Timeshares
Photo: AITFFan1, CC BY-SA 4.0 via Wikimedia Commons
A timeshare is a type of vacation lodging usually located on or near a resort facility. They are very similar to vacation condominiums (see second homes); however, a timeshare is not sold as a single property. Instead timeshares are sold in weekly time slots or intervals and the timeshare unit is shared among potentially 52 different owners. Timeshares have been sold as fixed weeks, floating weeks, rotating weeks and most recently as vacation clubs or memberships as well as point based systems.
The fine printWhile the format of these transactions varies, they typically involve the purchase of one room or suite in a resort for a week a year, either on a long-term basis (30-99 years) or as actual registered (deeded) ownership…
PitfallsA timeshare contract is a complex real estate transaction with many pitfalls. Don't sign one without expert advice.
See also
Sources and licences
- Guide text adapted from the Wikivoyage article "Timeshares" by its contributors, available under CC BY-SA 4.0. Read on Wikivoyage · Contributors · CC BY-SA 4.0
- Photo: AITFFan1, CC BY-SA 4.0 via Wikimedia Commons