Time share Ownership

Hi,

There are different types of time shares based on ownership rights and usage rights. Following are the different types available -

Fixed week time share - In this type of time share, each buyer gets to own the rights to the property for a specific period each year.

Floating time share - In this type the buyer chooses the time to use the time share. This type of time share is not contracted out as in fixed type.

Right to use time share - Here the buyer actually rents the property for specific period each year and is not owned by the individuals.

Points Club - Here different groups of time share owners take part in a points sharing club. The points are utilized to use timeshare property of the group members based on reservations.

God bless you.

For MortgageFit,
Samantha

Can I sell a timeshare if required?

Hi,

Normally you will be able to sell it but you shouldn't expect to make profit by selling a timeshare.

Timeshare should not be considered as similar to other real estates where you can expect the value to rise with time.

God bless you.

For Mortgagefit,
Samantha

I wouldn't count on being able to sell a timeshare, paying somone to take it off your hands is more likely to happen. Check the websites that handle timeshre resells from people who don't want them anymore. There are hundreds/thousands for sale and a large % of them are way (less than half) below what they originally paid for it.

Hi,

Welcome to MortgageFit Forums Matt.

Here we try to help the mortgage community by sharing our knowledge and experience and I really appreciate your participation.

Thanks,
Jerry