Timeshare

A timeshare is a form of shared property ownership in which multiple owners share the rights to use the property for a specific amount of time each year, usually one or two weeks. When a person purchases a timeshare, he or she is purchasing a share in the property and is agreeing to pay the owner of the property an amount of money for the right to use the property for a specified time during the year. The rights to the property are divided among the owners. Timeshares are most commonly used for vacation homes, resorts, and recreation condominium property. This is a popular choice for people who want to secure a long-term commitment to a particular place but do not want to invest the assets in fully owning a home because they will not be living here full time.