Fractional Ownership is a term often used interchangeably with co-ownership and vacation home partnership. It refers to a form of ownership where multiple owners pool their resources to buy a second, or vacation, home. Each owner owns a specific percentage of the property and is shown on the deed and title as an owner. Each co-owner can also be a co-borrower on the mortgage loan depending on the amount of down payment applied by each owner. Note that California requires regulatory approval if there will be more than 10 co-ownership shares.