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.

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

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

Examples of Fractional Ownership in a sentence

Availability of the Premises for timely Equipment installation and subsequent FAA qualification is critical to the sale of the Fractional Ownership Shares.
TDI shall cause the Fractional Ownership Agreements to provide that the Equipment may be sold as provided herein.
On an annual basis, the designated ski pass users will be identified by the owner of the Fractional Ownership Interval.
Nothing in this Agreement shall ▇▇▇▇▇▇ or prejudice the Council or the County Council’s statutory rights, powers, discretions and responsibilities (save where legally or equitably permitted) under all statutes by-laws statutory instruments orders and regulations in the exercise of their functions as a local authority.
Borrower agrees to established the Condominium Release Payment Account prior to the first date on which the Agent is required to release any Unit, Fractional Ownership Interest or Facility from the lien of the Mortgage pursuant to Section 14.4 or 14.5, as applicable.

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 “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 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 a Residential Unit which is owned by a limited liability company, corporation, partnership, or other joint ownership structure in which unrelated persons or entities sell, purchase or otherwise for consideration create or acquire any divided property interest including co-ownership or fractional or divided estates, shares, or membership which are subject to, or subsequently bound by any agreement limiting interest holders’ or their designees’ right or functional ability to occupy or use the property to their respective interests or any other agreement which limits interest holders’ or their designees’ use of the Residential Unit to fractional reservations through stay limitations of any duration. This definition shall not include non- commercial family, partnerships, associations, or trusts with divided interests or agreements in which the real estate is held and transferred within the family, partnership, association, or trust as opposed to sold on the free market for commercial purposes.

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, 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;