What is Timeshare?
The type of real estate that can be rented by different persons during the year or purchased for a certain period of the year is called time-share. The timeshare system, which provides shared ownership, is generally preferred in thermal holiday villages or summer areas.
Timeshare can be rented for at least 15 days a year. At the end of the date specified in the timeshare agreement, the beneficiary tenant must evacuate the real estate. In addition to leasing, condominiums can be purchased for use for a period or all of the year. After the sale of the timeshare, the owner of the real estate can use the timeshare in the same period every year or transfer it to someone else by renting.
Deed transfer is required to purchase timeshare. A timeshare agreement is signed between the people who sell the timeshare and those who will buy it. The rights and responsibilities of the new real estate owner are specified in the timeshare agreement added to the declarations section of the land registry. After the timeshare deed is received, the buyer has the right to terminate the contract within 14 days without giving any reason.
