* What are the different types of timeshares available?
Timeshares are available in two basic types ‘fee simple’ and ‘certificate.’ Fee simple is similar to the ownership of one’s home, while certificate is similar to a lease like renting an apartment. Another term for a fee simple ownership is deeded timeshare property. Fee simple ownership is like owning your own home and you receive a deed to the timeshare. On the other hand, certificate ownership, also known as right-to-use, gives you the ability of owning a timeshare for a specific amount of time, much like renting an apartment, only much longer. There are also some different consumer choices.
Examples of these timeshares include:
Fixed week
Floating time
Points
Multi-location
The fixed week timeshare is the most familiar form and the oldest kind of timeshare. This works by purchasing one or more weeks to be used at the same time each year at your resort from which the weeks are numbered 1-52. Once you have purchased the number of weeks you will use the resort will guarantee that they will be waiting for you at that time.
A Floating...
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