Vacation ownership, often referred to as timeshares, is a property arrangement where multiple individuals share ownership of a vacation property. Each owner is allotted a specific time period during which they can use the property, typically on an annual basis. This model allows people to enjoy vacation homes without the full financial burden of sole ownership. Owners usually pay an initial purchase price and ongoing maintenance fees. Vacation ownership can provide access to various locations and amenities, often through a network of resorts. This arrangement appeals to those who prefer predictable vacation experiences while sharing costs with others.