fractional interest


A share in the ownership of real estate. For example, a large property may be too expensive to maintain by one owner so instead of buying the whole property, a person may purchase a share of it along with four other people, becoming the owner of 1/5 of the property. Each owner shares in the maintenance and taxes and they take turns in actually occupying the property.

Use fractional interest in a sentence

Related Terms

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
fractional discretion order condominium