Skip to content
BOL Conferences
Thread Options
#2209622 - 03/26/19 11:07 PM Fractional Ownership vs. Timeshare
DZ Offline
New Poster
Joined: Jul 2014
Posts: 15
Loan officer received an application for a loan secured by a fractional ownership (1/4) that will be used as a secondary residence. My question is if this would be considered a timeshare? They would sign a warranty deed and title will transfer to them so they are able to sell their 1/4 share later. Not sure if they would be considered the same.

Return to Top
TRID - TILA/RESPA Integrated Disclosures Rule
#2209626 - 03/27/19 10:55 AM Re: Fractional Ownership vs. Timeshare DZ
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Sounds more like a divided interest in the property rather than a timeshare. Not too many banks would want to get involved in this sort of collateral. Too hard to liquidate.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2209791 - 03/28/19 04:53 PM Re: Fractional Ownership vs. Timeshare rlcarey
DZ Offline
New Poster
Joined: Jul 2014
Posts: 15
Thank you!

Return to Top