Frequently Asked Questions

1. What do I actually own when purchasing a share of the Fort Fisher Place private oceanfront residence?
   You become a partner with a one-thirteenth undivided interest in the Fort Fisher Place Partnership which owns the property and all assets of the Partnership. Your interest is recorded with the New Hanover County, NC, Register of Deeds. As a partner, you are entitled to full use and enjoyment of the property on the prescribed schedule each year.
2. How much time do I own in each year?
   As a Fort Fisher Place partner, you are entitled to four weeks per-year for your enjoyment and use. All share weeks advance forward each year. The last share in the calendar year rotation receives the last two weeks of the year, containing Christmas and New Year’s holidays.
3. Can I buy more than one fractional share?
   Yes. Although only two shares have changed hands in the past 20 years, one of the founding partners is now offering two partnership shares for purchase, the first such offering in more than a decade. (The two shares are not adjacent in the rotation.)
4. Can I buy one fractional interval with someone else?
   No. The Partnership Agreement provides that each share must be held in the name of one individual.
5. Who will manage and maintain the property, and who will pay all the bills?
   The partnership has been self-managed from its inception, with the partners gathering once a year (in early spring) to review operations and finances and to plan for the next year. Two (or three) managing partners are elected to serve until the next meeting of partners. They handle the day-to-day responsibilities with some tasks assigned to others. It is truly owner-centric, with no outside developer involved. A professional bookkeeper is responsible for accounts payable and assessments, reporting to the managing partners.
6. Could I swap a week with another FFP partner so that we can come to Fort Fisher Place at a different time?
   Yes. The calendar is issued at the beginning of each year. However, partners may swap weeks with each other, registering the swap with the partner who keeps the calendar. Family convenience can usually be accommodated. A revised calendar is issued one or more times a year to reflect changes. Click here to view a sample calendar.
7. Is secure personal storage provided for partners?
   Yes. Custom cabinetry on the ground level provides spacious individually keyed lockers for each partner family.
8. What type of security is provided for the house and contents?
   A monitored electronic security system is armed each time the occupant changes and at other times as determined by the occupying partner. The Town of Kure Beach police department patrols the area, especially during night time hours. During winter months, we register with the KBPD for enhanced surveillance when the house is unoccupied. Security calls are answered by the caretaker in close communication with the managing partners.
9. Who are the other partners with whom I will share home ownership?
   You will share in the Fort Fisher Place Partnership with other families who have similar interests in owning a top-quality oceanfront residence at Fort Fisher. (Partner list may be available on request.) Demographic research into high-end fractional home owners yields very few surprises: most are well-educated, professional people with strong incomes and net worth. They understand that owning a second home with other independent owners requires appreciation of co-ownership and communication during the year. This includes participation in the annual partnership meeting.
10. How do I sell my partnership share should I choose or need to in the future?
    You can sell your partnership share just as you would any property. This is spelled out in the Partnership Agreement.
            To encourage compatibility of the new partner prospects, the Partnership Agreement requires approval of two-thirds of the partners for a sale to occur, after offering the share back to the partnership. All previous share sales have been unanimously approved.
11. How much does a share cost?
    For $154,900, you can own a share representing one-thirteenth (four weeks each year) undivided interest in the Fort Fisher Place Partnership. The price per-square-foot for this top-quality oceanfront home at Fort Fisher is well below the national average for comparable properties in highly desirable resort destinations.
12. Is financing available?
    No. The Partnership Agreement does not allow mortgaging the property or an individual share.
13. What are the annual costs?
    Each year at the annual meeting, partners agree on the annual operating assessment, currently $3,000 assessed at $750 per-quarter per-share. This includes taxes, utilities, operations, insurance premiums, maintenance, normal repairs and contribution to a capital expense fund. Partners may also decide on other annual assessment(s) for capital projects.
14. How are each owner’s rights and interests protected?
    Fort Fisher Place has taken considerable care to protect each partner’s rights, as well as the value of the property itself. The Partnership Agreement is the governing instrument. It has stood the test of time and has been shared for use in other successful partnerships. In addition, an Operations Manual prescribes a regular maintenance program for the property. Fort Fisher Place is insured for all hazards and details of insurance coverage are available.
15. What happens if there is damage to the home?
    The partnership will ensure that any damages are repaired in a prompt manner by qualified professionals under the direct supervision of a partnership representative. Interruption of the enjoyment or use of the property will always be minimized to the extent possible. A storm policy and checklist is available upon request.
           If damage is caused by an occupant, the partner during whose interval the damage occurs is responsible for all charges. If damages were caused by a guest, it is that partner’s responsibility to collect for all damages and to reimburse the partnership fully. The other partners are not responsible for any portion of such damages.
16. What about smoking and pets?
    Smoking and pets are not allowed inside the house. Any change would have to be voted on by the partners. The selling partners say, “We love our animals. The cat stays home. Our Black Lab goes with us to Fort Fisher Place but must stay outside.”
           Leashed dogs are allowed on the beach under owner control from November through March. During other months, dogs can be taken to the nearby public beach at the Fort Fisher Recreational Area for exercise.
17. What is near Fort Fisher Place?
    The residence is adjacent to US 421, 20 miles south of Wilmington near the mouth of Cape Fear River in the town of Kure Beach. Wilmington is an historic port city with lots of history kept alive by a popular historic district, the Battleship North Carolina memorial, carriage rides, river tours and The North Carolina Azalea Festival. The Fort Fisher/Southport ferry docks two miles south of Fort Fisher Place. The ferry takes passengers, bicycles and cars to Southport, NC for easy access to Bald Head Island, NC, the Brunswick County Beaches and Myrtle Beach, SC.
18. What is there to do on a rainy day to compete with video games?
    The North Carolina Aquarium at Fort Fisher is approximately one mile south of Fort Fisher Place. One of three coastal sites of the North Carolina Aquarium, the expanded thematic exhibits feature aquatic life of the Cape Fear River and basin and the Atlantic Ocean. Huge tanks contain species from jellyfish to sharks and feeding time is a big hit. A “touching tank” safely entertains those who want to learn by touching.
19. Tell us about nearby restaurants and clubs, golf courses, etc.?
    Quality restaurants are located throughout the area in Wilmington, Wrightsville Beach, Kure and Carolina Beaches. Hundreds of golf courses are located within a two-hour drive. Access to two island golf courses may be arranged.
20. How is this different from a timeshare?
    Owning a share in a top quality residence such as Fort Fisher Place differs from timeshares. Whereas timeshares offer benefits to those who are interested in vacationing one to two weeks a year and don't mind competing for space at their preferred destination, being a partner in Fort Fisher Place offers some very important differences:

• A partnership interest in this luxury vacation property, with full ownership privileges during the designated four weeks each year;
• As property values increase, each share’s value increases;
• Generally, three or more bedrooms and more square footage;
• A significantly higher level of top-quality furnishings and services;
• The security of knowing that you can return year-after-year to your private residence at Fort Fisher on the beautiful North Carolina coastline;
• A greater number of weeks spent at your private oceanfront vacation home;
• All important decisions are made by you and the Fort Fisher Place partners, not by a corporation, developer, or property management company;
• You have pride of ownership.