Deeded Ownership
Introduction
Deeded ownership records your interest in real estate via a deed, granting rights to use, transfer, bequeath, and treat the property as an asset.
For vacationers who return to the same destination every year, deeded ownership aligns their lifestyle with their financial goals. Deeded ownership provides a guaranteed vacation week along with the stability and rights of real estate.
Deeded ownership differs from Right-To-Use timeshare contracts, which expire after a term and do not grant a recorded real estate interest. Key differences include title, transferability, and potential for equity preservation. In popular, supply-constrained locations, deeded interests tend to retain value better than in oversupplied markets
The Harborside Inn: Waterfront Convenience in Edgartown, MA
The Harborside Inn is located in a prime location nestled along Edgartown Harbor. It blends the charm of a classic New England Inn with the modern comforts of a hotel, and it’s positioned in the heart of the town’s most photographed streetscapes.
Seasonality
- The Harborside Inn operates seasonally for 30 weeks based on the timeshare calendar.
The season starts mid-April and ends mid-November (weeks 15-44 per the interval
calendar). Certain units have stays from Saturday to Saturday, whereas others operate from Sunday to Sunday. - In the vacation setting at The Harborside Inn, deeded ownership is structured as a “fixed-fixed” interval ownership, a designated week in a designated unit each year.
Deeded fixed interval (week based) ownership:
- Buyers purchase a specific week in a specific unit. The deed is recorded with the Dukes County Registry of Deeds.
- Fixed usage: The intervals are fixed to a specific calendar week each year.
- Unit types: availability and categories are based on current inventory. All are one-bedroom units in various locations, with many offering waterfront patios and balconies, while others are situated along South Water Street and Main Street.
The Acquisition Process:
- Closing Documents
- The closing documents, including the purchase and sale agreement, will outline your unit interval, beneficial interest percentage, and related rights.
- The deed will be recorded in Dukes County with appliable recording fees and closing costs.
- A clear title shall accompany your purchase.
How Deeded Ownership Works at the Harborside Inn
- Use and enjoyment
- The right to occupy your unit for your deeded period, with access to the Inn’s amenities consistent with owner and guest policies.
- Rental and exchange options
- You may elect to rent your week if you can’t use it. The Harborside Inn offers an on-site rental program in accordance with applicable rules and regulations.
- Exchange opportunities through a timeshare exchange company are available, allowing you to trade your week for stays at other locations. Affiliation with worldwide timeshare exchange platforms like Resort Condominium International (RCI) and Interval International.
- Transferability and inheritance
- Deeded interests can typically be sold, gifted, or bequeathed, subject to any Harborside Inn Condominium Trust’s requisite provisions.
- Governance participation
- Owners vote on Condominium Trust matters, e.g. annual trustee elections. Participation helps shape regulations and priorities.
- Annual maintenance fees
- Due by January 15th. Paid to the condominium trust, covering all operating costs, e.g., utilities, insurance, staffing, maintenance, and reserves.
- Fees vary by beneficial interest. The average maintenance fee per unit interval is $1,225 per unit interval ($175 per night) for a 7-night stay.
- Special assessments
- Occasionally levied for e.g. reserve funding, large capital improvements.
- Compliance with rules and regulations
- Occupancy limits, check-in/check-out protocols, smoking and pet policies, parking procedures, and quiet hours.
- Taxes and insurance
-
- Property taxes are included in the annual maintenance fee. The condominium trust carries all applicable insurance.
-
- Ferry and travel logistics
- Peak weeks require planning ahead for ferry reservations. Ownership guarantees your lodging, but not your ferry spot, so plan well in advance.
- Renovations and upkeep
- Waterfront environments require diligent maintenance. Ask about capital plans for exterior work, pool updates, and guest room refresh cycles.
- Complimentary parking is available in a spacious lot.
- On-site guest services with daily housekeeping.
- Seasonal heated outdoor pool with stunning harbor backdrop.
- High Speed Wi-Fi.
- Beautiful, landscaped gardens with waterfront seating access, including firepits.
- Barbecue grill area with spacious seating.
- Owners’ community kitchen and dining area, recreation room and laundry facilities.
- Owners’ rental program
- No-fee dockage: Owners receive priority booking for slips and no-fee dockage in accordance with rules and regulations.
Deeded ownership records your interest in real estate via a deed, granting rights to use, transfer, bequeath, and treat the property as an asset.
For vacationers who return to the same destination every year, deeded ownership aligns their lifestyle with their financial goals. Deeded ownership provides a guaranteed vacation week along with the stability and rights of real estate.
Deeded ownership differs from Right-To-Use timeshare contracts, which expire after a term and do not grant a recorded real estate interest. Key differences include title, transferability, and potential for equity preservation. In popular, supply-constrained locations, deeded interests tend to retain value better than in oversupplied markets
The Harborside Inn: Waterfront Convenience in Edgartown, MA
The Harborside Inn is located in a prime location nestled along Edgartown Harbor. It blends the charm of a classic New England Inn with the modern comforts of a hotel, and it’s positioned in the heart of the town’s most photographed streetscapes.
Seasonality
- The Harborside Inn operates seasonally for 30 weeks based on the timeshare calendar.
The season starts mid-April and ends mid-November (weeks 15-44 per the interval
calendar). Certain units have stays from Saturday to Saturday, whereas others operate from Sunday to Sunday. - In the vacation setting at The Harborside Inn, deeded ownership is structured as a “fixed-fixed” interval ownership, a designated week in a designated unit each year.
Deeded fixed interval (week based) ownership:
- Buyers purchase a specific week in a specific unit. The deed is recorded with the Dukes County Registry of Deeds.
- Fixed usage: The intervals are fixed to a specific calendar week each year.
- Unit types: availability and categories are based on current inventory. All are one-bedroom units in various locations, with many offering waterfront patios and balconies, while others are situated along South Water Street and Main Street.
The Acquisition Process:
- Closing Documents
- The closing documents, including the purchase and sale agreement, will outline your unit interval, beneficial interest percentage, and related rights.
- The deed will be recorded in Dukes County with appliable recording fees and closing costs.
- A clear title shall accompany your purchase.
How Deeded Ownership Works at the Harborside Inn:
The deeded ownership framework has its own legal structure, calendar rules, and financial obligations.
Owner Rights:
- Use and enjoyment
- The right to occupy your unit for your deeded period, with access to the Inn’s amenities consistent with owner and guest policies.
- Rental and exchange options
- You may elect to rent your week if you can’t use it. The Harborside Inn offers an on-site rental program in accordance with applicable rules and regulations.
- Exchange opportunities through a timeshare exchange company are available, allowing you to trade your week for stays at other locations. Affiliation with worldwide timeshare exchange platforms like Resort Condominium International
(RCI) and Interval International. - Transferability and inheritance
- Deeded interests can typically be sold, gifted, or bequeathed, subject to any Harborside Inn Condominium Trust’s requisite provisions.
- Governance participation
- Owners vote on Condominium Trust matters, e.g. annual trustee elections. Participation helps shape regulations and priorities.
Owner Responsibilities:
- Annual maintenance fees
- Due by January 15th. Paid to the condominium trust, covering all operating costs, e.g., utilities, insurance, staffing, maintenance, and reserves.
- Fees vary by beneficial interest. The average maintenance fee per unit interval is $1,225 per unit interval ($175 per night) for a 7-night stay.
- Special assessments
- Occasionally levied for e.g. reserve funding, large capital improvements.
- Compliance with rules and regulations
- Occupancy limits, check-in/check-out protocols, smoking and pet policies, parking procedures, and quiet hours.
- Taxes and insurance
- Property taxes are included in the annual maintenance fee. The condominium trust carries all applicable insurance.
Attributes Specific to The Harborside Inn:
- Ferry and travel logistics
- Peak weeks require planning ahead for ferry reservations. Ownership guarantees your lodging, but not your ferry spot, so plan well in advance.
- Renovations and upkeep
- Waterfront environments require diligent maintenance. Ask about capital plans for exterior work, pool updates, and guest room refresh cycles.
Amenities and services:
- Complimentary parking is available in a spacious lot.
- On-site guest services with daily housekeeping.
- Seasonal heated outdoor pool with stunning harbor backdrop.
- High Speed Wi-Fi.
- Beautiful, landscaped gardens with waterfront seating access, including firepits.
- Barbecue grill area with spacious seating.
- Owners’ community kitchen and dining area, recreation room and laundry facilities.
- Owners’ rental program
- No-fee dockage: Owners receive priority booking for slips and no-fee dockage in accordance with rules and regulations.