It's rumored that a large oceanfront project in Cape May will be offering Quarter Share ownership options when they begin outsales for their upcoming project.
This is essentially an expanded version of the typical Timeshare Interval Ownership already being offered in many areas. Apparently, Quarter Shares are new to this area, but are somewhat common in other areas of the country. Those who purchase these properties will have a deeded interest in their unit for 13 weeks of the year. These weeks may not necessarily be consecutive.
These owners may occupy their units for 2 weeks per year and still have the unit qualify as an investment property for tax purposes. This may seem especially appealing because the average unit might be a million dollars, but a 1/4 share will go for $250,000.
That would seem to be a good way to get into an area that has already priced the average person out of the equation. Stay tuned for more info...
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