fractional ownership


Several properties within PCTH are owned by multiple owners in a type of time share regime call "fractional ownership"; however, each fractional owner has a deeded interest in a particular property and not a common interest in a group of properties, as with most time share arrangements. PCTH fractional ownerships are divided into two groups - quarter-share owners and eighth-share owners. Each fractional owner is assessed a monthly maintenance fee to cover the costs of operating and maintaining their home.

  There are separate corporations in place for both the quarter-share and eighth-share properties, that are responsible for collecting the fees and making expenditures on behalf of the fractional owners.  Fractional share properties have their own elected Board of Directors, Financial Management and Property Management - each under separate management agreements - with their Board independent of the PCTH Board of Directors.

BOARD OF DIRECTORS


Governing the 6 Townhomes with Fractional Ownership

Diana Fraser

COUNCIL I - PRESIDENT

Diana and her husband, Bill, own three-quarters of the single quarter-share townhome.

Virginia Brown

COUNCIL I - VICE PRESIDENT

Virginia owns one-quarter of the single quarter-share townhome.

BILl Villarreal

COUNCIL II - PRESIDENT

Retired electrical construction manager with projects from San Francisco to Puerto Rico - including Reliant Stadium (NRG). Bill and his wife, Patricia, have been married 50 years.

PAULA BULLOCK

COUNCIL II - VICE PRESIDENT

IT administrator with 30+ years in the natural gas pipeline transportation business. Paula and Mark have been fractional owners for over 20 years and married for 28 years.

TIM TOWNER

COUNCIL II - SECRETARY

Vice President of Sandcastle Industries, Inc., who provides financial management services for PCTH.

ARCHITECTURAL CONTROL

The Architectural Control Committee (ACC) is charged with reviewing all owner requests for exterior modifications, enhancements or improvements - as outlined in the Deed Restrictions - to ensure that the common interests of the complex are preserved and protected.
Owners should submit exterior change requests by downloading and completing the ACC Application and emailing it to Liz Cook, Property Manager.  Liz will forward all requests to the ACC for review and approval - once reviewed, approvals and rejections will be communicated to the homeowner via Liz Cook.
Liz Cook, Property Manager, will maintain an Architectural Control Log on all approvals and denials and will provide a copy of the ACL to the Pirates Cove Townhome Association Board of Directors.