The Essential Kinds of Timeshares on the Market
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Posted On :
Jan-12-2011
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Article Word Count :
528
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There are two basic kinds of timeshare ownership, “deeded” and “non-deeded” and two basic types of scheduling, “fixed” and “floating.”
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There are two basic kinds of timeshare ownership, “deeded” and “non-deeded” and two basic types of scheduling, “fixed” and “floating.” Tackling ownership and scheduling systems can be confusing, so here is some basic information. If you are planning on owning a timeshare, these are some of the most important information you need to know.
Deeded Types
Most timeshare owners prefer this kind over the other. When buying a “deeded timeshare”, you are purchasing an ownership in a particular part of real estate. It is considered a true property ownership where the deed is recorded in the county where the property is located.
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.
Fixed-Time 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.
Timeshare owners gain the benefit of when their vacations will be, allowing them more time to arrange their schedule around that period. However, while this does grant a large amount of security, it can also be detrimental. This is because there are very few avenues available for those who wish to change the location or time that they can use property.
Floating-Time Scheduling
In a “floating time” arrangement, there is no set date during the year when the owner can utilize the property, providing them a great deal of flexibility. The only limitation is that the owner must make arrangements with the company or resort to make reservations for the time they desire, similar to booking a room in a hotel. Rules and regulations are typically provided on when and how this can be done early on. In some cases, timeshare resorts or companies only allow people to make reservations within a given season, a practice commonly known as “seasonal floating.”
Now that you are already aware about these basic concepts on timeshares, it will be easier for you to decide on what to purchase. Study your options well. Weigh the pros and cons, and choose what option works best for you so you can make the most out of it.
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Article Source :
http://www.articleseen.com/Article_The Essential Kinds of Timeshares on the Market_48153.aspx
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Author Resource :
When looking for a timeshare deal in the market, be sure that you are doing business with credible people. Timeshare scams have been spreading in the industry lately and it wouldn’t do you any good to become another clueless victim.
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Keywords :
Travel News, Timeshare, Timeshare Company, Travel, Timeshare Club,
Category :
Travel and Leisure
:
Travel and Leisure
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