Definition of Timeshare:
A timeshare is a shared ownership model of vacation real estate in which multiple purchasers own allotments of usage, typically in one-week increments, in the same property. The timeshare model can be applied to many different types of properties, such as vacation resorts, condominiums, apartments, and campgrounds.
Timeshares confer upon buyers the right to annual exclusive use of a vacation property for a defined period that is generally measured in one-week increments. Timeshares typically use one of the following three systems:.
A form of ownership involving purchasing a specific period of time or percentage of interest in a vacation property.
How to use Timeshare in a sentence?
- Timeshares are available for various types of vacation properties such as resorts, condominiums, and apartments.
- Timeshares are available for a fixed week–a buyer has a set week each year, or a floating week–use of the property is limited to a season.
- Timeshare benefits include vacationing in a professionally-managed resort in a predictable setting.
- Timeshare drawbacks include a lack of flexibility in making changes, annual maintenance fees, and difficulty reselling one.
- A timeshare is a shared ownership model of vacation property whereby multiple owners have exclusive use of a property for a period of time.
Meaning of Timeshare & Timeshare Definition