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 ?
(16) Parents who frequently time-share tend to pay child support and parents who do not frequently time-share tend not to.
Craigendarroch Suites start from PS3700 for a studio suite on a weekly time-share basis.
[ILLUSTRATION OMITTED] 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
We were the first in the time-share industry to run national commercials during prime time and the first in the industry to sell timeshares in a retail environment.
When I seemed unconvinced, Hornak brought in his boss, Robert Rivard, a second-generation salesman whose mother had sold time-shares in Florida.
According to statistics from ARDA, a total of nearly 1.8 million households own time-shares in the United States, a rate that is growing by roughly 9 percent each year.
One is the traditional ownership interest as evidenced by a deed, title insurance, and so forth, which is known as a time-share estate.
"Vacation ownership products (including time-shares) are a great vehicle to get more experiences for your dollar," says Howard Nusbaum, president and CEO of ARDA, a Washington, D.C.-based trade association representing the timeshare industry.
STAFF at a luxury Scottish time-share development turned down a delighted client's offer of a free Caribbean holiday.
On the surface, time-shares sound like a win-win situation: You save money in the long run while providing higher-quality accommodations for your family.
Hard on the heels of his Toys 'R Us deal, the unflappable Bruce Eichner is bringing time-shares to Midtown Manhattan.
The time-share industry has experienced dramatic changes over the last 20 years.