I have a very simple definition of Fractional Real Estate. It is fully owning a home, for part of the time, for a fraction of the costs.

You are sharing in the cost for purchase, splitting the taxes, insurance, and maintenance and management fees. You are legally tenants in common and although there is a bit of additional paperwork involved, the procedure is amazingly simple.

One of the best scenarios was a good friend of mine, Lucy Cade, who had a gorgeous canal-front home here in the Florida Keys. With the increase in taxes and insurance, she was unable to afford the upkeep of the home which had been in her family for many years. She advertised and listed the home for 6 months with a realtor, but in this extremely soft market - no takers.