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Timeshar cancellation
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timeshare cancellation

Fractional Ownership Vs Timeshares

In the U.S. there are 1,580 resorts and 204,100 units in those resorts as of 2019. Most of us are aware of the term “timeshare”, but fractional ownership is less familiar. While both can be considered a form of shared ownership, there are significant differences, so let’s compare them.

Timeshares

A timeshare gives owners the right to use part of a property during specifically designated times. The buyers might purchase one or more weeks and all buyers have the same rights but the title remains with the property owner. Essentially, a timeshare owner owns the right to use something but doesn’t have a deed, which is why timeshare cancellation often becomes something considered by owners.

Fractional Ownership

Fractional ownership is a purchase made by several buyers, maybe 6 – 12 that gives each buyer an equal part of the title. Each buyer has access to the property for some time but benefits from not buying the entire property or paying all of the maintenance and taxes. The period for use by each owner could be up to 5 – 6 weeks, depending on the number of owners.

Equity Value

The biggest difference between a timeshare and fractional ownership is that a fractional owner has equity in a valuable asset. If the asset value appreciates, so does the equity of each owner. Should the owners wish to sell the property, a capital gain would result.

A timeshare is ownership of a right to use the property but not ownership of it. If the resort value increases, the value of the timeshare does not. Were the resort to change hands, no value would be realized by a timeshare owner. Timeshare cancellation is simply eliminating a contract of no tangible value.

Control

With a timeshare, management and decisions reside with the project owner or operator. Timeshare owners have no say in maintenance fees, management fees, or even if the pool gets repaired. A fractional owner, sharing ownership of the property, also shares control. That owner has a say in what happens. A fractional owner will never have to contemplate something like a timeshare cancellation.

Timeshare owners are often considered guests when visiting the resort. Fractional owners visit their properties as an owner of a valuable asset. It’s always better to be the owner than the guest.

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Our primary service is our title transfer service. This service helps timeshare owners by legally transferring their timeshare property title out of their name. Once the transfer is complete, all financial liability and obligation is removed.

Timeshare owners that still have a mortgage on their timeshare may qualify for our Timeshare mortgage cancellation which is the most successful timeshare exit strategy available. Throughout this process we work directly with you to cancel your timeshare with the resort where you purchased it.

Please call our office today for a free consultation

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Every clients situation is unique and therefore the costs vary.

After your consultation we will give you specific cost and a guaranteed time of completion in writing for your exact situation.

We provide a 100% written guarantee and have earned glowing testimonials.

Every clients situation is unique and therefore the costs vary. After your consultation we will give you specific cost and a guaranteed time of completion in writing for your exact situation.

We provide a 100% written guarantee and have earned glowing testimonials.

A recession period is outlined in your timeshare agreement and is usually 3-10 calendar days where you can cancel your timeshare contract. Each state and resort have different guidelines for this, which are outlined in your contract. If you happen to be in your recession time period, you can cancel your timeshare. Be aware that timeshare companies will often make it very difficult to contact them and cancelling often requires filling out paperwork and mailing it in.

If you are in your recession period, act quickly. You can also contact our team for help cancelling your timeshare.

Call our office today

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Timeshares are difficult to cancel due to the nature of the contracts that timeshare companies and resorts use. Recession periods are generally very short and difficult to navigate. Writing a letter to cancel your timeshare is often lost or not received by the resort, or that is what they’ll say.

Our team of experts know how to navigate the process and guarantee your freedom from your timeshare.

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