Timeshare Ownership

The timeshare concept, also referred to as vacation ownership or shared ownership, is a form of real estate ownership that includes the traditional land rights of real estate ownership, a condominium component, and an element of time. In this timeshare concept, the land rights related to ownership of a parcel of land are defined by length and width on the earth’s surface. The condominium component introduces the dimensions of height based on a multiunit property, as well as ownership in the common elements of the property, such as a swimming pool, fitness center, and parking area. Finally, the dimension of time refers to the nightly, weekly, [Page 1222]quarterly, or other combination of defined time periods on a calendar that are owned. Therefore, timeshare is a ...