Questions

1. What is fractional ownership?
2. What are the benefits of fractional ownership?
3. Why should I buy a fractional interest instead of a wholly-owned second home?
4. How many shares will be sold?
5. Can I own more than one fractional interest?
6. What if I don’t know the other owners?
7. How are my five weeks of use chosen each year?
8. Are we allowed to rent our villa to others? Can family and friends stay?
9. Do guests have the same privileges as owners?
10. Can we exchange our weeks in other resorts if we do not want to stay at The Muskokan for 5 weeks per year?
11. Can we bring our family pet to our villa?
12. Is smoking allowed?
13. Is owner storage available at The Muskokan?

Answer

It is an exciting concept in resort home ownership, shared ownership more precisely. It can be compared with fractional jet ownership, where individuals or corporations match their aircraft purchase with their expected use patterns. This concept of purchasing only what you need, or will use, is perfect for second homes. At the Muskokan, you will indirectly own a 1/10 share of your villa, as well as a portion of the propertie's 42 acres, clubhouse and boathouse.

Fractional ownership relates to forms of shared ownership. It can take the form of "deeded" ownership or full equity membership ownership. The Muskokan offers full equity membership through Muskokan Resort Club Inc. ("MRCI”). The benefits of this form of ownership over "deeded" ownership are:

1. Limited liability to owners with respect to any insurance claims against the owners.
2. MRCI will be debt free. The entire project will not have any debts registered against it.
3. Owners cannot directly finance against the villas - providing protection against defaults and dealing with mortgages registered against your villa.
   

All of this, without any of the hassles normally associated with owing and maintaining a second home. The home is professionally managed and maintained by a hotel management company.