Deeded vs Right to Use

Can someone tell me the difference?

scottp113 wrote:

Can someone tell me the difference?

Deeded Property:
True property ownership with deed recorded in the county where the property exists. This type of property has the same rights of ownership accorded to it as other deeded real estate. The owner may sell, rent, bequeath, or give away the property.

Right to Use (RTU):
A lease, or right to use ownership grants the lessor the right to use the property for a specified period of time; usually from 20 to 99 years. The resort developer or Management Company holds ownership of the physical property. However, during the right-to-use period, the owner may rent, transfer, or bequeath the remaining years of their right to use property.

More timeshare terms can be found in our Help area or at http://www.redweek.com/help/glossary

Thanks,
Marty

scottp113 wrote:

Can someone tell me the difference?

When buying or selling, are both (Deeded & RTU), handled the same way through ISCO??? Is a lawyer needed for Deeded? Thanks LP

Just so anybody inquirying on a Royal Resorts unit know that ALL the membership types are the same whether the owner puts Deeded or RTU! The reason for half putting Deeded and half putting RTU, is that the Royal Resorts has a unique ownership that is RTU plus Residual Rights (i.e. making it essentially Deeded but with the stipulation that you have to sell at a certain date). So Ideally Redweek management would just get rid of this cateogory for Royal Resorts, or have a RTU w/ Residual Rights added as an option.

Hope this helps!
Bill