Frequently Asked Questions
What is the Cape Codder Residence Club?The Cape Codder Residence Club is a fractional ownership residence club which, upon completion, will consist of fifteen (15) spacious and luxuriously-appointed two (2) and three (3) bedroom residences, a destination spa, an indoor water park, heated outdoor pool, shuttle service to local beaches and attractions, and access to a wealth of Cape Codder Resort & Spa amenities and services. The Club is located on beautiful Cape Cod within Cape Codder Resort & Spa, a hotel located in the Town of Barnstable, Massachusetts, winner of the 2007 All-America City award, the oldest and most prestigious civic recognition competition in the United States. How does it work?As an owner in the Cape Codder Residence Club, you will own a fractional interest in a specific residence in the Club. You will receive a deed to your fractional interest, similar to the deed that you may hold to your primary residence or vacation home. There is no cross liability between you and the other owners, and you are free to sell, will, or gift your fractional interest as you choose. The Cape Codder Residence Club is currently the only fractional ownership program offered on the Cape. However, similar programs are located in resort locations throughout the United States and in many foreign countries. Numerous hotel companies offer fractional ownership programs, including Four Seasons, Ritz Carlton, St. Regis, Hilton, and Hyatt. No other real estate opportunity offers the convenience of the Cape Cod location combined with the outstanding services and amenities of the Cape Codder Resort & Spa. The boom in the sales of fractional private jets and fractional motor yachts is the result of successful people discovering that they can own and enjoy luxury assets without the enormous capital required for full ownership purchases. Ownership in the Cape Codder Residence Club offers you the ability to own an interest in and enjoy a luxurious residence, exquisitely furnished and decorated and managed by the renowned Cape Codder Resort, at a fraction of the full ownership cost. Use of the Club is open to owners, their families, designated guests, and tenants, subject to the Club’s rules and regulations. Are there other fractional ownership Residence Clubs at prestigious resort locations?Yes. Fractional ownership residence clubs are the fastest-growing segment of the luxury vacation ownership industry. Affluent buyers have enthusiastically embraced the fractional ownership concept, purchasing interests at fractional ownership residence clubs located in premier destinations such as Aspen, Vail, Telluride, mid-town Manhattan, Scottsdale, Cabo San Lucas, St. Barts, and Napa Valley. What are the primary advantages of ownership at the Cape Codder Residence Club?
Abundant and Flexible Usage Value Will I always stay in the same Club Residence?No. To provide more availability and flexibility, owners have equal access to all residences of the residence type purchased. Residences are similarly furnished and feature spacious floor plans, luxury appointments, and impeccable detailing. Owners may request a specific residence, which request will be granted if possible, subject to availability and the Club’s reservation procedures. What kinds of guest privileges are included in Ownership?Owners may invite guests on an accompanied or unaccompanied basis subject to the Club’s rules and regulations. Can Owners leave their personal belongings at the Club?Yes. The Club provides secure, on-site storage bins for owners to leave their personal items. When will construction of the Club commence?Most residence construction is complete with the exception of three shares which will be completed with the construction of the Spa building. Construction of the heated outdoor pool is now completed. Final phases of construction (indoor water park and spa building) are scheduled for completion in the future. Events beyond the reasonable control of the developer could result in a later completion date. Who manages the day-to-day operations of the Club?The day-to-day operations of the Club will be managed by the Cape Codder Resort, which is a part of the Catania Hospitality Group - the same people you have come to know and trust at the Cape Codder Resort & Spa. The Catania Family has been providing hospitality services to Cape Cod visitors for over 35 years. Who controls the affairs of the Club?The Cape Codder Residence Club Owners’ Association controls the affairs of the Club. The affairs of the association, including the approval of the annual Club operating budget, will be governed by a Board of Managers. Each owner in the Club will be a member of the association. The Club’s documents more particularly describe the voting rights associated with membership in the association. What is provided in exchange for payment of annual assessments?The assessments cover the typical costs of maintenance, professional management, and operation of the Club’s residences, facilities, and amenities. These assessments provide funds for staff salaries, supplies, interior maintenance, exterior maintenance, landscaping, window washing, trash removal, legal and accounting fees, fuel, utilities, insurance, cable TV, telephone service, internet service, and a reserve fund for future replacements of Club furniture and finishes. Each owner will be responsible for paying his or her share of the Club’s annual expenses, regardless of his or her actual use of a residence each use year. Can a corporation, partnership, TRUST, or limited liability company own a fractional interest?Yes. A corporation, partnership, trust, or limited liability company can own a fractional interest in a residence. Each legal entity that owns a fractional interest must designate a principal contact who is authorized to make reservations, receive confirmations thereof, and otherwise deal with the Club’s manager in connection with the fractional interest in question and will have all the rights and privileges of ownership.
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