Co-Ownership 101

Research shows that vacation home owners use their properties 30 days or less each year. "Why pay hundreds of thousands of dollars to own a whole property that sits empty for eleven months of the year?"

A new way to own a vacation home at a fraction of the cost.

Co-Ownership is an arrangement where a group of individuals or families co-own and share use of a vacation home or condo. Sometimes these arrangements are organized by the users themselves, but more frequently they are set up by a property owner or developer who outfits the property, creates the legal structure and documents, then offers the fractional interests for sale. Contrary to what you might think, groups of complete strangers who come together through these packaged offerings are generally much more successful at co-owning and managing the shared property than groups of friends or family members.

Statistics show that most people only use their vacation home 17-30 days each year. Co-ownership is appealing because it allows people to own only the share of a vacation home that they will use, rather than the entire property.

Key Benefits: 

• When you close on your MainSail Purchase, you will own a 1/10th share of a townhome at a fraction of the cost of whole ownership.
• You will receive a general warranty deed for a 1/10th share in a specific townhome. 
• This deed is the same type of deed you have on your home. You can will your share to your heirs or resell through local realtors and the MLS system.
• In addition, you pay only 1/10th of the ongoing costs for taxes, insurance and utilities.
• MainSail’s co-ownership program allows you to invest at a level commensurate with the amount of time you will use of your vacation home.
• All MainSail properties are maintenance free as well, so you spend your vacation relaxing instead of doing vacation home chores. MainSail's high level of service includes maintenance, housekeeping and full-service concierge.