You need to know – What is a timeshare?

YouNeedToKnowWeb500A timeshare provides the right to use a unit within a condominium for a specific time period each year

There are 2 types of timeshares:

  • Interval ownership is fee simple ownership and contains the same rights as any other property conveyed by deed for the specific time period each year
  • Right-to-use is a long term leasehold interest, usually 20 years to 40 years that allows for use of the property for the specific time period each year

A year is often divided into 50 weeks and the right to use each weekly period is sold with the remaining 2 weeks kept for maintenance and refurbishment