Timeshares are based on the concept of fractional ownership in a property. Other buyers purchase the remaining fractions. From there, the various ownership structures become more complex. You can purchase a fixed week, which means that you own the right to use the unit during the same week each year, or you can purchase a floating week, which generally gives you the right to use the property during a predetermined period of time. Some properties operate on a point. These are often referred to as «vacation clubs. Some plans let you «bank» unused points. Timeshare properties can often feature larger and more luxurious accommodations than standard hotels and are generally located in desirable places.