The Process - Peak Partnerships, LLC

A small group of owners, set up in the form of Tenants in Common, shares in the ownership and use of a beautiful vacation home maintained by a professional manager and guided by a comprehensive operating agreement.

Each owner pays only a fraction of the cost of maintaining the home, but collectively they own 100 percent of the property and share in 100 percent of the costs, time for use, and appreciation of the asset.

All owners receive a robust operating agreement that clearly defines the rules for use of the property, the time selection process, maintenance and repair of the property, management of the property and company, how to sell or transfer ownership, and other important information.

With a Peak vacation home partnership each owner will own a 1/6 (16.67%) interest, 60 days use per year, in a specific luxuriously appointed vacation property, which includes perpetual and transferable ownership rights. The equity interest can be transferred to a family member, or sold to a third party, with a first right of refusal of the existing members under the terms of the Operating Agreement.

Peak Partnerships, LLC, has developed a very robust Time Selection Process to ensure the best possible use of your vacation home interest.

At the Annual Owners Meeting each owner may choose a pre-defined 60-day time period for the following year.

The order of the selection of the Time Periods for each owner will be based on their close of escrow date. Each year the initial Time Period selection will rotate forward to the next owner in order so that each owner has an opportunity for the first Time Period selection over time.

If multiple shares are purchased by an owner, and close escrow on the multiple shares on the same date, then that owner will be allowed consecutive selections of time periods each year.

Rental Pool Program

Each owner may elect to participate in the Rental Pool Program which allows for sharing of time with other owners as well as rental income sharing.

If an owner elects to participate in the Rental Pool Program, that owner will decide which nights they will use and which nights they will place into the rental pool program, and may use up to their alotted time free of charge each year.

A reservation agreement and cash deposit of five thousand dollars ($5000) establishes the purchase price and initial time-use selection priority for each prospective partner.

A 30-day escrow period will be opened upon receipt of the deposit check and reservation agreement. A professional escrow company will hold the deposit check during the 30-day escrow period.

The deposit check is refundable through the end of the 30-day escrow period for review of the governing documents, as well as to perform any inspections that might be deemed necessary by the buyer.

The purchaser of an ownership interest has until the completion of construction to complete the purchase of their interest with cash or with financing offered by Peak Partnerships, LLC.

Current pricing information is available on request. Peak Partnerships, LLC, maintains the right to change the price or terms at any time.

There are several ways to sell or transfer an ownership interest in a Peak Partnership property:

An ownership unit may be transferred to a family member or relative at any time.

An owner may also offer his ownership interest for sale to the open market, subject to a first right of refusal by other owners of the property.