Timeshare FAQs

Q - Deeded vs. RTU (Right to Use) A - Deeded Property: True property ownership with deed recorded in the county where the property exists. This type of property has the same rights of ownership accorded to it as other deeded real estate. The owner may sell, rent, bequeath, or give away the property. RTU: A lease, or right to use ownership grants the lessor the right to use the property for a specified period of time; usually from 20 to 99 years. During the right-to-use period, the owner may rent, transfer, or bequeath the remaining years of their right to use property. __________ Q - What is a Lockout Unit? A -Typically, a unit which has the capability of being divided to create two separate but complete sections. If an owner buys a lockout unit, he can divide the unit and either stay in one half of the unit and rent the other half or rent both halves to different parties. ___________ Q - What is Odd / Even Year Usage? A - Timeshare ownership usage every other year--some odd-numbered, some even. The ownership of this type of interval is valued at one-half the value of a full ownership property since the use is restricted to one-half of the annual usage. __________ Q - What are Maintenance Fees ? A - Maintenance fees are established and collected by the Homeowners Association or Resort Management Company to maintain the property, pay insurance, utilities, refurbishing and taxes. These fees vary from resort to resort.

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