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Types
of Ownership: |
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Deeded, an undivided
interest |
This is when
you have a grant deed on your timeshare property. Ownership
is in perpetuity. Similar to common ownership in a house. |
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Deed with Points |
The deeded section is the
same as above, except that you can convert upon exchange or
at your resort to utilize points. |
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Deed Fractional
Ownership |
Where an owner owns more
than one week. Usually fractional are sold for one month of
Ownership up to 13 weeks of ownership. |
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Points Only |
No deed attached, You own
a specified amount of points, which can be transferred upon
sale. However, usually the points are for a period of time. |
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Right to Use |
A membership in a resort
a specified period of time. Time will expire. |
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Types
of Use: |
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Floating |
A period of
time where you can use your timeshare week/ points/ etc throughout
the year. |
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Fixed |
a specified period of time:
Example week 52 You can only use your week at that time. |
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Floating/Fixed |
You may own a fixed week
like week 52, however If you choose not to, you may choose another
week of the year. |
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Points |
You may use your points
for day stays or week Stays. You may choose the size of unit
depending on your points. |
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Types
of Seasons: |
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All |
You may choose
any week of the year. |
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Winter |
You may only choose a week
in the winter season. |
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Summer |
You may only choose a week
in the summer season. |
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Spring/Fall |
You may only choose a week
in the Spring and Fall Season. |
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Holidays |
You may only have the option
of a holiday week. May be fixed. |
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Additional
Terms: |
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RCI |
Resort
Condominiums International - An exchange company that
the resort is affiliated with. |
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II |
Interval
International - An exchange company that the resort is
affiliated with. |
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Gold Crown |
A rating that RCI, the exchange
company gives a resort. The highest rating a resort can achieve. |
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Five Star |
A rating that Interval
International uses to rate a resort. The highest rating
a resort can achieve. |
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RID |
Resort
of International Distinction - A rating for a non Gold
crown resort. |
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Timeshare
Resales Frequently Asked Questions (FAQ) and Answers |
Question:
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Why should I purchase a timeshare
and how does it work? |
Answer: |
Purchasing a timeshare
can divert otherwise lost vacation dollars into a piece
of vacation real estate serving your vacation needs
for the rest of your life. Timeshare weeks can be reserved
at your home resort or can be traded into other resorts
through an exchange company for world wide travel. |
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Benefits to Owning a Timeshare
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You will have guarantee
quality future resort vacations for yourself and
others in your family.
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You will build your
own equity rather than that of your vacation landlord
AND be enjoying some of the finest vacation accommodations
available.
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You will have beaten
vacation inflation, which means you SAVE MONEY!
You will have the privilege of using Bonus Time
at your resort, so you can enjoy mini-vacations
in addition to the timeshare week(s) you own.
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Question: |
How long do I get to stay? |
Answer:
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Timeshare or vacation
ownership has a variety of different options, from deeded
ownership, quarter shares, points program, and right
to use membership. |
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Question: |
Can I use the resort at other times
in addition to my week usage? |
Answer: |
YES. Most resorts
offer day use and additional time to owners at a reduced
rate; this benefit is most commonly known as bonus time. |
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Question: |
Will I receive all major benefits
that the resorts are offering? |
Answer: |
YES. All major benefits
transfer to you when you purchase a resale timeshare.
The property's Homeowners Association benefits and rules
apply to all owners regardless of how the property was
acquired. |
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Question: |
Will I have to pay any outstanding
maintenance fees in addition to the purchase price? |
Answer: |
NO. Every sale is
processed through a title and escrow company. |
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Question: |
Will I receive clear title on the
property? |
Answer: |
YES. Every sale is
processed through a title and escrow company. |
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Question: |
Do I have to pay a maintenance fee
on my timeshare? |
Question: |
YES. A timeshare
property’s Homeowner’s Association collects
an annual maintenance fee from the timeshare owners
to keep the property in quality condition. As an owner
you can actively participate in your Homeowner’s
Association.
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More
Questions? Contact Us |
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