What are the advantages of Ownership in Red Frog Beach's Private Residence Club?
- Provides for the ownership and use of a luxury villa while significantly reducing the financial burden of whole ownership through the shared ownership of the villa.
- Provides owners with generous and flexible vacation use for themselves and their guests.
- Provides the high levels of guest services while removing the worries and hassles typically associated with vacation home ownership.
- Provide owners with a valuable real estate asset that can be resold.
Is Red Frog Beach a timeshare development?
No. Red Frog Beach and the Private Residence Club is owned and enjoyed much like a private, equity golf country club. Owners have access to their villa with the right to use it anytime, subject to the Reservations Policies and Procedures.
Are there other Private Residence Clubs at resort locations?
Yes. Private Residence Clubs are the fastest growing segment of the luxury vacation home industry. Affluent buyers at premier destinations such as St. Barths, Tuscany, London, Aspen, Vail, Telluride, mid-town Manhattan, Scottsdale, Cabo San Lucas and Deer Valley have enthusiastically embraced the ownership concept offered by Private Residence Clubs.
How many ownerships will be sold?
This is based on the number of available villas put into the plan and the Ownership Documents mandates a maximum of ten (10) owners per villa.
Can an Ownership be resold?
Yes. The villa will be owned by a Panamanian Corporation and the individual owners will own their corresponding number of shares. Therefore, an owner can sell or transfer the shares that they own at any time.
As an owner, how often can I stay in my villa?
Each owner is guaranteed five (5) weeks of Planned Vacation use in the villa each year. Owners may rent additional time from the other owners.
Do owners have guest privileges?
Yes. Owners may invite guests on an accompanied or unaccompanied basis subject to the Reservations Policies and Procedures.
When will my villa be ready for occupancy?
Villas in Red Frog's first phase are currently under construction and occupancy for the first luxury fractions will likely be in 2010. Specific availability depends on the villa selected.
Can an Owner leave personal belongings at Red Frog Beach?
Yes. Red Frog Beach provides a secure, climate controlled area for owners to store their clothing and personal items.
Will the Owners always stay in the same villa?
Yes. Owners of a Red Frog will stay in the same villa during their vacations.
What is provided with the Annual Owners Fees?
The Annual Ownership Fees cover the typical costs of maintenance, professional management and operations of all Red Frog Beach facilities and amenities. These fees provide funds for staff salaries, insurance, cable TV, telephone service, supplies, interior maintenance, exterior maintenance, landscaping, window washing, trash removal, legal and accounting fees, fuel, utilities, internet service and funds for replacement of villa furniture and finishes.
Who controls the affairs of the PRC at Red Frog Beach?
In accordance with the Ownership Documents, an Owner-elected Board of Directors will control the affairs of the PRC at Red Frog Beach including the establishment of the annual operating budget.
Can a corporation, partnership or LLC own an Ownership?
Yes. A corporation, partnership or LLC can own an Ownership. The legal entity that owns the Ownership identifies annually one person to be the Designated Owner with all the rights and privileges of Ownership.
How is title conveyed to the owner?
The Panamanian corporation will hold the title to the specific villa and each Owner will receive their appropriate fraction of the shares. The corporation will also hold a title insurance policy by a recognized title insurance company.