A Compact Guide to the Unique Types of Timeshare Ownership

A lot of people are interesting in buying timeshares. However, there are still a lot of concepts they barely understand. For one, not many are aware that there are actually two kinds of timeshare ownership, "deeded" and "non-deeded". In addition, there are also two basic types of scheduling, "fixed" and "floating". Hence, I suggest that you familiarize yourself with these basic pieces of information before finally purchasing timeshare.



Deeded Timeshare Ownership



When a timeshare owner buys an ownership interest in a specific part of real estate, then it is considered a deeded timeshare. It is through deeded timeshare that timeshare owners are given real property ownership. The deed is recorded in the property’s county and the property has equal rights of ownership as other deeded real estates. Most timeshare owners opt for deeded timeshares.



Non-deeded Timeshares



When your intention is to purchase a lease, license, or club membership to make use of the property for a specific limited amount of time each year, in a span of a specific number of years, then what you need to buy is a non-deeded timeshare. As you can see, with this ownership, you do not actually own the property, but you only buy the right to use it, as oppose to the deeded timeshare. This type of timeshare ownership can usually be found on leased land. Examples of these are timeshares in Mexico and Hawaii.



Fixed-Time Scheduling



In a "fixed time" arrangement, the buyer typically purchases a specific unit or property for a specific amount of time every year. The scheduling is usually determined during the initial purchasing agreement made with the timeshare company, but can also be agreed upon at a later date. In this arrangement, the owner will use the same unit at the same time every year, with no allowed changes in most scenarios.



With fixed-time scheduling, timeshare owners know the exact time of their vacations each year. This can be advantageous since they won’t have to worry about when and where their vacation will be. The downside is that it can be a problem for owners to change the time or place if they want to.



Floating-Time Scheduling



There is no fixed time on when you can use your unit in floating-time schedule. You can choose to go on vacation anytime, but you need to make arrangements to the resorts in advance to secure reservations. Usually, you will be informed when you can make reservations on your destinations already. Some timeshares only allow you to make your reservations within an exact season, which is also called "seasonal floating".



Now, after knowing of the basics of these four facets of timeshare ownership, make sure that you are thoroughly knowledgeable of them and be able to weigh the pros and cons and each. Doing so will help you come up with the right decision in choosing on how to utilize your timeshare and make the most out of it.



Some timeshare companies offer deals that are just too good to be true. Don’t be easily fooled by them since timeshare scams have been rampant in the industry lately.