time-share - a development project in which ownership is in the form of an "interval ownership" estate permitting occupancy for a specific time or times throughout the year. Units are sold in blocks of one week at a time. Each of the many owners holds title to the property as tenants in common under a separate use agreement. Prices may vary depending on the specific time of year purchased. Summer periods are most expensive in temperate areas, whereas winter periods command the highest prices for ski resorts. Time-share salespersons generally require a real estate license, and their sales practices are often strictly regulated by the states. 

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