Fractional and Whole Ownership Options
Whole and Quarter-Share Ownership Options Available
| Units 1 & 2 | 3-Bedroom Lakeside Townhome |
Whole 52-weeks / years |
Quarter Share 13 weeks / year |
| Units 3 & 4 *to be constructed |
3-Bedroom Lakeside Townhome |
Whole 52-weeks / years |
Quarter Share 13 weeks / year |
Fractional Ownership vs. Timeshare
The first thing you need to know is the difference between purchasing a Fractional Ownership/Shared Ownership and a timeshare.
Fractional and Shared Ownership are often used interchangeably. Fractional ownership is a percentage share of an expensive asset. Shares are sold to individual owners. A fractional owner enjoys priorities and privileges, such as reduced rates, priority access on holidays and income sharing. Typically, a company manages the asset on behalf of the owners, who pay monthly/annual fees for the management plus variable (e.g. per-hour, per-day) use fees.
A timeshare is a form of ownership or right to the use of a property, or the term used to describe such properties. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time (typically one week, and almost always the same time every year) in which they may use the property. Units may be on a part-ownership or lease/"right to use" basis, in which the sharer holds no claim to ownership of the property.
Ownership at East Silent Resort
When you purchase a vacation home at East Silent Resort you are purchasing a deeded interest in a vacation home. This is a prime piece of Minnesota vacation real estate that you own, with all of the amenities of a luxury lake resort, without the responsibilities of maintenance, repair or upkeep.
Whole Ownership
Some owners prefer to purchase the whole unit for 52 weeks of use per year. This, of course, allows unlimited flexibility on when to use the vacation home personally, and when to rent their home for rental income. It's totally up to you to decide how to spend your time. Come and bring the family for a whole week. Or escape to Otter Tail Country for a day or two of personal time. Let a group of your friends use it. Donate one of your weeks to a charity auction. It's your time to do with as you please.
Fractional Ownership
Other owners prefer to purchase a vacation home fractionally (either ¼, ½, or ¾ of a vacation home). Just like whole ownership, your purchase entitles you to use the entire home - and all of the resort amenities. A quarter-share allows you one full week at least every month, all year long, for a total of 13 weeks. Thus, when you purchase your home, you receive exclusive use to a "basket" of 13 weeks each year. These designated weeks begin on Saturday afternoon and extend to the following Saturday morning. Your designated "basket of weeks" rotates on an annual basis. This gives every owner a chance to enjoy all of the major holidays and prime vacation weeks at least once during the four year cycle. If there is a time when you would like to stay in your home during an alternate week, we will try to arrange a trade with the other owners. If you are unable to use your home during one of your weeks, we will look for a renter at your request.
Your vacation home is also a unique real estate opportunity. One of the most attractive features is that these properties-with all the amenities, support services and resort accommodations-are available at a fraction of the cost of what it takes to build, furnish and maintain a new lake home. And the home is all yours for 13 weeks every year. You're purchasing more than the amount of time most families ever spend in a vacation rental - with the freedom and financial resources to travel elsewhere at other times.
