property

time-share

A time-share is a form of ownership or use in which multiple buyers share a property, usually a resort unit, with each entitled to use it for a specific period each year. A time-share estate conveys a fractional fee ownership interest, while a time-share use (or right-to-use) gives only a contractual right to occupy for a set time without ownership. Owners pay maintenance fees, and many states regulate time-share sales and rescission rights.