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Timeshare or Vacation Ownership Facts
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There were 9 questions found in this category:
Can I sell my timeshare?
Yes. Once you are the legal owner of a timeshare week, you may sell it at any given time.
What is leased or certificate property?
The right to use your timeshare for a specified number of years. At the end of this period the property reverts back to the developer. Some resorts allow accelerated usage which means that you may borrow usage from future years. to do so you will normally pay the maintenance fees for the acceler ...
What is a deeded property?
A deeded property does not expire. Once you own it, it's yours until you decide to sell it - much like owning your home. Deeded properties may also be passed to your heirs.
What is a lock-off unit?
Lock-off units may be divided into two or more smaller units. For example, a two bedroom lock-off may be divided into a one bedroom and a studio, or some other configuration which the particular resort will provide. Usually one of the units is used to exchange - giving you the ability to vacatio ...
What is a point system?
Timeshare points systems are much like frequent flier miles. Each year you're allotted a number of points to be used for accomodations at your resort. More points translate larger accommodations and better trading power. For example, a low season studio unit may take 100 points to reserve a un ...
What is a floating week?
A floating week guarantees you one week within a period of time set by your membership. Each year, you contact your resort and reserve the week during your season that you would like to use. If you plan on exchanging your floating week, you will need to make a reservation before you deposit your ...
What is a fixed week?
When you purchase a 'fixed week' you get a specific week's usage each year. The first week of the year will be designated as week #1, and the last week of the year will be week #52. Usually, fixed weeks are assigned to a fixed condominium unit as well.
What are the different types of timeshare?
Fixed, floating and points system.
What is Timeshare?
Timeshare is a form of vacation ownership. You own the right (either directly or through a "points club") to use a week (or longer) in an apartment or villa on a vacation resort for a great many years or in perpetuity. Over six million families own timeshare worldwide - the majority well satisfi ...
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