Know Your Timeshare Kinds
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Posted On :
Jan-10-2011
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Article Word Count :
535
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In the market, there are two basic forms of timeshare ownership: the deeded and non-deeded. These are accompanied by the two basic types of scheduling that owners can use: fixed and floating. It is a necessity for timeshare owners to tackle both ownership and scheduling systems, even if this can become a source of confusion. For those that plan to own a timeshare, it is important to understand the differences between the categories.
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In the market, there are two basic forms of timeshare ownership: the deeded and non-deeded. These are accompanied by the two basic types of scheduling that owners can use: fixed and floating. It is a necessity for timeshare owners to tackle both ownership and scheduling systems, even if this can become a source of confusion. For those that plan to own a timeshare, it is important to understand the differences between the categories.
Deeded Models
A property is deemed to be a deeded timeshare if the owner purchases a percentage in a specific portion of the real estate, thus giving them actual partial ownership. This is not too dissimilar to how someone can have partial ownership of a corporation by purchasing shares. It is through deeded timeshare arrangements that owners may eventually gain real property ownership. The deed is recorded in the relevant offices and the owner has all the rights of ownership as other form of property, typically limited only by mutual agreement between the owners. Most timeshare owners prefer a deeded timeshare.
Non-deeded Timeshare Ownership
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.
Types of Scheduling
In “fixed-time” or “fixed unit” arrangements, the buyer usually purchases a specific unit and a specific week in the year. This scheduling can either be the result of an initial deal you made with the timeshare company or through a scheduled agreement done late. In this deal, the owner will always be using the same unit in the same period of time each year. This can only change when a swap is made with a different exchange company.
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”.
These are known as the basics of timeshare ownership scheduling and form, though the specific details can vary from company to company. There are definite advantages and disadvantages to each one, so it would be best to take that into consideration.
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Article Source :
http://www.articleseen.com/Article_Know Your Timeshare Kinds _47986.aspx
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Author Resource :
There are a lot timeshare companies offering timeshare deals in the market. Just be sure that the company you’re doing business with is reliable and won’t end up turning the tables on you.
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Keywords :
Timeshare Companies,
Category :
Business
:
Business
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