Kaverna

Take the first step toward owning your dream second home 

Kaverna's offering is not being extended to anyone in a jurisdiction that would require government approval. Homes listed on this website are meant for personal use only — this offering is not an investment vehicle and buyers should not expect profit or income.   

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Co-ownership Policies: Exit Plan Options

As the only true and flexible co-ownership solutions provider and multi-member LLC manager, Kaverna has designed three exit plan solutions that interested buyers can choose between to get the perfect co-ownership experience for them.


Selling Basics: Selling a Co-ownership Share


Owners can sell their share any time after the first 12 months. Just like selling a full home, interested sellers can hire an agent and list their home at any price. Kaverna is happy to assist by connecting sellers with agents who are highly competent at selling co-ownership shares. If an owner is having trouble selling their ownership, their home’s exit plan (Elective, Defined, or Independent) will help ensure that owners always have a path to selling their ownership at full market value.


Exit Plan Option 1: Elective Exit Plan


The Elective Exit Plan is a protocol for selling the entire home at a fair market value. This protocol was designed to give owners who are dissatisfied with the efficiency of the selling market for fractional ownership interests a clear path to selling the whole home at the full market price. At the same time, the protocol protects owners who do not wish to sell and would like to hold onto their share for the long term.


Not only does the Elective Exit Plan add peace of mind to owners and an assurance that there is always a path to selling their share, but the Elective Exit Plan also helps tie the value of shares to the value of the whole home, making it easier for owners to sell their share individually at a price corresponding to the share’s percent of the home. Ultimately, because owners can vote to sell the whole home, each co-owner’s share value is tied more closely to the value of the home, as well as the multitude of additional benefits one gets in fully-managed LLC co-ownership.


Exit Plan Option 2: Defined Exit Plan


The Defined Exit Plan creates a set amount of time that the co-ownership agreement lasts. When the term ends on the co-ownership, the home is sold as a whole at the home’s full market price unless the owners vote to prolong the co-ownership of the home.


Exit Plan Option 3: Independent Exit Plan


Like all other exit plans, The Independent Exit Plan allows each co-owner to sell their share independently, at the time of their choosing, but this plan does not have a defined term and the home can only be sold as a whole following a unanimous vote.