In real estate, a timeshare is the purchase of an undivided interest in property, typically a condominium located in a resort area, for use during a fixed or variable period each year. The ownership interest allows the purchaser to occupy the property for the designated time.
Timeshare arrangements may be structured as deeded interests or as contractual rights to use the property. They are designed to provide vacation accommodations while spreading the cost of ownership among multiple purchasers.
