If you are new to timeshare and want to find out more about the different timeshare ownership types then this article is just for you. Here you will find a brief interaction to the various timeshare ownership types on offer so that you can make informed choices about your vacation purchases.
While most of us think that timeshare is timeshare, there are, in fact various different timeshare ownership types from right to use timeshare to deeded fractional properties to vacation clubs and more.
The term right to use is not so much a category of timeshare ownership as a factor you will find in most timeshare products. What it means is that you do not “own” your vacation property, but you own the right to use it for a set period of time, such as 1 week for 25 years. You own a membership at a resort not bricks and mortar. In practice, it is a similar experience to owning a property, but you are not responsible for owner taxes and other such fees.
Fixed Week Timeshare Model
When timeshare first began, most companies worked on a fixed week model which meant dividing up a property into weekly segments and selling a fixed week of the year. Now this worked out fine for the popular seasons, holidays and winters in sunny destinations but meant there were some weeks of the year that were not so popular. The price of the fixed week would be calculated according to the popularity of the week.
While timeshare ownership types are fractional by nature, the term fractional ownership refers to the fractionated ownership of a specific property. In this case your purchase is deeded and you in fact do own part of the vacation property, which is yours like any real estate to sell, bequeath and so on as part of your estate.
The vacation club model is the most popular form of timeshare these days as it provides great flexibility. A vacation club will usually serve more than one resort in various destinations so that you can use your membership to stay at different places rather than purchase a share of a particular unit. Some vacation clubs work by giving you discounts on resort accommodation while others are a points based system that you can exchange for accommodations.