Divide and conquer! No, that's not a misnomer. Fractional ownership is a way of gaining a luxury you cannot afford on your own. Why purchase an expensive resort home that you'll only use part of the year when you can own a fraction, enjoy the benefits and not worry about maintenance or housekeeping.

This is not the same as a time share. A time share only gives you the option of using a space for a specific amount of time. And it decreases in value. Fractional ownership, on the other hand, is a true investment with value that can be passed down or sold. It's affordable ownership in a luxury vacation home. Mortgage companies look at fractional ownership favorably because more of the buyer's dollar goes into quality finishes and the experts agree the appreciation value appears to be excellent.

Private Residence Clubs with fractional ownership are springing up across the country. They are generally much more upscale than a time share and your annual fee will give you access to the club house, spa, fitness center, golf course or other amenities offered. And instead of a two to three week stay, they typically give you up to 13 weeks, depending on your percentage. Call ahead and when you arrive you'll have your refrigerator stocked, dinner reservations made and tickets to area events all waiting for you. If you like, you can even have your favorite family photos and knick-knacks placed for you.

If this kind of investment sounds appealing, carefully check the cost of entry, possible appreciation, yearly fees and amenities. And make sure this is the spot you'll want to return to year after year for your vacation or 'down time.'

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