Timeshare is a way to purchase a share, or piece, of a resort that guarantees a vacation at least once every year. There are different types of products—points-based, weeks-based, or a combination—that offer flexibility and a variety of options.
Put simply, there are two types of timeshare ownership—deeded and non-deeded. Most resorts today are deeded, in which the owner buys a deeded interest in real property. These are usually called “timeshare estates” under state laws. Non-deeded interests are “timeshare uses” or “timeshare licenses” but may also be called “memberships.”