What is The Hemingways?
The Hemingways is a private, member-owned, residence club comprised of eight fully furnished four-bedroom residences, a grand clubhouse and a private pool facility all of which are managed by a premier management company designed and created specifically to provide five-star accommodations and services.
How is ownership at The Hemingways evidenced?
Each owner owns a one-ninth undivided, deeded interest in a residence and an undivided, deeded interest in the common areas. Title is evidenced by a fee simple deed, which is recorded and guaranteed by a title insurance policy.
How does fractional/shared ownership differ from Timeshare?
Timeshare is typically the ownership of a specific week or set of weeks and lodging is limited to a specific unit. Most timeshares do not offer deeded real estate ownership or the level of services and amenities available at a fractional/shared ownership club. The Hemingways owners enjoy unlimited access to all of the residences and club facilities based on the Reservation Procedures. Fractional ownership is designed as an alternative to second home ownership and is very similar to membership in an equity golf club or fractional/shared jet ownership.
What is the history of fractional/shared ownership?
While many families have shared vacation residences on a private basis for years, The Hemingways and other similar projects take the personal hassle out of the experience and add a full array of services and amenities. There are many examples of successful and highly acclaimed fractional ownership resorts in other ski areas, beach and golf locations. Some of these include the Austria Haus in Vail, Colorado, The Timbers Club near Aspen, Colorado and the Phillips Club in New York City. The concept makes a great deal of sense in that it allows individuals to enjoy the finest locations and hospitality without major initial capital outlay and without the stress and cost of maintenance and upkeep.
How often can owners use the club?
As often as they wish, based on availability and in accordance with the club's Reservation Procedures. Each owner can reserve up to four weeks of Planned Vacations which will include 14 days of prime winter season and 14 days of prime summer season. An additional seven days of Planned Vacation time can be booked each Ownership Year after all other vacations are confirmed. After all Planned Vacations are reserved in each respective season, owners can reserve additional time on a Space Available basis. There is no limit to the amount of owner usage and only 45 of the 52 weeks are slated for Planned Vacations.
When can owners begin to use the resort?
The resort was completed in September of 2004. The clubhouse, pool and heated paver driveway have all been finished as well and new owners can use their residences immediately!