STUDENT HOUSING INVESTMENT PROCESS

• US 20080288381A1
• Filed: 05/15/2007
• Published: 11/20/2008
• Est. Priority Date: 05/15/2007
• Status: Abandoned Application

• Current Assignee: Wayne T. Senecal
• Original Assignee: Wayne T. Senecal
• Inventors: Senecal, Wayne T.
• Application Number:
  US11/748,824
• Publication Number:
  US 20080288381A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A method of investing in a multi-unit residential property used for housing students registered with and attending a academic or quasi-academic institution. The residential property is configured to include common areas and one or more apartments, wherein each apartment further includes common areas and one or more bedroom spaces. Ownership interest in the property is transferred from a first entity to a second entity, and fractional ownership interests in the property are transferred from the second entity to one or more third entities. Factional ownership interest in the property includes occupancy rights to a specific bedroom space. The exclusive ownership interest in the specific bedroom space extends further to include non-exclusive ownership interest with accessibility and usage rights to the common areas associated with the apartment having the specific bedroom space and with the property. Criteria for acquiring, occupying, and/or retaining the fractional ownership interest in the property are established by the second entity.

Claims

1. A method of providing residential student housing to a student tenant associated with an academic or quasi-academic institution comprising the steps of:

(a) acquiring a multi-unit residential property by a first entity, where the residential property includes apartments, each divided into one or more bedroom spaces and associated common areas;

(b) transferring an ownership interest in the multi-unit residential property from the first entity to a second entity;

(c) establishing a written occupancy scheme or plan that defines rights of exclusive occupancy for each bedroom space in each apartment, together with non-exclusive rights of use with respect to common areas within each apartment and within the multi-unit residential property, and correlates such exclusive and non-exclusive rights with the ownership of a specified fractional ownership interest in the multi-unit residential property;

(d) transferring, from the second entity to a third entity, one or more fractional ownership interests in the multi-unit residential property, with each fractional ownership interest carrying a corresponding right to exclusive use of one or more bedroom spaces and non-exclusive rights of use with respect to common areas; and

(e) providing for the granting by the third entity of an occupancy right to a student tenant, while the student tenant is associated with the academic or quasi-academic institution, with respect to a specific bedroom space and associated common areas, based on the third entity'"'"'s rights derived from the fractional ownership interest of the third entity, or, when the third entity is a student, this occupancy right is derived directly from the student'"'"'s ownership of the fractional interest.

2. The method of claim 1 wherein the multi-unit residential property is an existing property or is a new property developed by the first entity.

3. The method of claim 1 wherein the multi-unit residential property is located on a campus of the academic or quasi-academic institution, or wherein the multi-unit residential property is located off of a campus of the academic or quasi-academic institution.

4. The method of claim 1 wherein the first entity retains at least a partial ownership interest in the multi-unit residential property, or wherein the first entity transfers all of its ownership interest in the multi-unit residential property to the second entity.

7. The method of claim 1 wherein the ownership interest of the second entity is a leasehold or fee interest granted to the second entity by the first entity.

8. The method of claim 7 wherein the ownership interest of the second entity is a fee interest granted to the second entity by the first entity.

9. The method of claim 1 wherein the first entity is the academic or quasi-academic institution and wherein the ownership interest of the second entity is a leasehold interest granted to the second entity by the academic or quasi-academic institution.

11. The method of claim 1 wherein the second entity manages the occupancy rights and property functions of the multi-unit residential property.

12. The method of claim 1 wherein the third entity is a parent of the student tenant, or wherein the third entity is the student.

14. The method of claim 1 wherein a parent is a guarantor of obligations relating to the student'"'"'s fractional ownership interest.

15. The method of claim 1 wherein the fractional ownership interest is a deeded fractional interest.

16. The method of claim 1 wherein the fractional ownership interest is a time share interest, that is, an interest that confers a recurring right of occupancy during a specified period each year.

17. The method of claim 16 wherein the fractional ownership interest is a floating time share interest, that is, an interest that confers a right of occupancy for a specified number of days or weeks each year, but not necessarily the same period each year.

18. The method of claim 1 wherein the fractional ownership interest is a cooperative interest, evidenced by a share or shares of stock in a cooperative association or corporation and accompanied by a proprietary lease governing rights of occupancy.

19. The method of claim 1 wherein the one or more bedroom spaces are associated with apartments containing one, two, three or more bedrooms and are divided into different groups of bedroom spaces according to the number of bedrooms in the apartment, and wherein the fractional ownership interest is associated with a particular group of bedroom spaces and the particular group includes one or more bedroom spaces that are substantially equivalent.

21. The method of claim 19 further comprising changing the student tenant'"'"'s occupancy rights for a specific bedroom space for a different bedroom space within the same group without changing the fractional ownership interest of the third entity.

22. The method of claim 1 wherein the multi-unit residential property is managed by an asset manager that allocates the bedroom spaces in a group among two or more student tenants, each of whom has occupancy rights to the bedroom spaces in the group.

23. The method of claim 22 wherein the asset manager is the second entity.

5-6. -6. (canceled)

10. (canceled)

13. (canceled)

20. (canceled)

24. A method of investing in residential student housing comprising the steps of:

(a) obtaining a fractional ownership interest from a co-ownership entity to one or more bedroom spaces and associated common areas in a multi-unit residential apartment property having one or more groups of different bedroom spaces and associated common areas;

(b) providing a student tenant with an occupancy right to the bedroom space and associated common areas for a predetermined period of time while the student tenant is associated with an academic or quasi-academic institution in accordance with the fractional ownership interest; and

(c) earning income on the fractional ownership interest associated with the student tenant occupancy right by charging the student tenant for the occupancy right, by selling the fractional ownership interest to a subsequent purchaser of the fractional ownership interest, or by both initially charging the student tenant and then selling the fractional ownership interest to a subsequent purchaser.

25. The method of investing of claim 24 wherein the fractional ownership interest is obtained by a parent of a student tenant, a student tenant, a student tenant guaranteed by a parent of the student or a third party.

26. The method of investing of claim 24 wherein the fractional ownership interest giving rise to the right to occupy a bedroom space and associated common areas is a fractional deeded interest, a fixed or floating time share interest, or a cooperative interest.

27. The method of investing of claim 26 wherein the fractional ownership interest is a floating time share interest.

28. The method of investing of claim 24 wherein the student tenant occupancy right is a paid time share right or a paid rental right.

29. The method of investing of claim 24 wherein the fractional ownership interest is managed by an asset manager and wherein the asset manager facilitates financing the fractional ownership interest.

31. The method of investing of claim 29 wherein the financing includes mortgages from third parties or wherein the financing includes student loans from third parties.

30. (canceled)

32. (canceled)