time-sharing and time-shares

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time-sharing and time-shares

A temporal division of possessory rights in real property,typically allowing one the use of resort property for a limited time each year.“Owners” may have deeded rights to the real estate with fixed or floating periods of possession,or they may have only a license or other such right-to-use,but no ownership.The rights may be limited in duration,expiring after 5 or 10 years.Many time-share communities offer exchange programs,allowing one to use their time at a different resort than the one of their purchase. Besides the original acquisition price,owners are responsible for their share of the annual dues and unusual expenses.The resale market is limited, so the economic evaluation of a decision to buy should not depend on the ability to recover the purchase price, much less a profit, at some time in the future.

There is currently some regulatory confusion among states and the federal government regarding exactly how time-share interests should be treated. Before developing a time-share project, one should check with local authorities to see if any of the following are required:securities registration with the state Securities Department, subdivision platting, condominium registration, and/or real estate license needed for sales of interests.

References in periodicals archive ?
Our viewers will really enjoy learning the latest about time-shares and how Endless Vacation Rentals has revolutionized the time-share industry,” says Benji Nadler, Associate Producer of The Balancing Act airing on Lifetime TV.
Craigendarroch time-share owners are able to buy weeks in Hilton Grand Vacations Clubs around the world, including the US, Canada and Mexico.
Craigendarroch Suites start from PS3700 for a studio suite on a weekly time-share basis.
People may have had a lot of bad experiences with time-shares, so we had to remind prospects that we have a long history of providing superior quality and [a] record of trust.
Name Jim Lews Title President, Disney Vacation Club Location Celebration, Florida Age 47 Power Play Increased Disney Vacation Club time-share ownership from 150,000 to 350,000 members
Typical scams include time-shares that don't exist, luxury apartments that you sign up for--only to discover you've been assigned a more modest place--and renovation charges that go to projects unrelated to the time-share owners.
In January 1992 Aoki Realty Corporation of Florida bought out its original partner and invited Westin Hotels & Resorts to manage the project as a time-share vacation resort.
One is the traditional ownership interest as evidenced by a deed, title insurance, and so forth, which is known as a time-share estate.
Some time-shares restrict the renter to a specific time frame and a specific vacation time.
STAFF at a luxury Scottish time-share development turned down a delighted client's offer of a free Caribbean holiday.
With half Eichner's hotel being turned into time-shares, the 500 rooms could bring conservatively $5 million for each week.
Consumers purchased time-share interests or intervals in a particular resort on a "right-to-use" basis, akin to a contract right for a stated period of time (e.