A timeshare is a property where a buyer pays a lump sum upfront, allowing them use of a specific unit for a specific duration - usually at the same time every year. These properties are commonly known as resort condominium units, where multiple parties hold the rights to use the property.
Types of timeshares
Fixed Week – the buyer owns the right to the unit on the same date every year. There is sometimes the option to rent out this block of time or trade with owners of other properties.
Floating – the buyer blocks out a time during a given period of the year which...