Time-Shares

Time-shares (governed by Chapter 721, F.S.) are big business in tourist areas like Orlando. You are buying the right to use a property for a specific time interval (e.g., Week 51 every year).This is "Deeded Interest." You own that week in Fee Simple forever. You can sell it, will it, or give it away. It is real property.This is a Lease. You have the right to use the property for a set number of years (e.g., 20 or 40 years). Afterward, your rights expire and it goes back to the developer.Because time-share sales can be high-pressure, Florida law gives buyers a 10-day cancellation period. It is a "no questions asked" right to rescind the contract.If you list a time-share for resale, the contract must have a specific disclosure in bold text warning the buyer that specific common expenses (maintenance fees) may increase.Warning for Agents: It is illegal to collect an upfront fee for listing a time-share simply to advertise it. You get paid when it sells.