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timeshares are marketed to those who want to own a vacation property but either cant afford it or dont want to deal with all of the cost and maintenance associated with a second home heres how it works there are two types of timeshare contracts deeded and leased deeded timeshares grant partial ownership of a unit but only guarantee use of the unit for a set amount of time each year the deed is shared with other timeshare owners each person claims some ownership and is usually allotted a specific week or weeks to use the property because the deed is shared it isnt treated like typical home ownership not only our owners limited to an allotted time slot to use the property but maintenance and upkeep are shared among the owners a person cant make any major changes to the unit unless permission is granted by all members of the timeshare deeded timeshares do give owners the right to rent sell exchange or bequeath the timeshare owners are also responsible for paying whatever monthly mort