We are pleased that you have inquired about the Casa Del Sol fractional ownership home that is
now selling in beautiful San Felipe Mexico. This luxurious home in Club Cortez has
all the amenities that you could dream of.
It is important to remember that this is not a time share, but an equity share. This custom
built beachfront home comes fully furnished all the way down to the plates and the
silverware. The furnishings and decor are done professionally adding an amazing
level of sophistication and elegance to the home. Without a doubt this is one of
the most spectacular homes in all of San Felipe. Each 1/8 equity share owner is entitled
to the home 6 weeks a year, once every 8 weeks. These weeks can be swapped with other
owners (and that takes place all the time), or rented out.
Please read these frequently asked questions to gain more insight:
Who owns the Real Estate for the home In Mexico?
The company (an Arizona based LLC) is located in the United States and is
the deeded beneficiary of a trust (a Fideicomiso) inscribed in the Public Registry of
Mexico. It is a stronger document than a Mexican title since it is not subject to
embargo or confiscation. You are a member of the company that is the deeded beneficiary
of the trust on the home. The trust is good for 50 years at a time renewable
indefinitely.
Who pays the fees to the trust?
The fees are paid on behalf of the
owners and are covered in your monthly maintenance fees.
Do I own a deed to the home?
No. What you own is 1/8 of a company (LLC) that owns the home. Your
ownership in the company (LLC) allows you to enjoy time in the home each year.
Who maintains the home and pays the bills?
A property management company that is employed by the company that owns the home.
How do you determine the members' weeks?
Weeks are on a fixed automatically rotating schedule. Each owner will
get 6 weeks a year and then your interval shifts one week forward so that you get a new set
of weeks for the new year. After 8 years you will have experienced all weeks of the
year. This allows each owner to experience some of the most desirable weeks such as
Christmas, New Years, 4th of July, Thanksgiving, etc.
The rotation schedule shows the owner when they have full/exclusive use of the home. But
the owners of this home trade their weeks freely and allows about any owner to use the house
when it suites them. This is a remarkable benefit to being part of owning Casa del Sol.
This sounds like a timeshare, is it?
Fractional ownership takes the best aspects of timeshare (ease of
ownership and vacation exchange) and combines them with the best aspects of traditional second
home ownership (legally-deeded property).
What is the down side to a fractional ownership vacation home?
One downside for some is that there are no pets allowed. Another is
that no smoking is allowed inside the home (outside on the decks is
OK). This allows us to maintain the home in a pristine condition from one week to
the next, year after year. The owners view this as an advantage to the group as a whole.
Can I rent my weeks and trade weeks with another owner?
Yes. Even the property management company for the home will be able to
help you with renting your week. You may also trade your weeks with another owner and
it does not affect your rotation of assigned weeks.
What expenses are covered by my quarterly fees?
Property taxes, utilities, insurance, HOA dues, property management fees,
managing member fees, maintenance fund reserves, and several other expenses outlined in the
quarterly fee schedule.
What happens if I want to sell it?
A membership interest in the company may be put up for sale at any
time.
What happens if one of the owners of the unit damages it?
Totally hassle-free ownership.... because there is weekly cleaning services
and at this time, full stock taking and inspection takes place. The management service fixes
the problem and bills the owner for the repairs. If anything is missing or damaged they
will repair or replace immediately.