In a timeshare arrangement, what do owners possess based on a certain period of use?

In a timeshare arrangement, owners possess a fractional share of a property based on specific periods of use. The concept of fractional ownership means that multiple individuals or entities share ownership of a property, dividing the use and maintenance of it among the owners.

In this scenario, each owner typically has the right to use the property for a designated time frame each year, and this arrangement allows for cost-sharing among the owners. The fractional share does not equate to outright ownership of the entire property, but rather a shared interest that reflects their specific assigned time. This makes it an attractive option for individuals seeking vacation property access without the burdens of full ownership.

The other options refer to different types of property arrangements that do not align with the essence of a timeshare. Leasehold interest implies a long-term lease arrangement rather than shared ownership, full ownership reflects owning the entire property outright, and a long-term rental agreement does not grant ownership rights but merely a rental situation.