Who Are The Current Owners of Timeshares?

Timeshares are codominium type units, built or purchased by a developer, who sells time-period stays in these units.

Buyers purchase particular units as well as times of the year when they can use them as their own properties. In other words, purchasing a timeshare will make you the owner of that unit, every year, during the period you paid for. Sometimes people choose to exchange timeshares, to avoid monotony and be able to vacation in other great places too.  They will often look to sell my timeshare now programs, if they are not using them on a regular basis.

There are also non-deeded timeshares, which means that the owner  buys a club membership, a lease or a license to use the property for a stated number of years and for a specific period each year. Under a lease timeshare arrangement, the purchaser does not get ownership interest in the  property. After using the timeshare for the period specified in the contract, the title to the property reverts to the developper.

In some states, timeshare arrangements are considered pieces of real estate, which means that they are also subjected to real estate law. Timeshares are inherited by children from their parents and they can take over the contract or write a  disclaimer of interest in their timeshare properties.

 

 

 

 

 

 

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