Time-share at its core is essentially a group of people sharing the cost of a vacation home. The basic premise of time-share is simple. You and a group of other people share the purchase cost of a vacation accommodation, in increments of one week (or more) per year of use, thus guaranteeing your ability to use that accommodation during the period of time you choose, either for life or for a specified number of years.
Accommodations range from hotel rooms to yachts. Owning time-share in the traditional sense means a condominium/villa/house/hotel unit, etc. is subdivided into 52 separate units of time (52 weeks in 1 year), and usually sold to a maximum of 51 owners (leaving one week each year closed down for annual renovations and/or maintenance). Each owner would own 1/51 of the unit. Each share represents one week of vacation. Each owner is entitled to ownership rights and privileges of the shares that they purchased.
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