Timeshare

From MagnOogle

Timeshare (resort) in the timshare resort business usually refers to the weekly division of a condominium or hotel room for purchase by an individual, with rights to use that week as either deeded inventory or part of the group of owners. That owner may occupy that exact week if he owns Fixed week or Flex week.

Vacation ownership according to http://en.wikipedia.com is synonymous with timeshare. However timeshare on the street usually means the 1/52 ownership of a unit, condo or room as opposed to fracational ownership which infers a smaller fraction or vacation club or whole ownership.

From Redweek.com : A right, shared with others, to occupy a unit of accommodation for a period of time (usually a week) on a regular basis for a number of years. Sometimes referred to as Vacation Ownership, Holiday Ownership, Multi Ownership or Group Ownership. Timesharing can be in a single building, an apartment block, or a boat.

See Also WikiPedia Timeshare