8/20/2018 0 Comments How Do Timeshares Work?The concept of "time sharing" is often found in areas of tourist interest where people want to have the opportunity to go for their vacation. It was imported from the IT domain and its original meaning is "a technology that allows multiple users to simultaneously access a central computer via distinct terminals." The import of this concept in the law field was made to designate "the ownership or joint ownership of a property, by several persons, who occupy it one at a time, for specified periods". A timeshare is therefore a divided form of ownership, normally having as object condominium holiday or recreational property, and where the corresponding rights belong to more than one person, each of whom is entitled to use the property for predetermined periods, during the year. Thus, instead of buying a week in a holiday establishment each year, the timeshare system offers the possibility of having your own property for your vacation. There are fees that are required quarterly as long as you own your timeshare. It's good to note that getting out of your timeshare can be accomplished by consulting firms like Timeshare Termination Team. Although the object of timeshare property is typically a condominium residential complex, developers have applied the timeshare concept to other types of properties such as yachts, campsites or recreational car parks (“Recreational vehicle parks"). In fact, in the United States of America, the concept of timeshare is represented by any holiday or leisure facility or property.
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