Co-ownership is an arrangement where a small group of investors (typically 2-12) share the costs and use of vacation property. These groups can be assembled by a real estate development or hotel company, an individual builder, Realtor or seller, or one or more of the prospective buyers/users. Most co-ownership offerings provide an owner with a percentage of ownership in a property and are listed on the deed as an owner. Co-ownership offerings are typically upscale residences in desirable vacation destinations. Typically, the co-ownership group will secure the services of a management firm to care for the home locally. Fractional ownership differs from "time shares" in that fractional ownership provides deeded ownership in a particular asset rather than just the purchase of time only. Deeded ownership typically provides a much greater degree of control for owners in a fractional project and has the potential for appreciation.