Fractional Ownership in Tahoe Donner -
Frequently Asked Questions
Several Fractional Ownership Opportunities in both Tahoe
Donner and Old
Greenwood:
- What are the benefits of being a fractional owner in Tahoe Donner?
Owners have a deeded real estate interest and experience all the joys
and rewards of owning a million dollar-plus vacation property. Like other
forms of real estate ownership, an owner's fee simple undivided deeded
interest can be sold or transferred by the owner, or sold by a licensed
real estate agent at any time. And, ownership is at a fraction of the
cost allowing many buyers to own a property far more desirable than they
would have been able to purchase as a single owner.
Additionally, owners have the ability to vacation in a growing collection
of luxury residences, located in the most desirable destinations, with
privileged access to top-of-the-line amenities.
And while at any of the properties, our owners are free from all the usual
hassles of ownership. From maintenance to reservations to transportation
assistance, Paradigm Resorts does all of the work so that our owners are
free to vacation.
- How is title held?
Title is held as an individual interest in Tenancy-in-Common. You receive
a grant deed to the property in fee simple title.
- What is the Tenancy-in-Common agreement?
This is the legal agreement between the Owners that describes all the
conditions of the joint ownership. The agreement incorporates the use
provisions and defines the rights and obligations of the owners.
- Can an ownership interest be held in a corporation, trust or
other legal entity?
Yes. The corporation, trust or other legal entity will identify one person
to be the "designated owner" who is responsible for vacation reservation
requests.
- Who has ownership privileges?
Ownership privileges extend to the spouse of the Owner, their children
and to direct family members (i.e. grandparents and grandchildren).
- How many owners are at each property?
The number of ownership interests will be pre-determined for each property.
Typically, the number of parties will be between four and eight.
- How often can I use my property?
There are three different ways owners can use their property. The reservation
system is designed so that owners can make multiple reservations well
in advance (Planned Vacations), additional vacation reservations using
unallocated time (Space Available Vacations) and last minute reservations
(Short Notice Vacations). In addition, if other owners are using the property
less, other owners can visit more often at no additional charge.
- How are reservations made?
Owners request their Planned Vacations reservations through online
reservations system and confirmations are made. The remaining vacation
time is then available for Space Available Vacations and Short Notice
Vacations reservations.
- When I sell, who sets the price and terms?
You do. You do not have to have any involvement of the other owners.
- Do I have access to resort-like amenities (spa, golf, fitness
centers, beach clubs, etc.)?
Spa, fitness, golf, ski, and/or beach amenities are available at nearly
every property. Where available, owners have privileges at golf, sporting
and beach clubs.
- Is storage available?
Long-term storage will typically be available for owners. Sporting equipment,
clothing, and other personal items can be securely stored at the property.
- Is this considered a timeshare?
No. Timesharing typically provides for a right of usage via a Lease that
extends out 29 or 31 years and then reverts back to the Developer. Timeshare
is characterized by owners leasing the right to use a specific unit for
a specific week.
In contrast, this is a real estate deed that is guaranteed by a Title
Insurance Policy. The Deed you receive is the same as if you bought any
other piece of property in the country and therefore affords you the ability
to sell it when you want, how you want and/or pass it on to your children
and future generations.
- How is an ownership interest different than membership in a
destination club?
Club memberships are not real estate interests. This is a deeded real
estate interest in a specific vacation property, which can be sold at
any time at the discretion of the owner and with the realtor of their
choice. Club memberships, on the other hand, typically place resigning
members on a waiting-list and resell the membership at a sizable guaranteed
loss.
- What happens if there is greater demand for a particular date
than availability?
There is a rotating priority system to resolve any conflicts when there
is more than one reservation request for a certain time period. This system
has been successfully used for many years to equitably confirm reservation
requests.
- What services are provided?
Owners are provided with pre-arrival grocery shopping service, housekeeping
services, and transportation assistance in addition to all property management
services.