What is a Timeshare?

Ryan Beachum

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

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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

Ryan Beachum

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