A timeshare is the name given to piece of real estate where a number of individuals share ownership in the subject property. As opposed to a standard home where an individual or, for example, a husband and wife share ownership, a timeshare is almost always owned by a number of people who have no relation to one another whatsoever.

Timeshare properties can often be found in warm destinations where people like to vacation. As an example, coastal towns and cities in Florida (Daytona Beach) and South Carolina (Hilton Head Island) offer huge numbers of timeshare properties. They can also be found in cold weather areas (ski resorts in Colorado) and all over the world (Ireland, Mexico, Spain) as well. Most of these timeshares are located in resort communities.

Timeshare properties are much more than simple hotel rooms. Typically, they include one to three bedrooms, multiple bathrooms, a full kitchen and a living room. These condominium-style units are almost always fully furnished. Indoor and outdoor swimming pools are common at most timeshare properties.

The typical timeshare ownership unit is one week. Timeshare ownership is very similar to that of a condominium except that your ownership is limited to a certain week (or weeks, if you purchase multiple intervals) during the year. If your one-week time period is in demand, the price will be higher. For instance, a timeshare for a week on Hilton Head Island, South Carolina in April will cost far more than a week at the same resort location in the sweltering heat of August.

Timeshares can be sold or passed down to heirs as with other forms of real estate. Many people not only look at their timeshare as a means to have a great vacation, but they also view it as an investment. Should they decide not to use the property for their own usage, they can rent their timeshare to others. Also, the value of many timeshares increases with the passage of years, so long as the destination remains attractive.

Most timeshare agreements allow owners to trade and swap locations. For instance, an owner in the Bahamas could swap his weekly ownership for a similar timeshare in Hawaii. Many major hotel companies, such as Marriott International, manage and sell timeshares at resort locations.