You can own the entire home or a fraction, the choice is yours. Below are some frequently asked questions about fractional ownership.

1. “What is fractional real estate ownership and how does it work?”
2. “Why would someone want to own fractional real estate?”
3. “Is fractional real estate Time Share?”
4. “I understand that I can buy a fraction of a whole home at North Big White. Does that mean I will sometimes have to share it with other owners?”
5. “If I own fractional real estate, how often can I use it?”
6. “Will I always stay in the specific home that I own an interest in?”
7. “How do I know when I can use my home at North Big White?”
8. “Who can stay in my North Big White home?”
9. “What about paying guest’s?”
10. “What costs are associated with North Big White fractional ownership?”
11. “Who pays for maintenance and repairs on my North Big White home?”
12. “Can I buy all four fractional and own the entire home?”
13. “Will I be able to trade time in my fraction for time elsewhere?”

1. “What is fractional real estate ownership and how does it work?”

Fractional real estate refers to the legal sharing of real estate among more than one owner. Each owner has their own freehold title which is derived by splitting the real estate title. The title can be sold, mortgaged or willed to heirs without affecting the other owners. Use of your property is governed by a special lease or other legal arrangement which is put in place and specifies which time each owner gets to use the real estate. The way by which the real estate will be managed and how costs will be shared is also specified.

Fractional real estate is a way for people to share ownership and use of a property. Most often the property comes fully furnished and is managed by a third party manager so that use and ownership is convenient and hassle free.

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2. “Why would someone want to own fractional real estate?”

Fractional real estate provides an alternative form of real estate ownership for someone who wants to own a vacation property but realizes they have limited time to make use of it and they like the idea of sharing the property so that they get the use they need and want, but at a fraction of the cost of owning the whole property. Aside from the cost, one of the other big benefits of owning fractional real estate is that it is taken care of for you by a third party manager. They make sure that it is perfect when you arrive to use it and they clean it up when you leave – hassle free.

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3. Is fractional real estate "Time Share?"

It is time-share in the sense that you are sharing the use of the property through defined times for access. It is different however, as you own a title to actual real estate which you can independently mortgage, sell or will to your heirs.

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4. “I understand that I can buy a fraction of a whole home at North at Big White. Does that mean I will sometimes have to share it with other owners?”

No. As a fractional interest owner, you will have exclusive use of your mountain home based on a rotation schedule. Call us for further details and we can explain the options available at North at Big White.

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5. “If I own fractional real estate, how often can I use it?”

The amount of use you would get depends on the fraction you own. For example, if you owned a quarter interest you would have usage for about three months a year and with your quarter share ownership at North at Big White your use of your mountain home will be structured under a two week rotation schedule. If you call us we can tell you about the specific use plans for North at Big White.

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6. “Will I always stay in the specific home that I own an interest in?”

Yes. As a fractional interest owner, you will have use of your own home according to your schedule of use, after you have made your booking.

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7. “How do I know when I can use my home at North at Big White?”

Each year your usage is ‘rotated’ equitably so that each of the four fractional owners can enjoy their home year round. It’s simply a question of choosing when you’d like to start using your home which we would be happy to explain to you in further detail.

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8. “Who can stay in my North at Big White home?”

As a fractional interest owner, you will have access to stay in your home along with family, friends, business associates, or anyone else you designate during your schedule of use.

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9. “What about paying guest’s?”

You have the option of renting out your home through a rental management company who will take care of all the rental details.

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10. “What costs are associated with North at Big White fractional ownership?”

In addition to the initial cost to purchase, you have a monthly management fee (strata fees). The monthly management fee is adjusted annually based on the actual budget prepared by the property manager and approved by the owners elected representatives. You pay for your share of fixed and variable costs which are outlined in the disclosure statement.

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11. “Who pays for maintenance and repairs on my North at Big White home”

Your monthly management fee covers the cost of all minor replacements and minor wear and tear. Owners or guests are responsible for substantial repairs if incurred during their use. Certified professionals from the specific equipment manufacturers and services maintain your home appliances to our demanding standards.

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12. “Can I buy all four fractional and own the entire home?”

Yes, some owners take advantage of our privileges for purchasing all four fractions and register titles in children’s names to assist estate planning.

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13. “Will I be able to trade time in my fraction for time elsewhere”

North at Big White has made arrangement for owners to be invited to be members of a vacation home exchange program which will provide home exchange opportunities throughout the world. In addition we have structured a unique exchange opportunity for those who are interested in yachting. You’ll need to call to ask us for all the details.

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