a complete breakdown of the estimated cost and monthly costs will vary by property. Some typical costs are: snow removal, gas, electric, common area maintenance, water/sewer, property taxes, cable or satellite, phone, insurance and professional management. The Managing Agent will usually pass all costs directly to the four owners without markup. Costs are split equally (25% to each owner) among the four owners.

Q: How do I pay my dues and when?

The management company will invoice you monthly for all the operating cost of ownership. You’ll be provided with one convenient, itemized statement so you only have to write one check.

Q: What are the check-in and check-out procedures?

As a Quarter Share owner, you usually receive an electronic key in the mail to the home one week prior to your arrival date. Your key will be activated the arrival date at 4:00 p.m. and will continue until the Monday of the check out date at 10:00 a.m. This system provides ultimate flexibility – there is no front desk or arrival time - arrive and depart at your convenience!

Q: Who does the cleaning?

The Management Company provides professional cleanings and sanitation for the owners. If you will not use your week, you can notify the Managing Agent and avoid the cleaning cost. Anyone who occupies the home is required to use the designated cleaning service (you can’t clean it yourself) so that everyone is assured a clean, sanitized home when they arrive. The key to the beginning of a great week in the mountains is a clean fully equipped home as your base of operations!

Q: Is smoking permitted in the units or hotel?

NO, smoking is strictly prohibited.

Q: Can my pet stay with us?

NO…Everyone loves pets but many individuals are allergic to them. Pets of any kind are not permitted within the property.

Q: Once I own my property, can I swap dates with another owner or rent if space is available?

Absolutely, swapping dates and combining weeks can be done at the discretion of the owners. A password protected internet site is usually available to Owners to view the use calendar and request a swap. The Managing Agent will coordinate all correspondence between Owners and facilitate any trades. Of course, quarter share ownership is based on maximizing use, therefore the possibility of a trade is based upon availability.

Q: How do Owners trade their unit?

Owners may be interested in trading one of their owned weeks with an exchange company. The way this works is, the Owner gives full usage of one of their owned weeks to the exchange company. In return, the exchange company lets the Owner go to a resort for a week somewhere else in the world. Keep in mind that the week used does not have to be the same time period as the week you are giving. For a complete explanation of trading for other properties, contact the designated Managing Agent

Q: Can I rent out my unit?

Absolutely, Owners can use the designated Management Company for rentals or rent it out themselves. By renting out a unit during prime holiday weeks, many of the annual operating expenses can be recovered.

Q: What happens when things break?

The Ownership group has a reserve fund for major repairs and replacement based upon normal wear and tear, accidents can happen and it is the responsibility of the Owner in residency to notify the Managing Agent of any breakage. The Managing Agent will make the necessary repair or replacements then invoice the responsible Owner.

Q: Are basic home supplies provided?

Yes, convenience and ease of use are of the utmost importance. The Managing Agent usually stocks basic supplies such as salt/pepper, paper supplies, soap, cleaning fluids, and extra linen.

Owners are free to purchase and leave any non perishable items however any food or drink left in the home (outside your personal storage unit) will be removed before the next occupancy.