right to use

can someone tell me what the "right to use" means as I noticed it several times on unit resales. thank you

christac6 wrote:

can someone tell me what the "right to use" means as I noticed it several times on unit resales. thank you

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.

There is a timeshare glossary in our Help section at this link http://www.redweek.com/help/glossary

Thanks, Marty

marty8084 wrote:

christac6 wrote:

can someone tell me what the "right to use" means as I noticed it several times on unit resales. thank you

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.

There is a timeshare glossary in our Help section at this link http://www.redweek.com/help/glossary

Thanks, Marty

christac6 wrote:

marty8084 wrote:

christac6 wrote:

can someone tell me what the "right to use" means as I noticed it several times on unit resales. thank you

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.

There is a timeshare glossary in our Help section at this link http://www.redweek.com/help/glossary

Thanks, Marty

Thank you for the clarification. Why do some ads show annual and others right to use?

Annual refers to the use of the week, etc. If it says it's annual then the week can be used every year. While some say "odd years" or "even years" then that would mean it can be used every two years. "Right to use" indicates the type of ownership. Timeshares are either deeded or right to use.

which is better to own, deeded or right to use?

christac6 wrote:

which is better to own, deeded or right to use?

I would say deeded. Deeded = you own the week outright. Right to use = you, in essence, lease the week until a certain date in the future.

Most, if not all, Mexican timeshares are RTU.

Thank you for the info!