| Timeshares offer people the opportunity to own one | | | | about 4% per year. |
| week's worth (a unit) of vacation during the year in a | | | | When you buy a timeshare you receive a deed for |
| vacation home. The most popular timeshares are | | | | your unit (location and time slot.) This is called a "fee |
| condominium units that come complete with views, | | | | simple" timeshare. This means that the buyer is |
| kitchens and bedrooms although everything from | | | | acquiring an actual share of ownership in the resort. |
| luxury residences to cottages to houseboats can be | | | | There is another type of ownership known as the |
| timeshare units. | | | | right-to-use certificate. These are non-deeded |
| Another word for timesharing is fractional ownership. | | | | timeshares. They are also known as interval |
| One can also have a timesharing interest in ventures | | | | timeshares and are more like a club timeshare. The |
| such as luxury residences, golf clubs and private jet | | | | purchaser owns the right to use the property for a |
| liners. | | | | specific period of time but doesn't own any real |
| Usually, when people think about buying real estate | | | | property. |
| they think of themselves as the sole owner. A | | | | The main difference between deeded and |
| timeshare is a different. Instead of paying full price for | | | | non-deeded timeshares is that the non-deeded (right to |
| the property and owning it yourself, you pay only a | | | | use) timeshare has an expiration date on that only |
| share of the price. This share allows you to use the | | | | allows the user to take advantage of the property for |
| property for a certain period of time every year. The | | | | a certain number of years. By contrast, the deeded |
| rest of the year, other people who purchased shares | | | | (fee simple) timeshare purchase buys an entity that |
| get to use the property. How long you get to stay | | | | can be passed down in an inheritance. |
| there depends on your share (the number of weeks | | | | You can also buy time shares in odd units. Some |
| that you buy.) If you buy 1/52 share you will get one | | | | shares can be smaller than a week. For instance a 1 |
| week a two. Most vacation resorts only offer 51 | | | | 104 share can buy you one week at the vacation |
| weeks for sale, which allows one week for the | | | | destination every second year. You can also purchase |
| cleaning, maintenance and repair of the unit. | | | | larger shares. For example if you buy a 1/12 share you |
| Most timeshares are in vacation hotspots like Florida, | | | | can use the property for an entire month each year. If |
| Colorado and Mexico. These of course are pleasant | | | | you buy a lot of time you can usually divide the time up |
| places with great weather and activities so people | | | | over a number of weeks during the year. The specific |
| don't mind returning to the same spot again and again | | | | time when your share can be used is scheduled |
| to indulge in their favorite hobbies. The great thing is | | | | ahead of time, although it may be possible to trade |
| that you never have to worry about booking | | | | shares with other people at the same resort or even |
| accommodations, especially during a peak holiday | | | | with timeshare holders at other resorts. |
| season. | | | | How much time you buy of course affects the price |
| You also don't have the hassle of maintain the | | | | of your timeshare. Many people buy larger timeshares |
| property as that is taken care of for the owners. Of | | | | with the plan to rent it out and make a profit or to |
| course owners of timeshares pay a hefty | | | | have extra time so that they can trade timeshare time |
| maintenance fee for this that amount to being $200 to | | | | with other owners who have property units in exotic |
| $300 a year. Maintenance fees also rise on average | | | | locations. |