As a volume buyer, it can buy jets at modest discounts and then sell fractional interests that add up to more than the cost of the plane.

After owners buy a fractional interest, they also pay NetJets an hourly flight fee as well as monthly management fees.

Sometimes there were hundreds of people having a fractional economic interest in a single oil-producing property.

Buying a fractional interest in a business jet certainly is less expensive than buying an entire plane, which today goes for as much as $25 million.

He said the S.E.C. believed that when viatical settlements were broken into fractional interests, they constituted investment contracts subject to its regulation.

Instead, we yearn to buy more fractional interests similar to those we now own or - better still - more large businesses outright.

Conrad Black's great-great-grandfather, Thomas Riley, moved to London about that time and is said to have purchased a "fractional interest" in the paper.

The statute did not make any provisions for the payment of compensation to the holders of the fractional interests which were to escheat to the tribe.

Businesses or fractional interests in businesses may be valued for various purposes such as mergers and acquisitions, sale of securities, and taxable events.

This is accomplished by deeding an "undivided fractional interest" in the property to the charity.