The provision of the timeshare service, regardless of the name or the form given to the corresponding legal act, consists of making available to a person or group of people, the use, enjoyment and other rights that are agreed on a good or part of it, in a variable unit within a specific class, for previously agreed periods, by means of the payment of some amount, without, in the case of real estate, their ownership being transferred (in accordance with the provisions of ARTICLE 64 of the Federal Consumer Protection Agency, published in the Official Gazette of the Federation on April 9, 2012).
It is the right to use weeks or intervals of a Tourism Development during a specific period. It is the advance purchase of a vacation for a certain number of years.
Owning a timeshare is very similar to owning a condo except that your usage rights are limited to certain weeks or intervals during the year. The basic concept is to divide the hosting unit into 52 usage ranges to be sold individually.
The timeshare industry has changed quite a bit since its inception in the mid-60s. While the basic concept remains the same – multiple families sharing the use of a vacation lodging unit during different weeks in the year – its value, utility, image, and popularity have caused industry observers to predict that it is about to become the Number One choice of vacationers in the world over the next 10 years.
With the arrival of recognized brands such as Westin, Four Seasons, Marriott, Disney and Hyatt, among others, a product is currently offered that guarantees a serious option for anyone who likes to vacation and save in the long term.