deeded vs. right to own

Post reply

Note: Please do not post ads in the timeshare forums. If you want to add a timeshare posting, go here.

Original Message:

Re: deeded vs. right to own (by KC):

I assume that you actually mean "right to use"...... There are, by way of specific example, numerous "vacation clubs" in which your MEMBERSHIP involves a "right to use" (most often, an annual week). In essence, in "right to use" you have "membership" as opposed to "ownership". Perennial Vacation Club is one such entity with which I am personally familiar. They have 6 different locations and your MEMBERSHIP (lifetime duration) entitles you to use one week per year at any one of their 6 locations, with no actual OWNERSHIP at ANY of those 6 individual locations. I believe that "lifetime right to use", by its very definition, probably precludes passing on that "membership" to your survivors. You pay annual "club dues" rather than "maintenance fees" as you would in deeded ownership, but the net cost is pretty comparable. You can sell your membership at any time as you see fit.

Deeded ownership, on the other hand, is just exactly that. You own unit/week(s) at particular resort(s) and your "ownership" is recorded in county records just like any other real estate transaction. Rights of survivorship can be (and often are) part of a deeded ownership. You pay annual "maintenance fees" (which generally include your "fraction" of the resort property taxes).

What's the difference in terms of your actual use? Not much at all. Edit addition >> Do be mindful, however, of the fact that an "expiration date" possibility exisits in some "memberships". Some might well see it that an "expiration" date could actually be a blessing of sorts, but that depends on your individual situation. While the particular "club" which I referenced above in my original reply has "lifetime membership", other "clubs" do not. Some have defined expiration dates and might very well "expire" before you do. That's an important point which I originally overlooked. I didn't want you to interpret my posting as stating that ALL club "memberships" are "lifetime"; they are NOT.<<

I don't claim to know a thing about the Jockey Club, except that it's listed as #0067 in the RCI directory. Looks like 9-10 floors, has studios, 1 BR and 2BR units, located about 4 miles from the airport. I'm willing to go out on a limb and speculate that there is probably no tidal beach anywhere nearby...... ;-)