What is half-share ownership?
Why was the half-share concept developed?
What are the advantages of half-share ownership?
How is this different from a timeshare?
How do I know if I am a good candidate for half-share ownership?
Do I have to find a co-owner for my property?
What is the Buyer Match Plan and how does it work?
How will I know if the co-owner is right for me?
What is the Tenants-in-Common (TIC) agreement?
What is covered in the TIC agreement?
Is the Halfshare TIC agreement available for purchase?
How much time will I be able to use at my property?
What if things don't work out with my co-owner?
What if my co-owner defaults on their payments?
Can we rent our property out when we are not using it?
Who will take care of the property when we are not there?
How do I find the right property?
Will my property go up in value?
What is the tax law governing half-share ownership?
Can I purchase a half-share property as a 1031 Exchange?
How do I finance a half-share purchase?
Can I take my existing home and sell half of it?
What is half-share ownership? Back to Top ^
Half-share ownership is owning a luxurious vacation property with another party. By co-owning or sharing your property, you not only split costs,
you are also able to develop a relationship with your co-owner and thus have more control over how your property is used and cared for.
Why was the half-share concept developed? Back to Top ^
Halfshare ownership was created to meet the growing demand for shared ownership vacation properties while giving owners more control over just
how their properties are used. Until half-share, fractional ownership - or owning anywhere from a 1/4 to 1/8 interest in a large condo property
that is then rented out as a hotel - was the only avenue available for shared ownership. The drawbacks of owning a "hotel" property gave rise to
the half-share phenomenon, which personalizes and protects ownership in a way fractional ownership cannot.
What are the advantages of half-share ownership? Back to Top ^
By co-owning your vacation property, you are able to share the costs associated with owning and managing your home. You also have the opportunity to
buy something more discerning and in a more desirable locale. In addition, all halfshare.com properties are fully furnished, with full-service
management services available to take care of them while you're away, and they offer the ability to generate rental income if you so choose.
How is this different from a timeshare? Back to Top ^
In traditional timeshare developments, a buyer purchases time without ownership - a specific week or weeks - and lodging could be in many different units.
When you half-share, owners purchase a deeded interest in real estate which can be sold, transferred or exchanged. If property values increase you can
make money if you own the property - or a piece of it.
How do I know if I am a good candidate for half-share ownership? Back to Top ^
If, like most people, you couldn't possibly use your vacation property year-round and you hate the thought of letting it sit vacant when someone could
be enjoying its benefits and you're thrilled with the idea of cutting your costs in half by sharing it with a like-minded co-owner who also shares your dream,
then half-share is the purchase plan for you.
Do I have to find a co-owner for my property? Back to Top ^
No. Halfshare.com offers its exclusive Buyer Match Plan, a database of interested buyers like you looking for just the right co-owner to share in the
purchase of their property. Halfshare.com will match you up with suitable buyers who meet your profile in terms of desired locale, price range, tastes,
interests, hobbies and lifestyles for your mutual consideration.
What is the Buyer Match Plan and how does it work? Back to Top ^
Halfshare.com's Buyer Match Plan was designed to help interested buyers locate their ideal co-owner. Halfshare.com clients complete a Client Profile
Survey to determine the characteristics of their ideal co-owner - desired locale, price range, tastes, interests, lifestyles. That information is
then entered into Halfshare.com's extensive database of other interested buyers. Attributes are then cross-matched and clients are presented with a
listing of potential co-owners considered a "good fit". Clients can then proceed strictly "on paper" toward their purchase, or can agree to contact
their potential co-owners to further determine suitability.
How will I know if the co-owner is right for me? Back to Top ^
Halfshare.com's Client Profile Survey uncovers property and personal goals, among other factors, to help halfshare.com make successful matches. Interested
buyers can then "interview" potential co-owners - either online, by phone, or in person as each party agrees. Ultimately, you decide who offers the best fit.
What is the Tenants-in-Common (TIC) agreement? Back to Top ^
Halfshare.com leaves nothing to guesswork when it comes to your vacation home. The Tenants-in-Common agreement is a legal document that formalizes all legal
concerns regarding rights and responsibilities of each co-owner. The TIC is created and approved before purchase and covers everything from seasonal time
sharing requirements and possible rental revenues to re-sale, property maintenance and repair and more.
What is covered in the TIC agreement? Back to Top ^
These are just a few of the items covered in our TIC: purpose of ownership, management arrangements, bank accounts used, payment of expenses, transfer of
interests, right of first refusal when selling, and scheduling rules.
Is the Halfshare TIC agreement available for purchase? Back to Top ^
Yes. Our 14 page TIC agreement is available for $5,000. This fee also includes a visit from Halfshare consultant to your project, in the lower 48 states, to get your
Brokers, salespeople, etc. up to speed on this concept.
How much time will I be able to use at my property? Back to Top ^
This is established up front in the Tenants-in-Common agreement. Ultimately, it's up to each co-owner to determine scheduling.
What if things don't work out with my co-owner? Back to Top ^
The Tenants-in-Common agreement gives each owner the first right of refusal if one of the owners wants to sell. Options include selling your half-share
to the other owner, putting it on the open real estate market through a local REALTOR®, or using halfshare.com's marketing expertise to sell your
half interest in the property.
What if my co-owner defaults on their payments? Back to Top ^
The Tenants-in-Common agreement provides details and assurances on default issues.
Can we rent our property out when we are not using it? Back to Top ^
Yes, if both parties have previously agreed to it in the Tenants-in-Common agreement and the location of the property is zoned for rentals. Halfshare.com will
help you find a property management company or give you the tools for a For-Rent-by-Owner scenario.
Who will take care of the property when we are not there? Back to Top ^
If a professional property management company manages the property, they will take care of the property in your absence. If not, there are usually
caretaker services in resort towns that can be hired to look after your property. Halfshare.com will help you locate those services.
How do I find the right property? Back to Top ^
Halfshare.com has its finger on the pulse of the luxury vacation home market, continually scouting the U.S., Canada and Europe for those one-of-a-kind,
hard-to-find, signature properties that have made halfshare.com one of the most sought-after sources for luxury second homes. Based on the criteria
collected from the Client Profile Survey, halfshare will access its extensive network of properties and licensed real estate brokers to uncover the
vacation property that is just right for you.
Will my property go up in value? Back to Top ^
The vacation home market has been appreciating at a good rate. But as with any market, it can go up and down. Halfshare.com will gather information
on each property so that each buyer can make an informed decision. Halfshare.com is especially adept at locating properties in up and coming areas
that offer the greatest potential for return on investment.
What is the tax law governing half-share ownership? Back to Top ^
The tax laws are the same that govern any real estate purchase. You will need to check with your accountant to determine the advantages of using your
purchase as a second home or as an investment property.
Can I purchase a half-share property as a 1031 Exchange? Back to Top ^
Yes. Tenants-in-Common properties are often used in 1031 Exchanges. With this type of property, you can enjoy your exchange as long as you follow the
rules established by the government on investment property.
How do I finance a half-share purchase? Back to Top ^
The best way to finance your purchase is with a home equity loan against your primary residence. Halfshare.com can discuss other ways to own with you
to help determine the best means of financing your property.
Can I take my existing home and sell half of it? Back to Top ^
Absolutely. Properties have been appreciating at a rapid rate in many resort communities, making selling off a half-share portion especially lucrative.
Selling half of your property still allows you to use it while eliminating some of the costs associated with full ownership. Halfshare.com can help you
locate a buyer through its Buyer Match Plan and can assist in putting together a winning marketing plan.
