A timeshare is defined as any arrangement for sharing ownership of a vacation home, condominium or other interest in realty where each of the joint purchasers may occupy the unit during a specified period each year.

Title in a property held by several owners, each entitled to the use of the property for specified time periods each year. Common in resort areas.

A form of ownership interest which allows use of the property only for a fixed or variable period of time

System of individual fee ownership of units in a multi-unit project, combined with joint ownership of common areas of the structure and land, for a specified period of time and shared with other owners of the same structure and land; usually used in "vacation packages" wherein a purchase is made for exclusive use of the property for one or more weeks per year.