If you have ever been to a timeshare presentation then you have probably heard enough convoluted explanations to turn you off the entire idea for good. Surely something that sounds so complicated can't be that good for your pocket book.

The truth is that understanding timeshares and their features is not that complex. In essence timeshares are available in three different categories - simple or deeded property, leasehold timeshares and right to use timeshares.

The "fee simple" timeshare is also called a deeded timeshare and is the most straightforward transaction when it comes to purchasing these types of vacation resort units. This means that the buyer is acquiring an actual share of ownership in the resort and is given an actual deed. This type of property can actually be passed down to your descendents like any other type of property. They can also be rented or sold and many time share owners make a big profit by renting out their time share units if they are not able to make it during their scheduled unit of vacation time.

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There is another type of ownership known as the right-to-use certificate. These are non-deeded timeshares. They are also known as interval timeshares and make you feel more like you are part of an exclusive club. The purchaser owns the right to use the property for a specific period of time but doesn't own any real property. Most of these types of non-deeded timeshares also offer generous exchange programs that allow you to switch your unit of time at one vacation resort with another.

A third type of timeshare, not generally available in the United States but wildly popular in other countries is the leasehold timeshare. This type of timesharing agreement expires after a certain number of years or after you have used the resort or vacation property a certain number of times. The average length of time for a leasehold agreement for a time share is about thirty years.

The majority of timeshares sold are known as fixed week purchases. This means that you are sold a slot during a certain time of the year that is yours forever. For instance if you buy a fixed-week timeshare in Aruba for the second week of February then that is your for life every year. However fixed week timeshares work best for individuals who have a consistent schedule and can guarantee their vacation time every year. One option for individuals who cannot make it to their fixed week timeshare is to exchange it for another time with another timeshare owner or to rent it out. Many timeshare owners make a profit renting out their timeshares.

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If you want more flexibility then many timeshare resorts offer a floating week type deal. This gives owners the choice of one week during a certain season to enjoy their timeshare as long as they are well organized and able to reserve their holiday spot months in advance. The drawback here is that getting the spot you want can be a little bureaucratic and competitive especially if you want to enjoy the timeshare during a high-demand part of the holiday season.

You might also consider buying a fractional timeshares. This type of timeshare is associated many with gated communities and residencies that are attached to certain clubs such as golf clubs. A good example is the Ritz Carlton Residence at Aspen Highlands.

Yet another innovation in the way timeshares are sold are the points system that some vacation resorts are using. Instead of purchasing weeks as units you purchase timeshare points. These points can be split up into weeks or three day long weekend type stays as you find necessary. This type of system also gives individuals with limited schedules more opportunities to travel without having to plan too far ahead of time.

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