WHAT IS A FRACTIONAL OWNERSHIP OR FRACTIONAL INTEREST? WHAT IS INTERVAL OWNERSHIP OR INTERVAL INTEREST?
Fractional Ownership and Interval Ownership are the same thing, said two different ways. A fraction means a part of something, such as one-half, one-third or one-quarter. In real property projects, we usually divide the ownership into six pieces, each being a one-sixth interest. An interval is a period of time, such as a day, a week, a month or a year. In our real estate projects we usually use intervals of sixty days or more, approximately one-sixth of a year. Each fraction of one-sixth gets the use of sixty or sixty-one days every year (allowing a few days for maintenance and repair) reflecting that 365 days does not divide exactly into six equal intervals of a number of days.
