Right to Use Timeshare Contracts
After deeded timeshares, right to use timeshare contracts are one of the most popular forms of vacation ownership . However, right to use (RTU) timeshares, and their agreements, operate a bit differently from traditional ownership. If you own a RTU timeshare or are considering buying one, take a moment to learn more about their contract terms and conditions.
What is a Right to Use Timeshare?
Right to use timeshares are exactly as they sound—you purchase the right to use the timeshare during the period on which you agreed. Unlike deeded timeshare contracts, you do not actually own any part of the property. Instead of a deed or title, you are bound to the timeshare by the terms of your contract. A RTU timeshare will have an expiration date. This expiration date will outline the completion of your contract. At the end of the contract you may be able to re-sign and keep your week. Or, you can opt-out and release yourself from any further obligations. This may be a great option for someone who wants to enjoy a timeshare but cannot make the life-long commitment that comes along with buying a deeded ownership. However, keep in mind, the terms of these timeshare contracts can range from twenty to ninety-nine years. So, be sure to understand when your timeshare contract expires before you sign it.
During the length of your contract you are responsible for the same costs as someone who owns a deeded timeshare. You will have to pay annual maintenance, special assessment fees, and taxes.
What Can You Do
Even though you do not fully own the timeshare, if you are unable to keep or afford your member you still have options to get out. During the time of your active contract, you are able to sell or rent out the property as needed. Since you technically do not own a deed to your RTU timeshare, unfortunately they are not available for timeshare donation. Our timeshare specialists will help you get a better idea of your options and get you out of your contract easily and with as little hassle to you as possible.Simply call us at 1-855-781-0081 for a free consultation.
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