A timeshare is a property ownership model where multiple individuals share the rights to use a vacation property. Each owner typically purchases a specific time period, often a week each year, allowing them to enjoy the property during that time. This arrangement can make vacationing more affordable, as the costs are divided among several owners. Timeshares can be found in various locations, including resorts and beach houses. Owners may have the option to exchange their time with other owners through exchange programs, enabling them to visit different properties. However, it's important to understand the associated fees and responsibilities before purchasing a timeshare.