Deeded Property vs Right to use

Published by Pamela Syrillus on

Sharing is caring!

Before you buy a Timeshare

As a timeshare owner you probably already heard about these two terms. If you are looking forward to own one you should really know what Deeded Property and Right to use mean before signing any papers. Here we check some of the basic differences between these; and what is your contract actually offering you for your money.

First, Deeded Property means that you actually own that place for staying, i mean:  you physically own a fraction of the property, so, it is yours, and as you are the owner, even if the full resort goes into bankruptcy you will keep the place. Also, you have the voting right about the maintenance and operations within that resort, that doesn’t happen with Right to use. In other means: true property ownership. Just keep in mind, is not cheap at all.

So, what can i do with my Deeded Property” may you ask? Well, you are able to:

Sell:

Transferring your property rights to another person through a direct sale, granting the entire contract you offer on said property and also changing the owner name to the buyer.
There are several cites where you can sell or buy timeshares, but let us tell you, this might not be an easy task, thanks to timeshare controversy.

dadadadaadadadadad

Rent:

Consists on giving the opportunity to use the place of property to a user by means of a temporary rent, like the timeshare companies in general, but in a simpler way where they only pay for the staying.

Bequeath:

It is very common for property owners who are parents to transfer the property to their children so that they can take advantage of their property ownership. Although in reality there is no rule that indicates to who or how to choose an
heir, so it is up to the owner's choice.

ihfv

Giveaway:

Not a common choice, but still an option for the owners. If you want to giveaway the property for any reason at all, you can do it. Just because is your right to do so.

Know the differences, learn your rights, read your contract

Either way, when we talk about Right to use we need to be clear about the differences from Deeded Property. First of all, the most obvious distinctive is the actual ownership of the property. Right to use means you don’t own the property, this also means that there could be changes in the tax prices every year, and that you can use your vacation time indefinitely, perhaps for three years in a row and then not use it for the next three years. It doesn’t concern to others, because is not your property.
And of course, that means that you can’t sell, rent, bequeath or give away your timeshare.

Deeded Property Right to use

Looking forward to this information, if you are going to own a timeshare, please be sure to read your contract. That way you'll know yourself what kind of timeshare is for sure. That way you can have in mind your actual rights and terms of use.


3 Comments

Ruth M · March 4, 2019 at 7:26 pm

I didn’t know I can rent my timeshare, I was just paying it and I am not using it.

Eva Martin · March 7, 2019 at 5:22 pm

I am trying to sell my property cause I don’t want to pay it anymore, nobody in my family using it indeed.

Rodrigo Valdez · March 27, 2019 at 9:55 pm

Right to use, sounds look the idea, I am interested in getting a property like this.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.