Deed Vs. Non-Deed Timeshares

Timeshare salespeople will do whatever they can get to get you to purchase a timeshare. They’ll make false promises and sometimes ignore important details within the contract. For example, most people are unaware that there are two different types of timeshares. Not all these contracts are the same. This useful guide will help explain the crucial differences between deed vs. non-deed timeshares. It’s important to understand what type of timeshare you have, so you know how to get out of it.

Deeded Timeshares

Tons of resorts sell deeded timeshares every year. Some proponents say they’re more appealing than the alternative, non-deeded timeshares. A deeded timeshare is when a person owns a percentage of the timeshare property. They have a deed with their name on it and everything. Deeded timeshares are more appealing because most of the time, they operate under a fixed schedule. A fixed schedule is when a person gets one week of the year when they can use the timeshare. This is appealing to prospective buyers because they can make concrete vacation plans without things being so up in the air. However, if you’re under a five-year contract, your dates will not change the entire five years. You’ll never be able to switch the days you want to use your timeshare.

Non-Deed Timeshares

Non-deed timeshares are very different from deeded timeshares. People who enter into a non-deed timeshare contract don’t actually own a percentage of the timeshare property. Instead, non-deed timeshare owners lease part of the timeshare. Since people don’t actually own a piece of the property in these types of agreements, they can be a little riskier. For example, someone can get a non-deed timeshare by obtaining a membership to the resort where the property resides. Therefore, resort fees come into play, and those can skyrocket. Moreover, non-deed timeshares operate under a floating schedule. Unlike a fixed schedule where you know exactly when you can use your timeshare every year, in a floating schedule, you give the company a range of dates to choose from. The company then tells you when to come. This is unappealing to most people because it limits your ability to choose when you want to vacation.

The Drawbacks of Both

Ultimately, neither a deeded timeshare or a non-deed timeshare is a wise investment. In both instances, owners will likely have to pay insane maintenance fees. Also, the reality never lives up to the dream. Between the confusing schedules and continuing fees, the best thing you can do for yourself is not to invest in a timeshare in the first place. However, if you’re under a contract and you would like to cancel your timeshare, please contact the experts at Preferred Cancellation Services to help. Our skilled team will guide you every step of the way and make the process less daunting than it seems.