FREQUENTLY
ASKED QUESTIONS
GENERAL TIMESHARE QUESTIONS
What
is vacation ownership?
Vacation ownership also known
as timesharing offers consumers the opportunity to
purchase fully furnished
condominium style vacation accommodations in a variety
of forms such as fixed weeks, floating weeks, points
based clubs, fractional and cruises for only a percentage
of the cost of full condominium or vacation home
ownership. Two basic types of timeshare units are sold:
fee simple
where the buyer gets title to a fraction of the unit;
and right-to-use where the purchaser is entitled
to use the unit for a specified period of time, but
does
not have an ownership interest. For a one-time purchase
price and payment of a yearly maintenance fees and
taxes, purchasers own their vacation either in perpetuity
or for a predetermined number of years. More than
5 million families have discovered the benefits and
affordability
of buying one or two weeks of vacation ownership
rather than year-round ownership of a condominium unit
or
second home. Where are most vacation ownership resorts
located?
Vacation ownership resorts are found across
the globe in most every popular vacation destination.
You'll
find vacation ownership resorts near beaches, ski
areas, attraction areas, major cities, rivers and
lakes.
How does vacation ownership work?
Each condominium,
or unit, of a vacation ownership resort is divided
into intervals, either by the
week or points equivalent, which are sold separately.
The condominiums are priced according to a
variety of factors,
including size of the unit, resort amenities,
location, and season. For a one-time purchase
price and payment
of yearly maintenance fees and taxes, purchasers
own their vacation either in perpetuity (Deeded)
or for
a predetermined number of years (Right to Use).
Ownership
entitles you to a certain amount of time in
that property per year (Normally 8 Nights & 7
Days). Owners share both the use and the costs
of upkeep of their unit
and the common grounds of the resort property.
What
are the advantages to becoming a vacation owner?
The
advantages are numerous. Vacation ownership secures
affordable, diverse quality vacations
for life. Simply
put, vacation ownership provides tomorrow's
vacations at today's prices. But there's
more. Typically
your vacation ownership accommodations
far exceed your
typical hotel room. Luxury rooms, kitchens,
multiple bedrooms
and baths, they're really a home away from
home.
How many people are vacation owners?
It is estimated
that more than 5 million families have discovered
the benefits
and affordability
of buying
one or two weeks of vacation ownership
rather than year-round ownership of
a condominium unit or second
home.
What are some of the most common
vacation options?
Whole ownership of a vacation home
or condominium... Pay rent to hotels & motels...
Rent or purchase a motor home...Or,
Vacation ownership where you receive
all of the same benefits of condominium
or vacation
home ownership at a fraction of the
price because you only purchase the
time that you need.
If I purchase,
when will I receive my deed?
After
the deed is recorded at the county courthouse, it
is then sent
to you
. With most sales the
usual time frame is approximately
ninety days. There
are exceptions to this as some
counties take longer to
process.
Can I ever sell my vacation
ownership?
Yes. Once you are the legal owner
of a vacation ownership week,
you may
sell it
at any time
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