If you’re considering purchasing a timeshare, it’s important to be aware of the member restrictions that may be placed on your use of the property. While timeshare membership does offer some flexibility in vacation planning, there are many terms and conditions associated with a timeshare membership program which includes various restrictions on property use.
Understanding all of the terms and conditions and member policies is essential to making sure that timeshare ownership is right for you. An experienced timeshare attorney can help you navigate the complex world of timeshare contracts and make sure that you understand all of the benefits and restrictions that apply to your use of a timeshare membership club. Let’s start by examining some of the key restrictions that may be placed on your timeshare use:
Who Can Use The Vacation Property?
One of the most important things to consider when purchasing a timeshare is who will be able to use the vacation property. In some cases, the timeshare may only be available for use by the purchaser and their immediate family. In other cases, there may be restrictions on who can use the property, such as requiring all guests to be over the age of 21.
When Can The Property Be Used?
Another important consideration is when you’ll be able to use the property. Typically, timeshare properties are available for use during specific times of the year, and members are generally allotted a certain number of days that they can use the property each year. It’s important to make sure that the timeshare property will be available when you want to use it, and that you’re comfortable with the number of days that you’ll be able to use each and every year. These terms may change over time, so it is important to stay up on changes to membership use policies.
Where Can Timeshare Be Used?
Another issue to consider is the location of the vacation club or timeshare properties. In certain situations, timeshare units may be restricted to use at a single resort or area. This may be a good option if you have a favorite vacation spot that you visit each year, but it’s important to make sure that the timeshare property will be accessible when you want to use it. If it isn’t, you may have to take a less preferable time or location, which can add further delay of vacations and expense.
How Can A Timeshare Be Used?
A final but important consideration to purchasing a timeshare is how prepaid vacations can or will be used.
In some cases, a timeshare may only be available for personal use, and you (a member) may be restricted (no commercial use policy) on renting your week out. You may however be able to exchange your timeshare week for another week at a different location, but you’ll have to work within separate timeshare exchange guidelines and pay additional transaction fees.
Can The Timeshare Be Sold?
If you’re thinking about buying a timeshare, you’ll also want to consider what will happen to the vacation membership if your plans change in the future. Timeshares that are sold by the developer will average around twenty five thousand dollars but in most cases, these vacation memberships have little to no resale value in the secondary resale market. While some deeded properties can still be sold, there may also be some restrictions on who a timeshare can be sold to. You may also have to pay a resort transfer fee to the property management company in advance of selling your timeshare.
There are usually no exceptions to member policies. While all timeshares have various use restrictions, a failure to comply with the terms and conditions in your timeshare contract can result in the loss of your reservation or suspension of membership. With notice, members and guests at various resorts may be required to pay a mandatory resort fee. These fees can run between $20 to $50 a day and are applied to cover member access to resort amenities, activities, housekeeping and other onsite resort programs.
As you can see, it’s critical to comprehend all of the fine print and limitations that may apply to your timeshare property before you buy it. In most cases however the terms relating to vacation club member use are not printed for review in advance of purchase, but rather saved on a disc, thumb drive, or located on the company website in a difficult-to-find location.
If you’re thinking about buying a timeshare, make sure you ask about the terms and conditions of membership well ahead of purchase so that you know exactly what you’re signing up for. Pay close attention to the restrictions on use, as they can vary significantly from one timeshare company to the next.
Before making a timeshare purchase, be sure to consult with a timeshare attorney who can review information with you regarding member use restrictions at the timeshare vacation club you’re considering. A timeshare attorney can also help you understand other terms and conditions of your timeshare contract proposal, so that you can make an informed decision about whether or not a timeshare is right for you.
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Led by attorneys Michael D. Finn and J. Andrew Meyer with over 75 years of experience, the Finn Law Group is a consumer protection firm that specializes in timeshare law. If feel you may need a timeshare attorney, contact us today. Follow us on Twitter #TimeshareAttorney #TimeshareLaw #VacationClub #TravelClub #VacationMembership