Table of Contents
Classification Of Timeshare Properties
Deeded/Right to Use
The buyers buy the timeshare for a specific number of years(20-30) in advance. Based on a contract for a period of time and after the time is completed all the rights revert to the property owner.
Floating Timeshare
One can holiday with their family in various resorts owned by the timeshare for a specific company for the specific period one has purchased the holidays for. In this ownership it allows a guest to buy a week within a specific period. For eg.5 days in January and 10 in some other month. So the customer can plan suitably where there are no seasonal variations,
Fixed Week Ownership
The owner may own a deed to use a unit for a single specified week. He may choose any calendar week like the first week of July as per his need and convenience. The owner will have to use that week every year. This concept was not very popular as it was rigid and didn’t give the customer the flexibility in usage so it became outdated in1980s.
Rotating Week Ownership
Weeks are rotated forward or backward in the calendar to give owners a chance for the best week. For eg. one year the owner may use the 1st week of January then 2nd week next year. Gives owner an opportunity for prime weeks.
Vacation Clubs
Owners become members of the club. Timeshare has vacation ownership programs based on point systems Eg Hyatt. Has ownership for a certain number of years