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.

Wyndham Vacation Ownership (Wyndham timeshare) is moving in a new direction with a marketing and sales agreement with the Towers on the Grove LLC for a North Myrtle Beach timeshare property. The condo and timeshare units include studio, one, two, and three-bedroom fully furnished units, most with private balconies and many with ocean views.

Towers on the Grove is a beachside condominium for which Wyndham Vacation Ownership has become the exclusive sales and marketing agent. The arrangement will start with 137 units with 50 timeshare units more to be added over the next three years. Wyndham Consumer Finance will service all of the consumer loan originations associated with the sale of these 50 timeshare units. The consumer loan originations that occur for the other 137 timeshare units will be funded by Towers on the Grove South, LLC.

These 187 timeshare units sold or acquired by the company will operate as part of the CLUB WYNDHAM PLUS portfolio of vacation ownership resorts. The Towers on the Grove includes a total of 232 units, of which some 45 are wholly owned as condos. Wyndham Vacation Ownership is now managing the entire property and commenced timeshare sales and timeshare rentals there last month.

Wyndham timeshare already has a strong presence in the Myrtle Beach, South Carolina vacation area with Wyndham timeshares available at Myrtle Beach at Westwinds Timeshare.

In March of this year, Westgate timeshare founder and CEO, David Siegel, put a number of the company’s assets up for sale. Knowing that he and his wife Jacqueline have suspended construction on the mansion they were building in Windermere, just outside of Orlando, Florida, many speculated that the home might be the next asset to go.

Listed at 66,800 square feet in size, the Siegel’s uber-mansion was intended to be the largest private residence in the United States. Occupying roughly 10 acres of real estate on pristine Lake Butler, the home was planned to include 13 bedrooms, 10 satellite kitchens, 23 bathrooms (each with spa tub), 7 half-baths, a ballroom, an indoor roller-skating rink, a bowling alley, and a movie theater patterned after the Paris Opera House with a second theater in the children’s wing of the home. On the grounds, which include a quarter mile of private beach, there is a large gatehouse with residence apartment, a baseball field, three swimming pools, two tennis courts, a boathouse, a two-story wine cellar, and a rock grotto with three spas located behind an 80-foot waterfall. The master bedroom alone is planned to be some 8000 square feet in size.

Although the house is not completed, it has been under construction for three years. The Siegels are asking $100 million for the house “as is” or $75 million and they will complete the construction for the buyer, which implies that the house is approximately three-quarters completed.

Yes, I know what you must be thinking. It’s a shame this mindboggling house is located within residential-only zoning, because it sounds like it would make an incredible Westgate Florida timeshare resort!

Click here to see the real estate ad as featured in the Wall Street Journal.

Other Westgate timeshare developer news from The Timeshare Authority:
Westgate Timeshare Lightens the Load, Selling Select Assets
Westgate Timeshare Founder’s Spouse Joins in the Buzz about Elin and Tiger Woods
Orlando Timeshare Developer Played Landlord to Michael Jackson

Photo credit: Perspective Magazine Blog for Saturday May 8, 2010

Interval International timeshare exchange has added the Mayhills Resort in the Gangwon Province of the Republic of Korea (South Korea) to its inventory of timeshare exchange properties.

The timeshare resort, located approximately three hours from Seoul in a forested setting in Taebaek, includes 357 timeshare units, from studios, to one, and two-bedroom timeshares. Most of the timeshare units have a kitchen, balcony with mountain views, and cable or satellite television. The Mayhills Resorts timeshare also includes a fitness center, family steam room, sauna, two on-site restaurants, a game room, and a convenience store.

Near to this Korea timeshare resort, vacationers can enjoy cross-country and downhill skiing, tennis, golf, bike trails, water sports on the beautiful lakes, several theme parks, and a children’s playground. All of these attractions are easily accessible from National Highway 38.

Joe Hickman, Interval International’s executive director for Asia Pacific, describes the resort as, “…close to Kangwon Land Casino, Korea’s largest with more than 100 game tables and 960 slot machines and video games.” Hickman explains, “We are delighted to welcome Mayhills Resort to Interval’s vacation exchange network.”