Corporate Ownership is a practical alternative to wholly owned vacation homes where mortgage financing is not available or high prices make individual ownership impractical. This is not a "Time Share" form or ownership (where you actually own nothing). Conversely, it is a corporate interest in real estate that can be used personally or rented out for income purposes. In addition, ownership in the corporation can be sold to another shareholder... or an outside investor.
When purchasing property under a Corporate Ownership Plan, you purchase shares of a corporation formed specifically to own real estate. Typically, the number of shareholders is limited to four. If that is the case, each shareholder owns 25% of the corporation. In turn, each shareholder owns 25% of the real estate owned by that corporation. When done in this manner, each owner shares the use and expenses of owning that real estate. If the “Rules” of the corporate ownership plan allow rentals, each shareholder may also receive rental income during weeks allocated to that shareholder in the Corporate Ownership “Use Calendar”.
Corporate Ownership Enquiry Form