Costa Rica Beach Real Estate – Time Shares

Costa
Rica Real Estate – Time shares – Guaranteed Vacations

You buy the “right of use in this kind of tourist investment

After 20 years, time-share systems have become a good alternative for vacations.
As tourism and real estate becomes more expensive, those families that do not
have their own vacation property or cannot afford a hotel find time-shares to
be a good alternative.

Time-sharing is a vacation system where you buy the right to the use of
a vacation place with many owners, each of whom has the right to use the place
at a specific time. In other words, various owners share a residence during the
year.

According to law, time-shares are understood to be “a contract which puts
at the disposition of a person or group of persons the use, enjoyment and other
conveniences, of one or several properties in total or partial form with the quality,
conditions and characteristics agreed upon and for certain periods, through a
payment of a certain sum, and in no way is ownership of the property transferred.

One acquires the “right of usage’ with no right of ownership, for a
period of time.

The right is granted by paying a high initial fee and is maintained by paying
yearly maintenance fees. The United States has the largest number of time-shares.
Costa Rican time-shares are primarily on the coast; Condovac and Flamingo Marina
in Guanacaste are examples, with Condovac having as many as 5,000 members.

Other models. Condovac’s arrangement is somewhat different. In the first
place, its sales are not like those of a regular time-share. The general manager
explained that membership is more like holding a share in a company. He said they
are owners, know their ownership can be inherited and see their share as a real
asset.

When a person has a time-share with Condovac, he acquires a common share and the
right to enjoy installations and services for life. This kind of arrangement falls
under laws for corporations.

Before buying:

Know what the law is. Check the law on consumer protection and the ruling
on time-share contracts.

Make sure it’s legal. Make sure the project is legal; check out promoters’
credit and legal situation.

Read the small print. Read every paragraph in the contract. Find out about
association rules. The contract should have clear information about the complex
description, its assets and maintenance costs.

Don’t be swayed by offers. Don’t be swayed by gifts and promotional
invitations. Watch out for aggressive sales people.

Our thanks to Cynthia Briceno and our friends at La Nacion – Costa
Rica’s largest Spanish circulation newspaper for their permission to use
this article…

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Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.