For the film, see Time Share.
A timeshare is a form of vacation property ownership. With timeshares, the use and costs of running the resort are shared among the owners. While the majority of timeshares are condominium vacation resorts, developers have applied the timeshare model to houseboats, yachts, campgrounds, motor homes and cruises.
The notion of a timeshare was originally created in Europe in the 1960s. A ski resort developer in the French Alps innovatively marketed his resort by encouraging guests to "stop renting a room" and instead "buy the hotel". The developer was successful in increasing occupancy and the idea spread worldwide. While a useful tool for many, the timeshare industry has also become a magnet for attracting illegal and barely legal methods for the sale and resale of property.
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Contents
- 1 Methods of use
- 2 Ownership
- 2.1 Types of ownership
- 2.1.1 Fixed, Floating and Rotating Weeks
- 3 Kinds of Time Shares
- 3.1 Fixed Week Ownership
- 3.2 Floating
- 3.3 Rotating
- 3.4 Deeded vs. Right to Use
- 3.5 Vacation Clubs
- 3.6 Points Programs
- 3.7 Important Note on Ownership
- 3.8 Rescission Period
- 4 Types and sizes of timeshare units
- 5 Scope of timeshare industry
- 6 Pros and cons
- 7 See also
- 8 References
- 9 External links
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Methods of use
Timeshare is a business model whereby a company buys something and sells small timeslices of it to customers. This concept is most frequently used for vacation condominiums/homes, but it has also been used for high end private jets. In general, "timeshare" refers to the former rather than the latter.
