How Vacation Ownership Works 5Vacation ownership takes the hassle out of secondhome ownership. You purchase your future vacationsat today’s prices and for just the time you need.Make a one-time purchase of furnished resort accommodationsat a fraction of whole ownership costs andpay an annual maintenance fee. Each unit of a timeshareresort is divided into intervals most commonly by theweek or some other combination of days. Often theamount of time you purchase is expressed in terms of"points"– a popular trend that is aimed at increasingthe range of options for the use of your timeshareinterval.In a majority of resorts today, your vacation ownershipinterest will include a deeded interest in real estate.Other timeshare programs do not include an interest inreal property, but are structured more like a membership.How you actually use your timeshare vacation isgenerally not affected by the absence or presence of areal estate interest.The accommodations are priced according to a varietyof factors, including size of the unit, resort amenities,location, and season of use. You own the vacationaccommodations but only for the amount of time youchoose – typically one or two weeks each year for atraditional timeshare. There are other types of timeshareprograms, such as fractionals, offering longer useperiods (as long as three months), but these are pricedmuch more like a traditional vacation home.