What Is A Timeshare?
Fractional ownership of a unit at a resort; most commonly for one week of usage.
There are three common types of timeshares: Fixed Week, Floating Weeks, and Points.
Fixed Week: guarantees the owners use of that same week each year (or every other year)
Floating Week: allows the owner to choose which week they wish to travel each year based on the weeks that comprise their specific floating week ownership
Points: allows the owner to choose which dates they wish to travel each year based on the number of points that comprise their points based ownership
Usage of the timeshare can vary depending on the specific ownership. The two most common forms of usage are Annual (every year) and Biennial (every other year).
Almost all timeshare resorts are affiliated with an exchange company which allows you to trade your week so that you can travel to a different resort of your choice.