Real Estate Terms Dictionary
Definition of 'Timeshare Deed'
Timeshare is a form of ownership in which more than one party has rights over the use of a property.
What does Timeshare Deed mean:
Timeshares usually apply to different recreational properties, such as condominiums, vacation homes, and vehicles. The parties can hold either ownership or lease rights over the property. Each of them can use the property for a certain period of time or rent it out to somebody else.
Here's a real-life example from one of the properties researched on PropertyShark:
The glossary is intended to provide real estate professionals and home buyers with a basic understanding of various specialized terms related to legal rights over a property. All terms appear in public records such as ACRIS. We do not take responsibility for the legal accuracy of the definitions provided and ask that use of these explanations in a legal setting be made only after checking with a lawyer or another specialist in the field.