Time-sharing involves the division of ownership of property into a number of fixed time periods during which each purchaser has the exclusive right of use and occupation. Time-share offerings generally take one of three different legal forms. The first is the vacation license, under which the buyer acquires the right to occupy an undesignated unit during a specified time each year for a specified number of years. The second type is the time-share ownership, which gives the purchaser an undivided interest in the fee, coupled with an exclusive right of occupancy during the designated time period. The third variation is the vacation lease, under which the buyer purchases a right to occupy a specific accommodation for a certain time period over a specified number of years.
Deed Of Time For Tv
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