It worked well, and the idea spread throughout the world.1
There are two main types of timesharing plans: deeded and non-deeded. With the deeded type, you buy an ownership interest in a piece of real estate. In the non-deeded plan, you buy a lease, license, or club membership that lets you use the property for a specific amount of time each year for a stated number of years. With both types, the cost of the unit is proportionate to the season and the length of time you want to buy.2
Before You Buy
As with any major purchase, you need to understand what you are getting before you sign any papers or pay any fees. The general information should be accompanied by careful analysis and perhaps even professional advice that concerns all aspects of a particular timeshare purchase.
Before purchasing a timeshare consider the following points.3
-> A major reason people buy timeshares is for the convenience of having prearranged vacation facilities. Therefore it would be wise to determine whether you will be able to use the timeshare facility regularly. When evaluating a timeshare with units in several locations, consider whether sufficient units are...