FAQs - Frequently Asked Questions
Q. What is Fractional (or Shared) Ownership?
A. Fractional Ownership (also called Shared Ownership or Co-ownership) means exactly what it states and is straightforward in theory- two or more people sharing ownership of an item. In practice, there are certain complexities in sharing ownership of items. There are also many different forms of fractional ownership, such as timeshares, residence/destination clubs, FlexJets, etc. The “Sharing Economy” introduced additional forms of sharing, such as Airbnb, Zipcar, Steetbank, etc.
To us, Shared Ownership (or Fractional Ownership as we like to call it) is the concept in its purest form- two or more people sharing the ownership of an item. Sharing both the pleasure of owning the item, but also the costs and responsibilities.
Q. What is FractionAgent?
A. FractionAgent is a full-service co-ownership “agent.” Whether you wish to co-own a vacation property, RV, small plane, motorcycle, high performance sports car or any other valuable asset that is underutilized- FractionAgent will help you share the item with other like-minded individuals. We help in all aspects of the partnership arrangement, from overseeing the calendar and shared payments, to managing vendor relationships, providing insurance, and creating a legal structure.
FractionAgent is also a social network providing people a place to find items they would like to take a fractional ownership interest in. Additionally, our social network showcases opportunities for items to co-own and a way to meet potential co-owners.
FractionAgent provides a full spectrum of comprehensive services so you and your ownership partners can have confidence and peace of mind in your shared ownership arrangement.
Q. How does this great service work?
A. You begin by finding an item to share fractional ownership in and by finding your co-ownership partners. You can respond to an existing fractional ownership opportunity in FractionAgent’s “Find Something to Share” page, or post your own shared ownership opportunity on our “Find Co-owners” page.
Once you've found co-owners, contact FractionAgent to help decide what plan is right for you. Your FractionAgent “Agent” will help through all aspects of the process depending on the requirements of the group.
Q. How much does the FractionAgent service cost?
A. We have varying levels of plans, which can be considered depending on the cost, risk, and complexity of the co-owned item. Please see the Plans/Pricing Page for more information.
Q. The costs are very reasonable. But, why don’t I just manage the fractional ownership myself?
A. You certainly can, however having an agent manage the relationship makes a lot of sense for many people. It takes a lot of work to successfully co-own an item, especially when there are more than two owners. Often times it is left to one person in the ownership relationship to manage the bulk of the work. Take, for example the ownership of a vehicle that will be co-owned by three people. The vehicle needs to be registered, insured, maintained, etc. It also requires someone to keep a schedule so that owners are utilizing the vehicle their fair share and it is available when they want it. Then there is the process of collecting payments from each of the co-owners and paying the bills that are due. It can be a significant effort.
Utilizing FractionAgent’s proprietary cloud based service, FractionEase, together with support from our Company’s fractional ownership experts takes most of the work out of the process allowing you more time to enjoy your item.
Using FractionAgent also minimizes arguments and disagreements with your co-owners. Our Company helps co-owners professionalize the ownership arrangements. Also, we help friends remain friends.
Q. What official paperwork is required?
A. FractionAgent provides a customizable Co-ownership Agreement that is signed between the co-owners. It spells out all rights and responsibilities, the agreed upon split of the costs, the general schedule and much more.
Q. Who maintains all of the original ownership documents, like the title?
A. If requested, FractionAgent maintains all original ownership files in our secure file room in our headquarters. We maintain original titles, owner manuals, and other ownership documents as required.
Q. I would like to co-own an item, but I don’t know anyone to be my partner. How can I find co-owners?
A. FractionAgent can help. Simply post your item, or an item you would like to co-own, into our “Find Co-owners” section of our website. People browsing our website will be made aware of the opportunity as will people who have asked us to notify them of similar ownership opportunities. You can also share the post with acquaintances, or on your own social media networks, to generate additional interest.
Q. How do I know the potential co-owner I am going to meet is trustworthy?
A. FractionAgent offers background check services, including checks of criminal history, credit worthiness, lawsuits, previous address, etc.
Q. Aren’t there liability risks in sharing ownership of an item?
A. Yes there are, and that is one of the reason this concept hasn’t gained greater traction. FractionAgent helps our Fractional Ownership clients manage these risks by assisting in obtaining insurance and, in the case of real estate and other very high value items, instituting a legal structure around the item.
Q. What about financing options?
A. FractionAgent provides many options for asset financing. Our Finance Department can work individually with all shared ownership partners to find financing that works for them. We have partnerships with leading financing institutions.
Q. How does the insurance work?
A. FractionAgent has partnerships with leading insurance companies and has worked with them to tailor specific insurance policies for co-owned items, whether they be vacation homes, vehicles, boats, RVs, etc. We provide assistance in securing appropriate insurance coverage.
Q. How are ownership disagreements handled?
A. FractionAgent’s standard Co-ownership Contract covers many of the possible disagreements and “what-ifs” in fractional ownership, so disagreements are not very common. However, in the event of a disagreement between co-owners, we offer a detailed dispute resolution process.
Q. Can you tell me more about your web app FractionEase?
A. FractionEase is FractionAgent’s proprietary cloud-based web platform that seamlessly handles all scheduling, information sharing, payments, maintenance tracking, etc. of your shared ownership item. The service is available in all FractionAgent service plans and is the backbone of your successful shared ownership arrangement.
Specifically, FractionEase has the following features:
Q. I own a high performance sports car that I seldom use, but that costs me a lot to own. Is this a good type of item to consider for fractional ownership?
A. Yes, this is ideal item to be shared with a few people. It minimizes the cost of ownership while allowing each individual owner to maximize their enjoyment of the item.
Q. What other items make sense for co-ownership?
A. There are many classes of items that make sense for fractional ownership. Anything that is expensive to own and that is not used by the owner to their full capacity are excellent items for co-ownership. Examples of items that make a lot of sense for shared ownership are: vacation homes, pleasure boats, personal aircraft, small recreational vehicles, motor homes, campers, riding horses, season tickets to sporting events, etc.
Q. How about appreciating assets such as vintage sports cars, paintings, etc.?
A. Absolutely, our service can allow owners to invest in items like this. It is particularly good way to share investments with a view to future profit.
Q. What an awesome service FractionAgent provides. How is the company being accepted?
A. Great! FractionAgent is seeing consistent growth and our customers have been providing rave reviews. Our company is filling a required niche and is poised for tremendous growth.
A. Fractional Ownership (also called Shared Ownership or Co-ownership) means exactly what it states and is straightforward in theory- two or more people sharing ownership of an item. In practice, there are certain complexities in sharing ownership of items. There are also many different forms of fractional ownership, such as timeshares, residence/destination clubs, FlexJets, etc. The “Sharing Economy” introduced additional forms of sharing, such as Airbnb, Zipcar, Steetbank, etc.
To us, Shared Ownership (or Fractional Ownership as we like to call it) is the concept in its purest form- two or more people sharing the ownership of an item. Sharing both the pleasure of owning the item, but also the costs and responsibilities.
Q. What is FractionAgent?
A. FractionAgent is a full-service co-ownership “agent.” Whether you wish to co-own a vacation property, RV, small plane, motorcycle, high performance sports car or any other valuable asset that is underutilized- FractionAgent will help you share the item with other like-minded individuals. We help in all aspects of the partnership arrangement, from overseeing the calendar and shared payments, to managing vendor relationships, providing insurance, and creating a legal structure.
FractionAgent is also a social network providing people a place to find items they would like to take a fractional ownership interest in. Additionally, our social network showcases opportunities for items to co-own and a way to meet potential co-owners.
FractionAgent provides a full spectrum of comprehensive services so you and your ownership partners can have confidence and peace of mind in your shared ownership arrangement.
Q. How does this great service work?
A. You begin by finding an item to share fractional ownership in and by finding your co-ownership partners. You can respond to an existing fractional ownership opportunity in FractionAgent’s “Find Something to Share” page, or post your own shared ownership opportunity on our “Find Co-owners” page.
Once you've found co-owners, contact FractionAgent to help decide what plan is right for you. Your FractionAgent “Agent” will help through all aspects of the process depending on the requirements of the group.
Q. How much does the FractionAgent service cost?
A. We have varying levels of plans, which can be considered depending on the cost, risk, and complexity of the co-owned item. Please see the Plans/Pricing Page for more information.
Q. The costs are very reasonable. But, why don’t I just manage the fractional ownership myself?
A. You certainly can, however having an agent manage the relationship makes a lot of sense for many people. It takes a lot of work to successfully co-own an item, especially when there are more than two owners. Often times it is left to one person in the ownership relationship to manage the bulk of the work. Take, for example the ownership of a vehicle that will be co-owned by three people. The vehicle needs to be registered, insured, maintained, etc. It also requires someone to keep a schedule so that owners are utilizing the vehicle their fair share and it is available when they want it. Then there is the process of collecting payments from each of the co-owners and paying the bills that are due. It can be a significant effort.
Utilizing FractionAgent’s proprietary cloud based service, FractionEase, together with support from our Company’s fractional ownership experts takes most of the work out of the process allowing you more time to enjoy your item.
Using FractionAgent also minimizes arguments and disagreements with your co-owners. Our Company helps co-owners professionalize the ownership arrangements. Also, we help friends remain friends.
Q. What official paperwork is required?
A. FractionAgent provides a customizable Co-ownership Agreement that is signed between the co-owners. It spells out all rights and responsibilities, the agreed upon split of the costs, the general schedule and much more.
Q. Who maintains all of the original ownership documents, like the title?
A. If requested, FractionAgent maintains all original ownership files in our secure file room in our headquarters. We maintain original titles, owner manuals, and other ownership documents as required.
Q. I would like to co-own an item, but I don’t know anyone to be my partner. How can I find co-owners?
A. FractionAgent can help. Simply post your item, or an item you would like to co-own, into our “Find Co-owners” section of our website. People browsing our website will be made aware of the opportunity as will people who have asked us to notify them of similar ownership opportunities. You can also share the post with acquaintances, or on your own social media networks, to generate additional interest.
Q. How do I know the potential co-owner I am going to meet is trustworthy?
A. FractionAgent offers background check services, including checks of criminal history, credit worthiness, lawsuits, previous address, etc.
Q. Aren’t there liability risks in sharing ownership of an item?
A. Yes there are, and that is one of the reason this concept hasn’t gained greater traction. FractionAgent helps our Fractional Ownership clients manage these risks by assisting in obtaining insurance and, in the case of real estate and other very high value items, instituting a legal structure around the item.
Q. What about financing options?
A. FractionAgent provides many options for asset financing. Our Finance Department can work individually with all shared ownership partners to find financing that works for them. We have partnerships with leading financing institutions.
Q. How does the insurance work?
A. FractionAgent has partnerships with leading insurance companies and has worked with them to tailor specific insurance policies for co-owned items, whether they be vacation homes, vehicles, boats, RVs, etc. We provide assistance in securing appropriate insurance coverage.
Q. How are ownership disagreements handled?
A. FractionAgent’s standard Co-ownership Contract covers many of the possible disagreements and “what-ifs” in fractional ownership, so disagreements are not very common. However, in the event of a disagreement between co-owners, we offer a detailed dispute resolution process.
Q. Can you tell me more about your web app FractionEase?
A. FractionEase is FractionAgent’s proprietary cloud-based web platform that seamlessly handles all scheduling, information sharing, payments, maintenance tracking, etc. of your shared ownership item. The service is available in all FractionAgent service plans and is the backbone of your successful shared ownership arrangement.
Specifically, FractionEase has the following features:
- Calendar and Reservation System - FractionEase’s calendar and “smart” reservation system keeps track of the usage of your shared item. The system ensures fair usage between owners.
- Expense Tracking and Accounting – The system’s detailed expense tracking system provides up-to-the minute details of who owes who what, between ownership partners and what vendors are owed and how much.
- Electronic Document Database – Our system stores electronic copies of all pertinent documents, including owner’s manuals, maintenance documents, titles, registrations, etc.
- Vendor Management – Coordinate payments to vendors seamlessly and assess owners their pro-rata share automatically.
- To-Do List - Keep track of what needs to be done within your partnership and who's responsible for what.
- Maintenance Log – Notes are kept on maintenance of your shared ownership item.
- Much, much, more – Our engineers are continually improving FractionEase to provide added functionality in order to enhance your shared ownership experience.
Q. I own a high performance sports car that I seldom use, but that costs me a lot to own. Is this a good type of item to consider for fractional ownership?
A. Yes, this is ideal item to be shared with a few people. It minimizes the cost of ownership while allowing each individual owner to maximize their enjoyment of the item.
Q. What other items make sense for co-ownership?
A. There are many classes of items that make sense for fractional ownership. Anything that is expensive to own and that is not used by the owner to their full capacity are excellent items for co-ownership. Examples of items that make a lot of sense for shared ownership are: vacation homes, pleasure boats, personal aircraft, small recreational vehicles, motor homes, campers, riding horses, season tickets to sporting events, etc.
Q. How about appreciating assets such as vintage sports cars, paintings, etc.?
A. Absolutely, our service can allow owners to invest in items like this. It is particularly good way to share investments with a view to future profit.
Q. What an awesome service FractionAgent provides. How is the company being accepted?
A. Great! FractionAgent is seeing consistent growth and our customers have been providing rave reviews. Our company is filling a required niche and is poised for tremendous growth.