7221 RUM BAY DRIVE 4213B Fractional Ownership. Fractional Ownership. This condominium is a quarter-ownership villa. Looking for a great way to own on an island, this is it! With quarter ownership, an owner owns 6 two-week periods spread throughout the year plus a single week in January. Each year the ownership period rotates so that over a four-year period each owner has access to all 52 weeks. The maintenance of the property is done through an on-site management company. Located in an intimate and exclusive vacation community, with access to the full facilities, services and amenities of Palm Island Resort. Enjoy 7 miles of natural Florida Beach! The villa features a wide-open living room and entertainment area leading directly to a full large, screened porch. The main suite has access to the Lanai too. The bath and dressing area features a large walk-in closet. These building have new roofs, new windows and sliding doors all impact in addition to new luxury laminate flooring throughout with new carpet in the bedrooms, waiting for you and your family or friends. Enjoy the sun, sand and the fun island life!