what is a timeshare?
TRANSCRIPT
More often than you would expect people are rather confused about what a timeshare is and what they get out of them
There is a mysterious aura that surrounds timeshares and people often have a lot of questions regarding specifics as well as big picture information
The following presentation is intended to help shed some light on what a timeshare is and what you can gain by owning one
Enjoy and feel free to share
A timeshare is defined by being a property with a particular form of ownership and/or usage rights
Typically timeshares are a part of a larger amount of resort properties where multiple parties hold rights to use the property
Each owner is given a specific amount of calendar time to use the property to their wishes
This time period usually comes down to a one or two weeks a year. This week is usually the same each year as well
Timeshare units may be on a partial ownership, lease, or ‘right to use’ basis, where the sharer holds no claim to ownership of the property
What Can Owners Do?
Owners are allowed certain things for their timeshare properties
These methods of use can and do vary pending on the property
The list coming up should give you a better idea of some of the things owners can do with their properties
What Can Owners Do? (Pt.II)
Use the allotted usage time
Rent out the allotted usage time
Give their allotted usage time as a gift to someone else
Donate their allotted usage time to a charity
Sell their share in the property
Fixed-Week Ownership:This is the most basic of the units for timeshares
An owner may use a unit for a single specified week or whatever their allotted time is for
As previously mentioned an owner may have the 20th week of the calendar year and more often than not the owner will always have the rights to the 20th week on the calendar
Floating-Week Ownership:
There are timeshare units that can be sold as floating weeks
The ownership of these units will be specific on how many weeks the owner owns and from which weeks the owner may select for the other owners stay
An example of this would be the owner choosing to rent out the property from the 25th week of the year to the 40th week
There would thus be somewhat of a competition for the weeks that fall between dates allowed by the owner