These two terms are often used together and interchangeably with regard to vacation fractional ownership.  Fractional ownership can also be known as residential fractional ownership, also known as tenants in common, (TIC) and is not related to private residence clubs.  Fractional Ownership /PRC are generally the vacation home option that allows a person to purchase a portion of a vacation home anywhere in the world for a fraction of the cost and a fraction of the expense.  This form of co-ownership group can be anywhere from 4-12 undivided interests or shares in the property based on the model being offered for sale. Each ownership interest would share the expenses and maintenance based on their ownership interest.  Vacation Fractional Ownership/ PRC intervals are smaller as people generally buy only what they will use.  This type of ownership can be offered by an individual seller, a real estate developer or hotel company. Typically, each co-owner owns a percentage of the property which is shown on the title and deed to the property as an owner. (Equity)