WebMar 20, 2024 · 0:00 0:00. 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 ... WebMar 30, 2024 · In Beverly Hills, planning commissioners this month expressed support for an ordinance that would prohibit fractional ownership in the city. In Newport Beach, the City Council devoted a March 14 hearing to the issue, debating whether to expand an existing ordinance that prohibits timeshares in residential zones to also encompass fractional ...
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WebNewport Beach battles a new breed of luxury party houses: fractional ownership. Now, residents have set their sights on a burgeoning real estate trend known as fractional home ownership, in which multiple people, often strangers, own a small share of a luxury single-family home that they use as a vacation property. WebJul 25, 2024 · Fractional financing is available with as little as 10% down, up to an $850,000 loan amount for an owner-occupied mortgage, said Henry Jeanes, assistant vice president of Sterling Bank. Fractional ... economy lot e burbank airport
Newport Beach City Council discusses fractional home ownership
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