Function

• Timeshares are basically bought outright and a title is generated in the name of the person who paid for the property. The property is then set aside for an allotted amount of days for the owner to use throughout the year and several years thereafter. Other timeshare owners also have stakes in the property and will use the property on designated dates and times in accordance with other owners' schedules. Many timeshares are bought on a system of point values which determine where the owner will stay, what type of facility they will be using and what added amenities will be offered to them such as food services, amusement park tickets and boat rentals. Some timeshare owners prefer to stay at the same facility each time they vacation or they use their points to try out new facilities around the country.
  
  

Types

• Most timeshares are offered by a certain club or organization that has its own group of condominiums, hotels, chalets or homes that it offers to perspective vacationers. Buyers then purchase a package based on levels or points that they can use to plan where and when they will vacation. Some packages are specific to one particular condo or resort while others allow the owners to choose from several different types and locations. Once buyers purchase the property, one of the pros is that they have a stake in the property and at any time can rent or sell their shares; this attracts buyers with the flexibility of not being tied down with the purchase and possibly getting their money back in the future. One of the cons is that there are additional fees when selling, renting to others or canceling dates of service; many of these fees are in fine print and are not fully explained to the new timeshare owner.
  
  

Time Frame

• The time frame for utilizing a timeshare is typically seven to 14 days, once a year; this is a standard frame that most time share regulators utilize. One advantage of one- or two-week timeshares is that many are semi-inclusive such as the Disney Beach Club Villas, which offer free transportation to and from the parks, free breakfasts, a private pool and spa as well as day care services. A drawback regarding the time frame is that if additional days are needed, steep fees and penalties are placed on the account --- sometimes up to an extra $150 a day for added time stays.
  
  

Considerations

• Buyers should consider that even though they own the property, they cannot always bring additional family members and pets to the facilities for free. Most timeshares place restrictions on how many additional guests can stay and use the amenities at the timeshare facility. Also, not all timeshares are inclusive, offering only a few added perks and benefits; even though they have on-site golfing or movie theaters, this does not mean they are free to members. Room service is only available with certain packages and most facilities offer on-site laundry services that guests can use at their own cost and convenience.
  
  

Benefits

• One of the added benefits to buying into a timeshare is swapping. Owners often can get terrific deals by finding other members who cannot make their week for their vacation and offer to swap with others just so the share does not go unfulfilled. While not all facilities permit swapping, some do while others will charge added fees and consider the swappers as guests, which in turn would not be a cost savings to the owners or the guests.