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When you purchase a timeshare, you buy an interest in a vacation property, often a resort condominium, that you share with others. Companies that sell timeshares are notorious for using pushy sales tactics, which means some vacationers enter into contracts without fully understanding the nature of the deal. Before you sign on the dotted line, make sure you understand the details of your timeshare contract, including what your total financial obligation will be (most timeshare owners are responsible for paying taxes, assessments, and fees, in addition to their regular mortgage payments).
Below you can learn about timeshare purchases, common timeshare scams, what to look out for when buying a timeshare, and what to do if you suffer buyer's remorse and want to get out of the timeshare contract. And if you already own a timeshare and plan to sell or donate it, you can learn about possible tax consequences of those transactions.