Fractional Ownership definition

Fractional Ownership or “Unit Sharing” means any arrangement (whether written or verbal) whereby multiple individuals, artificial entities, or other combinations acquire title to a Unit (or any other possessory or use right in a Unit) with the intention of allocating use rights among legal or beneficial owners, whether pursuant to verbal or written agreements, regarding the sharing of use and possession rights for a Unit.

Fractional Ownership means ownership of a Fractional Interest pursuant to the definitions set forth in Section 22.2 of this Declaration.

Fractional Ownership means the co-ownership between you, us and other KR Coin Co-Owners in undivided shares of a KR Coin;

Examples of Fractional Ownership in a sentence

• XXX recognized the opportunity and chose to evolve The ROG Model into a Global Fractional Ownership Platform so it could be licensed to developers.

• Each person/entity comprising Owner, as listed in the preamble to this Agreement, owns the fractional interest in the Property set forth below: Owner: Name 1 Name 2 Name 3 Name 4 Fractional Ownership: [ ]% [ ]% [ ]% [ ]% No Interference.

• Seller expressly reserves the right at any time prior to closing to replace the Subject Unit with another Fractional Ownership Unit in Residences at The Xxxxxx Xxxx containing the same number of bedrooms as the Subject Unit.

• Any Villa Units which are not currently committed to the Fractional Ownership Plan4 (currently 60) may be used, in accordance with applicable rules and regulations, by Villa Renaissance provided that Villa Renaissance shall clean and stock such Villa Units, or shall negotiate with and pay the VOA to do so at then existing rates as if Villa Renaissance was the owner of such Villas Units.

• No broker or salesperson and no employee or agent of Seller has any authority to make any agreements, representations, warranties or promises with respect to the Residences Project or the surrounding properties or the Subject Unit or the Fractional Ownership Plan described in the Declaration of Condominium, except as may be set forth in this Contract.

More Definitions of Fractional Ownership

Fractional Ownership means shared ownership of a property, entitlement to ownership rights of a property, entitlement to use of a property, or possession of a property through any of the following means:

Fractional Ownership means ownership of a single Dwelling Unit or property that is divided into separate shares and sold to and bought by multiple unrelated parties at different times and independently of the whole Dwelling Unit. Fractional Ownership does not include property purchased by parties as tenants in common at the same time but does include properties with ownership on a fractional basis that is marketed and sold by an entity whose business is to sell such shares on a fractional basis.

Fractional Ownership means the acquisition of a real right in a share of a given immovable property that is part of a tourist or property development, together with the moveable goods that it contains, as well as facilities and services related to the common areas of the development, subject to a fixed interval calendar laid down in the contract and in the regulations on usage and services.

Fractional Ownership. Means the ownership interest in a specific share of an accommodation located in a luxury project that offers personalized services, however evidenced or documented, along with the right to use and occupy periodically the accommodation and any facilities related thereto for a term or interval of more than three (3) weeks a year.

Fractional Ownership or “Home Sharing” means any arrangement (whether written or verbal) whereby multiple individuals, artificial entities, or other combinations acquire title to a Parcel (or any other possessory or use right in a Parcel) with the intention of allocating use rights among legal or beneficial owners, whether pursuant to verbal or written agreements, regarding the sharing of use and possession rights for a Parcel.

Fractional Ownership means, for the purpose of this by-law, a type of unit or building whose ownership is divided into shares. Individuals purchase one or more shares in the building or unit providing them with a fractional ownership in the structure and any related land. Share holders are responsible for ongoing maintenance costs and other costs related to the structure. For the purposes of this by-law these types of building, units and land are defined as residential uses;

Fractional Ownership or “Unit Sharing” means any arrangement (whether