A timeshare is a property ownership model that allows multiple individuals to share the use of a vacation property. Each owner purchases the right to use the property for a specific period each year, typically one week. This arrangement makes vacationing more affordable, as the costs are divided among several owners. Timeshares are often found in popular vacation destinations and can include various types of properties, such as condos or resort units. Owners may have the option to exchange their time for stays at other properties through companies like RCI or Interval International, expanding their vacation choices.