timeshare is the name locations. For instance, an owner
given to piece of real in the Bahamas could swap his
estate where a number of weekly ownership for a similar
individuals share ownership in timeshare in Hawaii. Many major
the subject property. As opposed hotel companies, such as Marriott
to a standard home where an International, manage and sell
individual or, for example, a timeshares at resort locations.
husband and wife share ownership,
a timeshare is almost always There are two basic types of
owned by a number of people who timeshare plans:
have no relation to one another
whatsoever. • Deeded Timeshare
Timeshares can be sold or passed True property ownership with deed
down to heirs as with other forms recorded in the county where the
of real estate. Many people not property exists. This type of
only look at their timeshare as a property has the same rights of
means to have a great vacation, ownership accorded to it as other
but they also view it as an deeded real estate. The owner may
investment. Should they decide sell, rent, bequeath, or give
not to use the property for their away the property. A deeded
own usage, they can rent their timeshare functions just like a
timeshare to others. Also, the home. The owner owns the property
value of many timeshares forever, unlike a leased
increases with the passage of timeshare. With this type of
years, so long as the destination property, an owner can will the
remains attractive. property to loved ones.
Most timeshare agreements allow • Non-Deeded Timeshare
owners to trade and swap
A non-deeded timeshare is more timeshare would be a better
analogous to a rental or lease. investment than a non-deeded time
You do not own the property, but share and is more easily
get to use the property as agreed transferable (of course, one
in the Time share agreements for should check into any
a certain period of years.There restrictions on resale of deeded
are a number of considerations timeshares, or subleasing for
you should take into account when non-deeded timeshares). A
purchasing a timeshare. non-deeded timeshare, however,
may be better if you're looking
Why A Timeshare? for something for the family to
enjoy. For example, maybe you
What is the purpose of your want a Florida condo for a week
purchase (e.g., investment, each of the next three
vacation, etc.)? And how long do summers--but who knows where you
you plan to use the timeshare? If might want to go after that? With
it is for investment, you should a three year non-deeded timeshare
have an exit strategy--i.e., after your interest expires
when, where, to whom, and for how you're free to move on just like
much are you going to sell the any other rental agreement.
timeshare? Generally a deeded
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