What is Timeshare?
Before moving on to the question of what is timeshare, a brief information. In modern environments, hosting is central. It has the feature of spending the holiday and having fun while resting in the best way, together with the intense work tempo and long working hours. As a result, nowadays, vacation has become a feature rather than a luxury. On the other hand, anyone who needs a vacation can provide ample budgets for it. Not everyone is in a position to buy a summer residence or take a vacation in luxury hotels. At this point, it carries out holiday options created for different income groups. Lower budget accommodation, resorts, condominiums and timeshare vacations are the first to come to mind.
What is Timeshare, how is it used?
Timeshare is a concept that we frequently visit in recent years, especially with the spread of spa and hot spring housing projects. So what is this timeshare? What is the difference from other summer investments or holiday concepts? Timeshare, in which the person owns a detached flat within his/her residence time with Turkish deed. The apartment in question here is usually found in holiday, spa, spa or recreational use residences. This system is guaranteed by the floor management law and this right is distributed among more than one person in 15-day periods. Here, timeshare owners can rent, sell or inherit all kinds of housing-related savings within the period they own. The concept of timeshare is mostly confused with timeshare and even time owners are misled in this regard. In time-holidays, the property is the sale of the computer for a period of at least three years and at least one week during this period. There is no Title Deed in Transferatils, the contract is sufficient.
There is always a distant approach to the new, and it is normal to have question marks in the minds, especially if money is paid for this innovation. So “why would I buy a timeshare?” The question is quite a valid one. Coming to the answer, first of all, it is not economical to buy a cottage for short-term holidays. In timeshare, there is a kind of financial burden to be shared with other timeshare owners. In addition to the financial burden, cleaning, renovation and maintenance of the cottages are your responsibility. This means spending both extra time and money. In timeshares, all this maintenance and repair service is followed by the timeshare administration. Property owners only pay dues for it. If you plan to rent your timeshare that year, you may not have incurred any expense by taking the dues from the tenant. In addition, when you want to sell your timeshare, you are likely to make a profit.
What Should Be Considered When Buying Timeshare?
Timeshare is also a kind of investment and there are points to be considered in this regard
- First of all, before buying a timeshare, the region where the timeshare is located, the social facilities in the site, the site services should be researched in depth and you should make sure that it meets your expectations.
- Timeshare right can only be used in circular buildings or detached houses with floor title deed.
- All title deeds must be shown in the land registry within one year at the latest after you have purchased the timeshare.
- The right of timeshare is taken for at least 15 days, if more is desired, this is determined as 30, 45, 60 days in multiples of 15 and indicated in the deed in this way. Transfer holidays are different, they start from at least 7 days and the contract is sufficient
- Contracts are the first reference source in the solution regarding the rights, obligations, powers and responsibilities of timeshare owners. Therefore, the contracts should be read carefully, if there is anything you want to add to the contract, this should be determined beforehand.
- If the articles of the contract are insufficient in solving the problems, then the Turkish Civil Code and its articles on this subject are taken as a basis.
If the timeshare management and other right holders cannot find a solution among themselves, the point of application will be the magistrates’ courts in the place where the real estate is located. Note: We do not recommend making a deposit and fee payment without seeing the facility and your flat. You should definitely see the facility and your apartment type, it will be in your best interest to make your payment at the time of sale. You can pay your fee when transferring at the notary or at the facility.