Question about RTU listed under Type

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Original Message:

Question about RTU listed under Type (by Marty F):

williamr148 wrote:
In looking over the Timeshare Resales I don't know what "RTU" means as shown under Type. We are preparing to offer for sale our timeshare at the Mayan Palace and I would like to know what the RTU means, if someone can advise, please. Bill

Hi Bill,

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 at http://www.redweek.com/resources/glossary

Thanks, Marty