What is Timeshare and how it is regulated in Washington state A timeshare (sometimes called vacation ownership) is a property with a divided form of ownership or use rights.
These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each owner of the same accommodation is allotted their period of time.
Because timeshares allow people to purchase rights to occupancy, real property is regulated by the state of Washington. A person can sell timeshares in Washington without a real estate license, but they need to be registered as a timeshare salesperson. Real estate brokers and managing brokers are exempt from registration as a timeshare salesperson. Just like real estate purchases, it is required that timeshares provide disclosures to purchasers. There is a legally required period of 7 days that the purchaser must be allowed to review the disclosure document
The original buyer of a timeshare generally takes a substantial loss when a timeshare is successfully resold.
