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Fractionals and Related Shared Ownership Formats - Essay Example
In the search for new and enhanced forms of vacation housing and amenities, several types of arrangements have emerged over the past few decades. Each of these types has advantages and disadvantages, and some are quite complex in nature. They generally represent various approaches to fractional real estate…
Timeshares first became popular in the 1980s with people searching for very attractive and even unique vacation locations which would still be affordable for their families. The genius of the timeshare is that it allows the purchaser to own his or her vacation residence for only the part of each year during which that vacation may be taken. For
To meet the important need for variety of vacation locations, many timeshare providers have exchange arrangements with other timeshares all over North America or even all over the world. Thus, by purchasing a timeshare in a particular resort location,
if the unit is available for that additional period. Some offer the opportunity to use other resorts in place of the home facility as an extra-cost option. Various other upgrades and enhancements may also be offered, and sometimes even included in the base price, particularly if the prospective timeshare buyer is hesitating at making a commitment.
What is virtually universal with timeshares are additional fees and charges which are required in addition to the basic investment to buy fractional ownership of a part of the facility. Maintenance fees are mandatory for the upkeep of the resort, and can be quite substantial. There may be separate charges for non-routine maintenance such as the