ownership is essentially partial
ownership of a property. With
ownership, a property is owned and shared by at least
two, and often several, individuals. This type of
ownership is popular corporate jet airplanes and
now high end RACE CARS
ownership, consider a large, and expensive, Jet or
Race Car that may be difficult to purchase and care for on your own.
Instead of becoming the sole owner of the property, you purchase a
share of it, as do 2 other people. Now, you own 1/3 of the property
and have others to share in the burden of maintenance and prep.
Though this option is popular with Private jets, it may now be used
with smaller, lower cost Race Cars as well.
Often, people confuse
ownership with timeshares. Both
ownership and timeshare situations are common with
vacation and resort-type properties. With a timeshare, however, you
would purchase a specific amount of time to spend at the property,
such as 3 weeks out of every year. You would not actually own any
portion of the property. With
ownership, you would actually own the portion of the
property you purchase.
When you opt for
ownership in a race car, there will be sharing
involved. For example, if you purchase a share in a property with
fractional owners, you may race together at an
Endurance Event .