Fractional ownership of vacation property

A little background from Wikipedia, in case you’ve never heard of it.

That bit sounds like it was written by a salesman, though.

What do you know about it? Any first/second/third-hand experiences to share? All I can find via Google are articles that, like the Wikipedia one, sound more like sales propaganda than actual experiences from owners.

Can anybody (who is not a vacation property salesman) explain to me exactly how it’s so much better than a timeshare? I understand that you own a deed to the property (well, a fraction of the property). But is that any easier to get rid of if you decide it’s not for you? Is it really an investment that will appreciate in value (as real estate tends to do)?

A fellow at work is giving me the sales pitch, and it really sounds tempting, but I have reservations. Mostly because it sounds a lot like a timeshare, and I know that timeshares are a bad idea™.

Thanks for any information you can provide.

P.S. Bonus points if you can give me some specific information re: mortgage interest tax deductions in Canada. If your property is in a rental pool, is it considered an investment property?

AFAIK, you have a deed to the property with a Timeshare, also.