Timeshare is a type of joint property ownership, commonly for holiday purposes, where multiple owners use the property for a specified period each year. Timeshare ownership of vacation property is a popular choice for persons who wish to secure a particular location as a holiday destination. Timesharing is now common all over the world.

The cost of purchasing a timeshare depends on the time of year selected; premium prices are charged for the most popular times of the year. The annual maintenance fee for the condominium unit and the annual property taxes are divided proportionally among the timeshare owners. A person who does not plan to use the property during the specified period may rent the timeshare to a third party, but the company managing the property may require that it broker such transactions and receive a fee for the rentals.

When a person signs an agreement to purchase a "timeshare," He/She is agreeing to pay the owner of the property an amount for the exclusive right to reside in the property for a specified time during the year. One or two weeks is the typical period that may be purchased. More about Timeshare