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Deeded Vs Non Deeded Timeshare
There are two different types of timeshare contracts you can purchase: a deeded ownership and a Right To Use timeshare. With a deeded timeshare, you own an actual fraction of the property through a deed. Right To Use (RTU) gives you the right to vacation at the property. An RTU contract typically has an end date, where a deeded contract is for life.
Timeshare Deeded Vs Right To Use
When considering a deeded vs non deeded timeshare, you’ll have to think about what makes the most sense for you. Do you want a say in potential resort maintenance? Go with a deeded ownership. Do you only want to visit your timeshare property for a set number of years? A Right To Use timeshare makes more sense for you.
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Deeded Timeshare
Deeded ownership is like traditional real estate ownership in the sense that once you purchase the timeshare, you own it for the rest of your life or until you sell it. At resorts that sell deeded timeshares, once all the units and weeks have been sold, an HOA typically controls the operations of the resort on behalf of all the individual owners. A deeded property timeshare can also be rented, given away, bequeathed to heirs, or sold at the owner’s discretion.
Right To Use Timeshare
By contrast, what is RTU timeshare? Right To Use (RTU) ownership is a system in which you purchase the right to use a specific unit or week at a resort for a set period of time (often between 10 and 50 years). The expiration date for your RTU timeshare is written into your contract, at which time you are no longer legally responsible for the timeshare. With the right to use system, control of the resort never passes to an HOA or other management group; instead, it remains in the developer’s control.
Copyright 2017 © Michael Morgan and Associates – All Rights Reserved. This website, or any portion of content contained therein, may not be reproduced or used in any manner whatsoever without the express written permission of the Michael Morgan and Associates. Disclaimers: A number of references are made in this website to specific timeshare developers. All such references in context constitute our opinion with respect to the merits of a particular product or service offered by the developer so referenced. Previous success in a given case or cases does not guarantee favorable results in any other case or cases. This information is for guidance only. Nothing within this website constitutes legal advice.