What Is a Timeshare?
Timeshare ownership entails payment of an upfront sum plus yearly maintenance fees. Depending on the timeshare arrangement, owners either own the rights to a specific, fixed week (say, January 1-7 every year) or the rights to a floating arrangement, where you can visit for a week within a period of time each year (say, one week between the months of June and August every year).
Fixed and floating timeshare arrangements can either be deeded or non-deeded (also known as right-to-use). Deeded timeshares are considered real property that can be sold or passed on to the next generation. Non-deeded or right-to-use timeshares function more like leases, where an owner can use the unit for a specified number of years.