What type of ownership do individuals receive when they purchase a timeshare with a fractional share?

When individuals purchase a timeshare with a fractional share, they typically receive interval ownership with a deed. This type of ownership means that the buyer possesses a specific portion of the timeshare property for a designated period or interval each year. This deeded ownership gives the buyer legal rights to the property during their allotted time, similar to conventional real estate ownership, but shared with others who own different intervals.

Interval ownership with a deed implies that the timeshare is recorded in public records, and owners are entitled to certain legal rights, including the ability to use, sell, or transfer their share. This structure differentiates it from other forms of ownership, such as leasehold ownership, where a buyer has rights to use the property for a specific duration but does not own it in the traditional sense. Additionally, shared ownership without a deed and joint tenancy ownership do not align with the legal framework surrounding timeshares because the former lacks ownership rights associated with a deed, while the latter pertains to shared ownership among individuals without specified time intervals, unlike the structured nature of fractional timeshare ownership.