What is the difference between a deeded timeshare property and a right-to-use property?
Deeded timeshares are treated just like traditional deeded real estate. In other words, once you have purchased the timeshare, you own it in perpetuity. It is yours to use, give away, rent out, sell or leave to your heirs. When purchasing a deeded time share resale, be sure that the new deed in your name is recorded in the county where the vacation property is located. Right-to-use timeshares (RTU) are commonly found in locations where deeded ownership of vacation properties is not permitted by law (primarily outside the United States). Instead of a deed, the owner is given a contract very similar to a lease which defines a set time during which the owner has claim to the property. RTU contracts commonly encompass time frames ranging from 20 to 99 years. If you are thinking of purchasing a RTU resale time share, be sure you know how many years of usage are left on the contract before initializing a sales transaction.
