Timeshare Basics and Modern Realities

If you’ve ever heard the word “timeshare” and wondered what it really means, you’re not alone. A timeshare is basically a contract that lets you use a vacation property for a set period each year, usually a week or two. It’s cheaper than buying a full‑time second home, but the details can be tricky. Below we break down how timeshares work today, what to expect if the owner passes away, and whether they’re still worth buying in 2025.

How a Timeshare Works in Plain English

When you buy a timeshare, you’re purchasing the right to stay at a resort during a specific slot. There are three common types:

• Fixed week – you always get the same week each year.
• Floating week – you pick any week that’s still open, often through a points system.
• Points based – you buy points that you can trade for stays at different resorts.

Regardless of the type, you’ll still pay annual maintenance fees, which cover upkeep, staff, and utilities. Those fees can rise over time, so always ask for the current amount and the historical increase rate before signing.

What Happens When a Timeshare Owner Dies?

The moment a timeshare owner passes away, the ownership usually transfers to the heirs named in the will. If there’s no will, the estate decides based on intestacy laws. Heirs inherit both the usage rights and the ongoing fees, which can be a surprise if they weren’t prepared.

To avoid unwanted bills, families can:

• Sell the timeshare before the owner’s death, using a reputable resale service.
• Transfer the timeshare to a friend or family member who wants it.
• Donate the timeshare to a charity that accepts such gifts.

Planning ahead with an estate attorney can make the process smooth and keep the property out of probate hassles.

Many people ask if timeshares are dying out. The answer isn’t black and white. In 2025, vacation rentals like Airbnb have shaken the market, but timeshares still have a niche. They’re attractive to buyers who want a guaranteed vacation spot without the full cost of a second home. However, the resale market is tougher, and hidden fees can bite.

Before you jump in, ask yourself a few practical questions:

• Do I really need a fixed week, or would a flexible points system suit my travel style?
• Can I afford the annual maintenance fees for the next 10‑15 years?
• Am I comfortable with the resale value, which often drops below the purchase price?

If the answers are mostly “yes,” a timeshare might fit your lifestyle. If you’re unsure, consider a vacation club that offers more flexibility or simply book rentals when needed.

Bottom line: timeshares can be a fun way to lock in vacation time, but they aren’t a free pass. Understand the fees, know the inheritance rules, and evaluate whether the guaranteed week is worth the long‑term cost. Armed with this info, you’ll make a smarter decision and avoid the common pitfalls that catch many owners off guard.