Vacation Ownership: What You Need to Know

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Vacation ownership, also called timesharing, lets you use specific weeks of a resort for a specific period of time. Simply put, it is the pre-purchase of a vacation. It’s vital that you understand that vacation ownership is a good that is bought to be enjoyed and made use of over time. A timeshare shouldn’t be purchased if the intention is to make a profit from its resale. We spend for vacations in order to have time where we can relax and rejuvenate, not turn them into investments. To get a luxurious timeshare from a valued provider consider looking into a Marriott timeshare points resale.

Ownership of a timeshare is very similar to ownership of a condominium except that your rights are limited to a certain week during the year. Ownership can be in the form of a lease, deed, or license.

The license is different in the sense that it is usually a club membership. As long as you are a member who is in good standing, you have all the rights to the use of the club and any of its amenities. Before you decide to buy, make sure that you’ve carefully read and understood all the terms and conditions pertaining to membership in the club. Most vacation ownership consists of either a deeded interest or a leased interest for a specific number of years.

A deed to an interest makes it owned outright forever. It an absolute right which can be sold, leased, or even willed to your heirs. Today’s timeshares are mostly deeded ownership. Check with Marriott timeshare resale restrictions to see if there are any restrictions regarding the sale of your timeshare.

A leased interest is just like an apartment lease only that your right of use it is limited to a specific time during the year. Your rights to use end when the term of your lease ends, it will then return to the resort. With a leased interest you should know the terms and conditions of the lease prior to making the decision to buy.

The time of your use can be either Fixed or Floating. A Fixed time is simply a particular week in a year that’s usually identified by a specific number. Usually, the week begins either on a Friday, Saturday, or Sunday, and then a number is given starting with the first week in January and then ran through until the end of December.

Floating time gives you the right to pick any week that’s available in a certain season of the year. Meaning, if you own a summer season week, you have the right to choose any week as long as it falls within the agreed upon summer months. However, competition between existing owners for prime weeks in very desirable location can impact availability. It’s important for you to know the type of use that will be the right fit for your personal travel preferences.

Every resort is different so you will have to make inquiries as to what other benefits are made available to owners. There are resorts that give special discounted rental rates for additional nights or the use of another resort that’s owned by the same developer. This can give you flexibility and even help you with savings on spending for your vacation. Still, don’t forget to consider carefully how and where your vacations go. This is very important in making your decision about where you should buy and what you will be trading.

Check with us first to determine if there are any Marriott timeshare resale restrictions

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