What is a timeshare? Is it the same as vacation ownership?
Answer- Timeshare and vacation ownership are often used as interchangeable terms. Timeshare may be purchased through deeded property ownership, right-to-use or a points-based program. Owners purchase a residence, usually in one-week increments, within a “fixed” or “floating ” time frame. This allows owners to schedule their vacations within a specified week or season every year. Vacation ownership may also be used to describe the three main options of shared use: timeshare, fractionals, and private residence clubs. The Grand Lodge on Peak 7 is a timeshare resort that sells deeded real estate in one-week intervals, and offers both fixed and floating ownership options.
