Pro Player Timeshare Resale
Timeshare Information
Types of Timeshare Properties
Timeshares usually are sold in weeks either yearly, or every other year. There are
many different programs that dictate how you can use your timeshare. We are going to
cover these topics.
Fixed Week
Fixed week means your week, whether it be yearly, or every other year, is always on a specific
week each year. There are 52 weeks in the calendar, and you will see the week talked about as a
number between 1, and 52. You can see our Timeshare calendar here to see what time your
week falls on for any given year. The nice part of a Fixed week is, you are guaranteed to have
that week unlike the float week, which we will discuss next.
Floating Weeks
Usually, there is a period of the year that your float is valid. This requires you to make a
reservation for your resort for a week within the float period. If you do not make your reservation
in time, and all the units are taken for a week that you are looking for, you will be out of luck and
have to look at a different week. So when you get a resort with a floating week, we suggest
making your reservation in advance.
Rotating Weeks
Some resorts have gone to a Rotating week, which rotates the week you have each year based
on a fixed year schedule. Say you are on a 3 year rotation, this means if you have week 9 on the
first year, the second year you will have week 26. The third year you would have week 43, and the
fourth year it would go back to week 9.
Deeded or Right to Use
With Deeded use, the programs divide ownership of each unit into specific week increments. As
the buyer, you are purchasing a fractional ownership of the resort for the unit specified. With a
Deeded purchase you would receive a deed conveying to you ownership of a given week and unit.
The deed is recorded with local governmental agencies such as a County Recorder or Assessor.
If your property has a float week, or float unit, your deed while show a 1/52 ownership at that
resort. A Deeded Resort can be sold, given away, or bequeathed to your heirs, just like a typical
property. When a timeshare project is established, the developer will create a set of legal
documents describing the operation of the resort and the timeshare program. This paperwork is
referred to as the "Program Documents". Within this document there are usually forms of Codes,
Covenants, and Restrictions (CCR) that are binding to all owners at the properties, this includes
any subsequent purchasers.
Right to Use (Leased)
With a "Right to Use", also referred to as Leased Resort, you are given the right to use the
property for a specified number of years. At the end of that time the usage reverts to the property
owner. Usually you can sell, donate, or bequeath a "right to use" contract. However the expiration
date will remain the same. Many countries prohibit, or severely limit foreign ownership of real
estate. For this reason, most out of country resorts have been forced to use this method.
Major differences between Deeded and Right to use
The biggest difference between Deeded and Right to use is the ownership of the property.
Deeded means you physically own a fraction of the property, while Right to use only gives you the
right to use the property. If the developer goes into default or goes bankrupt, with a deeded
property you would still own your fraction of the property. However with a right to use, you never
had an ownership of the property and would lose the ability to use the program in most cases.
Another major difference is the control the timeshare owner has at the resort. With a deeded
property the owner has a voting right to maintenance and operations with that resort. The right to
use properties however has little to no control over many things including increasing annual fees,
or imposing special assessments. With a Right to use the developer has the control to raise
annual fees and change the rules of the resort at anytime.
Timeshares usually are sold in weeks either yearly, or every other year. There are
many different programs that dictate how you can use your timeshare. We are going to
cover these topics.
Fixed Week
Fixed week means your week, whether it be yearly, or every other year, is always on a specific
week each year. There are 52 weeks in the calendar, and you will see the week talked about as a
number between 1, and 52. You can see our Timeshare calendar here to see what time your
week falls on for any given year. The nice part of a Fixed week is, you are guaranteed to have
that week unlike the float week, which we will discuss next.
Floating Weeks
Usually, there is a period of the year that your float is valid. This requires you to make a
reservation for your resort for a week within the float period. If you do not make your reservation
in time, and all the units are taken for a week that you are looking for, you will be out of luck and
have to look at a different week. So when you get a resort with a floating week, we suggest
making your reservation in advance.
Rotating Weeks
Some resorts have gone to a Rotating week, which rotates the week you have each year based
on a fixed year schedule. Say you are on a 3 year rotation, this means if you have week 9 on the
first year, the second year you will have week 26. The third year you would have week 43, and the
fourth year it would go back to week 9.
Deeded or Right to Use
With Deeded use, the programs divide ownership of each unit into specific week increments. As
the buyer, you are purchasing a fractional ownership of the resort for the unit specified. With a
Deeded purchase you would receive a deed conveying to you ownership of a given week and unit.
The deed is recorded with local governmental agencies such as a County Recorder or Assessor.
If your property has a float week, or float unit, your deed while show a 1/52 ownership at that
resort. A Deeded Resort can be sold, given away, or bequeathed to your heirs, just like a typical
property. When a timeshare project is established, the developer will create a set of legal
documents describing the operation of the resort and the timeshare program. This paperwork is
referred to as the "Program Documents". Within this document there are usually forms of Codes,
Covenants, and Restrictions (CCR) that are binding to all owners at the properties, this includes
any subsequent purchasers.
Right to Use (Leased)
With a "Right to Use", also referred to as Leased Resort, you are given the right to use the
property for a specified number of years. At the end of that time the usage reverts to the property
owner. Usually you can sell, donate, or bequeath a "right to use" contract. However the expiration
date will remain the same. Many countries prohibit, or severely limit foreign ownership of real
estate. For this reason, most out of country resorts have been forced to use this method.
Major differences between Deeded and Right to use
The biggest difference between Deeded and Right to use is the ownership of the property.
Deeded means you physically own a fraction of the property, while Right to use only gives you the
right to use the property. If the developer goes into default or goes bankrupt, with a deeded
property you would still own your fraction of the property. However with a right to use, you never
had an ownership of the property and would lose the ability to use the program in most cases.
Another major difference is the control the timeshare owner has at the resort. With a deeded
property the owner has a voting right to maintenance and operations with that resort. The right to
use properties however has little to no control over many things including increasing annual fees,
or imposing special assessments. With a Right to use the developer has the control to raise
annual fees and change the rules of the resort at anytime.
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