The juridical character of timesharing : a comparative study

Abstract

Timesharing has become a household name. However, it is still,to a large extent, an unknown entity, some people being extremely receptive to the concept, whereas others have got mixed feelings, if not unabashed hostility, to the idea. This is not surprising since timesharing is a very recent innovation in the second house market. Moreover, inspite of its simplicity, timesharing is quite a revolutionary concept which apportions the enjoyment of a specified property not only in the traditional horizontal or vertical levels (such as in a condominium or in a multi-storey development but also on the basis of pre-defined time units. In traditional ownership or even in a lease relationship, the owner or the lessee will enjoy the property uninterruptedly either in perpetuity or for a pre-defined period (i.e. the lease period, a period of emphyteusis or duration of usufruct). In timesharing, the property will be enjoyed only by the the timeshare purchaser during a pre-determined period of time; during the rest of the time, the property will be enjoyed by other timeshare purchasers. This does not mean that the right of the purchaser is not continuous; it is only the enjoyment of the property that cannot be continuous in timesharing.