A timeshare property is a form of ownership or more so, a right to the use of a property, or the term used to describe such properties. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time (typically one week, and almost always the same time every year) in which they may use the property. Units may be on a part-ownership or lease/”right to use” basis, in which the sharer holds no claim to ownership of the property.
Unfortunately, not everyone is tickled pink with their Timeshare property purchases. The good that should come out of this will be property owners who are educated will be able to make smarter buying decisions in the future, leading to less financial loss and hardship incurred by misleading sales and promotions that don’t explain the future value of timeshares.