A deeded week refers to a specific week of the year when you, as a timeshare owner, have the legal right to use a unit at a particular resort. This ownership is legally binding and recognized, much like owning a piece of real estate property. The term ‘deeded’ signifies that you hold a deed to the property for that specific week.
Understanding Deeded Weeks
In the timeshare industry, the year is typically divided into 52 weeks, and when you purchase a deeded week, you are essentially buying ownership rights for a specific week each year. For instance, if you buy a deeded week for the 26th week of the year, you will have the rights to use the timeshare during that week every year.
This kind of ownership is beneficial for individuals who prefer vacationing at the same time each year. It provides the comfort of knowing exactly when and where your vacation will be. Furthermore, because you hold a deed, you have the legal right to rent, sell, or even bequeath your timeshare week to someone else.
Fixed vs Floating Weeks
In the timeshare industry, the terms “fixed” and “floating” weeks refer to different types of deeded week ownership. A fixed week is when an owner has rights to use a specific unit at a resort for the same week every year. With a deeded week, there’s no need to worry about availability since your week is set in stone. This can be particularly advantageous during peak vacation times when availability might be limited.
On the other hand, a floating week allows owners more flexibility. Instead of being tied to a specific week, owners can choose any week within a designated season, based on availability. This option can be more appealing to those with flexible schedules or those who prefer varying their vacation times. However, it’s important to note that during peak seasons, availability might be limited with floating weeks.
