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Fractional Ownership: How to Live Like a Multi-Millionaire

Fractional Ownership allows you the utilization of the luxury items you want, when you want them -- without the headaches, expense and liability of full ownership. With fractional ownership, a luxurious asset (jet, yacht, vacation home, classic car, vineyard) is owned collectively with a group of other individuals.

Do you want a more sumptuous way of life - but do not have the million$ in ready money to finance it? You've worked hard and you've done well, but the corporate jet, the yacht and the $4 million beach home are not possible right now.

Fractional Ownership may be the solution to your dilemma! With fractional ownership, a high-priced asset (jet, yacht, vacation home, classic car) is owned in cooperation with several other people; each owns a percentage split of the asset and has defined rights and privileges pertaining to its utilization. A management company supplies the continuity and organization to permit share owners uncomplicated and predictable access to the asset.

This idea operates well with many categories of assets whose usage may be periodic. As an example, second homes are occupied by their owners 2 4 weeks per year on average. If you've been to a marina lately, you've most likely become aware that nearly all of the slips are occupied by boats i.e., they are not being used. Corporate jets remain idle until travel is required by the executives.

Fractional ownership gives you as the share owner reliable access to that luxurious asset you want or need but don't want to pay for 365 days a year. And, because you are part of a pool of owners, all maintenance, management, upkeep and repair costs, taxes and insurance are shared among the members of the group. The management company provides a schedule for owners' usage, and takes care of routine maintenance, accounting and repairs.

In short: you have what you want, when you want it -- without the headaches, expense and liability of full individual ownership.

Fractional ownership is being utilized more and more for ultra-luxury items. Many corporations offer fractional shares of corporate jets(flexjet.com, netjets.com); turboprop aircraft (avantair.com); and helicopters (heliflite.com, sikorskyshares.com).

Fractional ownership of luxury yachts -- both power and sail -- is common. Companies like monocleyachts.com, eusamarine.com, and seanetco.com offer fractional ownership of yachts on the East and West coasts, in the Caribbean and in the Mediterranean.

Classic automobiles such as the Lamborghini Murcielago, Lamborghini Gallardo, Rolls Royce Phantom, Bentley Continental GTC, Aston Martin Vanquish S, high-end Porsches and the Ferrari 360 Spider are obtainable through fractional ownership with various companies such as extremecarshare.com, curvyroad.com, and clubsportiva.com. Fractional shareowners in these clubs might choose a membership that lets them to alternate their possession of different cars in the fleet, rather than only being the owner of a fractional share of one classic car.

RVs are an additional category of luxury item that often sees only episodic use, so fractional ownership makes sense here too. Both coachshare.com and sharerv.com make fractional shares of Monaco luxury coaches available.

Racehorses have long been owned by syndicates - groups of owners who jointly own them to distribute the expense and risk. Associates of syndicates were often friends or business associates who knew each other and privately set up the syndicate. Now fractional ownership models are coming into play. In Britain, the 2005 Vodafone Derby winner made history in the racing world: Motivator, the winning horse, was not owned by a super-rich breeder or public figure, but by a syndicate of 230 individuals from the smart-moneyed classes.

The fractional ownership notion is being creatively expanded into a lot of areas. Wine Estate Capital Management makes fractional ownership of vineyards in France and South Africa available to interested buyers. Numerous art donors find it useful to make a contribution of a fractional share of their art to the museum of their preference, thus ensuring their continuing enjoyment of their collection for a portion of each year.

Luxury purses are now obtainable by fractional ownership, so if you choose to diversify your collection without buying them all, your dilemma is solved. Shouldercandy.com offers handbags by Chloe, Balenciaga, Louis Vuitton, Prada, Burberry, Marc Jacobs, Chanel and more.

The most common use of the fractional ownership model, however, is in the vacation home sector. Because of the growing attractiveness of fractional vacation home ownership and the additional complication of dealing with real propertyPsychology Articles, this theme will be the subject of a subsequent article.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


David Yarian, Ph.D. writes the blog Florida Fractional Ownership which covers the fractional vacation home market in Florida and around the world. His latest project on Florida's Emerald Coast, Abaco Rose, offers luxurious Old Florida charm, modern amenities, and a wonderful natural setting. Visit his environmental website.



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