If you can't commit to buying a wholly-owned golf vacation home that you'll only use for a limited time each year, but you still want the benefits of equity ownership, residence clubs are an alternative worth considering. Residence Clubs provide second home ownership opportunities to buyers at a fraction of whole ownership, hence, the term commonly used to describe these types of clubs - fractional ownership (usual fractions are 4-12 equity owners per property). Another type of equity ownership option for some Residence Clubs is when the Club, of which you are an owner, owns the luxury residences made available to the Club's members. Residence clubs provide golf vacationers with a luxury home environment concierge type services, ranging from tee times to food shopping, are taken care of by the club.
For more due diligence type information on Residence Clubs read the article Fractional Ownership Questions and Answers
- San Francisco Attorney D. Andrew Sirkin answers many questions you may have regarding the co-ownership of vacation homes. He is a recognized expert in co-ownership. He is an accredited instructor with the California Department of Real Estate, and frequently conducts co-ownership workshops for attorneys, real estate agents, corporations, and prospective home buyers.
