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What is the difference between a timeshare interest, fractional ownership, and UDI ownership?

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What is the difference between a timeshare interest, fractional ownership, and UDI ownership?

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A timeshare interest is a one-week (seven-day) annual vacation ownership. Timeshare weeks can be fixed or flex (floating). Timeshare interests can also be points-based. Points allow maximum flexibility in vacation planning, generally enabling the owner to reserve accommodations in a number of ways: varying lengths of stays, different size units, different week numbers or seasons and a multitude of resort choices.

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