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Show Resort Timesharing Provides the Way When You Buy St. George, You Buy The World. Ah, to be rich. Not just rich but filthy rich. A home in the mountains, a home at the beach, a home at all the grand and sumptious world resorts. That kind of rich. Wouldnt it be nice? How about a little condo chalet in the tall pines of North Carolina, or a snuggy little ski week in the dead of winter; cool, green, breezy, bracing escapes from the muggy summer in the plains? Or how about a suite in one of those towers of power at the beach? And if that doesnt stir your spirit, how about your own place at Acapulco, Waikiki, the Costa Del Sol, Gstaad, the Riviera? Seem all pretty farfetched? Who has that kind of money. So why dwell upon it? Mainly because its not so farfetched anymore. You can have your place at the mountains or the beach and access to all those exotic world resorts for about the price of a new car if youre willing to share it with some partners. Its all possible through a little interval Under a system called one of the several ownership, ways in which a timesharing resort can be operated - they offer the units at a selling price of $5,000 per week. You buy any number of weeks at any time of year, splitting them up by seasons if you choose. You own the unit for these weeks with all the rights inherent in ownership. The maintenance fee is prorated. This fee pays for the operation of the complex, maintenance of the units and grounds and, depending upon the arrangements, for a complete refurnishing of the unit every five years. It works out to the advantage of everybody - the developer gets more for each unit and the buyer gets a vacation retreat for a fraction of what it usually would run. There is the factor of not really owning your place in the mountains or at the beach but ownership does have drawbacks, too. Security is an increasing problem due to the isolated nature of the at the You can have your place mountains or the beach and access to all those exotic world resorts... resort timeThe concept originated in sharing. Europe some years ago and recently emigrated to the United States. Its just beginning to catch on here. There are now literally hundreds of time share units in the United States as well as in the rest of the world. Richard H. Lewis of Kinston, president of Time Sharing International, is a man familiar with the concept. Along with his wife, Eva, he has established TSI to be a planconcept entitled ning, consulting, marketing, ac- counting, property management and supervisory management company for timesharing resorts. He calls them a way for us poor folks to afford a luxurious vacation without the headaches of maintaining an expensive complex. This is done by buying into a unit with other investors. You split the cost of ownership and maintenance with them. You can take your vacation at your vacation home and then forget about it while youre not using it. Perhaps it can best be explained by an example - a mythical example. condominium Shangrila is a vacation resort at Himalaya Mountain. Each unit is detached, consists of three bedrooms, a modem kitchen, cathedral ceilinged great room and comes completely furnished in easy to clean, contemporary decor. It has all the amenities most could want and then some - golf, tennis, skiing. Usually, each unit would sell in the well above $100,000 level. But the developers decide to operate the complex as a time sharing resort. They choose to sell ownership of the units and then for a small yearly fee operate the complex for the owners, taking care of maintenance and all the other chores associated with these complexes. 14-u- nit . places. Maintenance is a continuing necessity and increasingly more expensive. And how much use does anyone really get out of their vacation home, anyway. Other than weekend jaunts, no more than the Timesharing is the perfect way to enjoy your favorite skiing vacation, year after year, at today 's prices. With the Four usual vacationer. Here, also, a mythical example may But, perhaps, one of the most attractive offerings associated with help explain how RCI works. Say you own the first week of June and the this concept is the ability to trade off second week of February in a condo similar weeks for at a resort your at Shangrila on Himalaya Mountain. resort almost anywhere in the world Youre not much on skiing but love for a small fee. the coolness of the mountains during Participation in a timesharing rethe summer months. You save your sort usually carries with it the right to join an organization something 'Ju&eijfreekjand put the February bank. week'iri like Resort Condominiums Internaare What tional. This organization runs a you doing is telling RCI to rent your condo for February if they bank of timesharing resorts. By can. In return for that week, you are putting your resort weeks in the eligible to get a week at any of the bank, you can reserve for your use units they have access to on a similar banked condos anywhere in the d condo owners in basis. world. You pay a small fee to join the of world are doing the other the nominal of for fee use and a parts group same thing youre doing. You pick the condo. the-RC- sons Shared-Ownershi- the Costa Del Sol for the second week in April. For a small daily fee, running about $7 to $10 a day, you get a condo that is the equal to yours. It is completely furnished and ready for you to move in and keep house for a week. Considering the expenses involved in renting rooms for a week, and eating meals out, the savings can be substantial. Usually, the condo is operated like a hotel so often there is even maid service and other ameni- I ties Lewis feels timesharing of resort units is an idea whos time has come. There are several factors which he believes help promote the concept. Time-share- Theyre a hedge against the inflationary factor involved in vacation areas, he said for one thing. Prices are going up about 10 percent a year in this field. Timesharing allows you to keep todays prices in the future. They also are more environmentally sppnd, he, said. Instead of putting np 52 different units in a resort site, you only need to put up one to take care of the same number of people. Our economics are moving in this direction, too, he added. As gas prices rise and as resort growth tightens up, youll need to go more and more to this concept. Vacation at one of 400 resorts World-wid- e with RCI Exchange Membership in RCI allows you the same privilege of exchanging your time at the Four Seasons for a vacation at The best part one of 400 exciting locations world-widabout all this is that its already included in you Shared Ownership Plan with The Four Seasons Resort at no additional cost! So... see you in Mexico, the Caribbean, maybe Hawaii or even Europe on a first class vacation. One of the valuable benefits available to a Fouf Seasons Resort owner is membership in Resort Condominiums International (RCI). RCI is the worlds largest and most exclusive exchange service. RCI is delighted with this association as it will allow its 105,000 members in 27 different countries to exchange their time and come to the great Southwest to visit the National Parks, take in the lights of Las Vegas or simply golf, swim and bask in the The other Palm Springs." sun in Utahs Dixie, . e. -t- 1 , & n Offers 4-Sea- p Seasons Plan, owners can exchange time at one of over 400 resorts throughout the World. ivmrmrnf Jtm r . Fee-Simp- le Timeshare A buyer of a time share program should be aware of the difference between buying a plan that allows him the right to use his condominium for a limited number of years or buying his unit in fee simple. Many time share programs being sold today allow the purchaser to use his condominium for a limited number of years and then his rights expire and the property reverts back to the orginal owners. The legal term for this is a purchase for a term of years with a reversionary right held by the seller. In effect, a purchaser of a"right-to-us- e is merely prepaying his rent in advance. This form of sale is used most often where the building sits on leased ground. A purchase is far superior. The buyer actually receives title to his portion of the building and grounds which is conveyed to him by a warranty deed. Such a buyer has a lifetime interest in the property and can even pass his title on to his heirs by will, gift or sale. f a v v a: vr T n m, -- fee-simp- le 1 1 J tjXSmLSX4t MTiL - As an RCI member you 'll be able to exchange vacation time at resorts throughout America and in 27 different countries worldwide. |