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 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.

Examples of Fractional Ownership in a sentence

• The following words, when used in this Declaration, shall have the meanings designated below unless the context expressly requires otherwise, and certain additional words pertaining to the Plan of Fractional Ownership are defined in Section 22 of this Declaration: 2.1 “Allocated Interests” means the undivided interest in the Common Elements and the Common Expenses Liability and the votes in the Association allocated to each of the Units in the Resort.

• However, § 91.509, Survival Equipment For Overwater Operations, applies to flights more than 50 nautical miles beyond the shoreline because subpart F, Large and Turbine Powered Multiengine Airplanes and Fractional Ownership Program Aircraft, recognizes that special requirements are appropriate for larger airplanes that may not make sense for the entire general aviation community.

• The Association desires to protect the value and desirability of the Resort, to further a plan for the improvement of the condominium and Fractional Ownership of the Resort, to create a harmonious and attractive development and to promote and safeguard the health, comfort, safety, convenience, and welfare of the Owners of Units and Fractional Interests in the Resort.

• An Owner of a Fractional Ownership Estate at Rams Horn Village shall automatically become a member of the Association and be subject to these Bylaws.

• In the event that a member wished to upgrade their European Collection points to Fractional Ownership but had a points holding that didn’t equate to the points value of the Fractions that they wished to purchase, it was necessary for them to purchase additional Fractional points in order to bring their points holding to the requisite level.

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

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

Fractional Ownership means the fractional ownership of the Gold represented by ozt. tokens held by the Product Holder, which is subject to certain limitations, including but not limited to the following (the “Limitations”):

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 means fee title or other legal claim of right to possession or occupancy of any Lot or Living Unit by more than one entity, such as a partnership, limited liability company, limited liability partnership, corporation, or other business entity, or more than four persons who are not related by either blood or marriage. For the purpose of this section a married couple holding title to a fractional share as tenants by the entirety shall constitute one person.

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.