Category: fractional homeownership

Newport Beach Advances Ban on Fractional Homeownerships in Residential Areas

March 20, 2023
Californiafractional homeownershipNewport Beach City CouncilRegional & State NewsRegional NewsSouthern CaliforniaSouthern California OC NewsState NewsUS
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The Newport Beach City Council voted unanimously March 14 to draft an ordinance to classify fractional homeownerships as timeshares, which are currently banned in the city’s residential neighborhoods. Fractional homeownership occurs when multiple individuals purchase a property, usually as a second home, and split usage based on a percentage of ownership. They are different from…

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Fractional Homeownership: A Growing Trend in Newport Beach With No Regulation

January 13, 2022
fractional homeownershipLocal Newsnewport beachPacasoRegional NewsRegional-Local Newsshort-term rentalsSouthern CaliforniaUncategorizedUS
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NEWPORT BEACH, Calif.—Though complaints about short-term rentals in Newport Beach had led to more regulations, the city still doesn’t yet know how to deal with fractional homeownership—a new and growing trend where multiple individuals pool their money together to buy a shared home that each of them can use throughout the year. Many Newport Beach…

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