Deeded Timeshare: a Closer Look at the Pros and Cons

While deeded timeshare may not be as prevalent as it once was, there are still many timeshare owners who own their timeshare by deed in contrast to vacation club membership or Right To Use timeshare ownership. With deeded timeshare ownership, timeshare owners actually own a percentage of their timeshare unit and also may have shared ownership of the timeshare resort’s commons areas. In contrast, Right to Use ownership is much more like a lease agreement, granting the timeshare owner the right to use the property at a certain time, and typically for a predetermined number of years.

Deeded timeshare gives the timeshare owner many rights, but along with those rights may come certain responsibilities. In the US, deeded timeshare is typically owned in perpetuity. Most deeded timeshare is also transferable, meaning that the timeshare owner has the right to give the timeshare away (if it is fully paid for or the recipient takes over payments), to sell the timeshare, or to leave it to his or her heirs in a legal will.

But timeshare owners who have deeded fee interest ownership in a timeshare may also be responsible for any liabilities that arise in conjunction with the timeshare resort. For example, if someone is injured at the timeshare property and files a lawsuit naming the resort, the responsibilities can extend to the deeded owners.

Timeshare Owners Deserve Answers

Timeshare owners don’t always fully understand what they own. This lack of understanding can give rise to problems or at the very least, limit the timeshare owner’s enjoyment of his property. If you own timeshare, seek to be an educated timeshare owner. Ask questions of knowledge timeshare experts, such as the timeshare resale and rentals specialists at Sell My Timeshare NOW. Become a part of a timeshare owner’s consumer group, like the National Timeshare Owners Association. Read up on the subject, including Lisa Ann Schreier’s classic, Timeshare Vacations for Dummies.

Timeshare resorts sometimes look to convert deeded timeshare ownership to a points based or right to use system. If this happens at your resort, it’s good to know there are places you can turn for answers.