time-sharing and time-shares

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time-sharing and time-shares

A temporal division of possessory rights in real property,typically allowing one the use of resort property for a limited time each year.“Owners” may have deeded rights to the real estate with fixed or floating periods of possession,or they may have only a license or other such right-to-use,but no ownership.The rights may be limited in duration,expiring after 5 or 10 years.Many time-share communities offer exchange programs,allowing one to use their time at a different resort than the one of their purchase. Besides the original acquisition price,owners are responsible for their share of the annual dues and unusual expenses.The resale market is limited, so the economic evaluation of a decision to buy should not depend on the ability to recover the purchase price, much less a profit, at some time in the future.

There is currently some regulatory confusion among states and the federal government regarding exactly how time-share interests should be treated. Before developing a time-share project, one should check with local authorities to see if any of the following are required:securities registration with the state Securities Department, subdivision platting, condominium registration, and/or real estate license needed for sales of interests.

References in periodicals archive ?
The House passed a bill addressing alimony only, but the Senate, pushed by Lee, included time-sharing.
Gonzalez noted the Family Law Section supported most of the alimony law changes, including the use of formulas to calculate alimony, and said she expects the section will be involved again if alimony and time-sharing return in the 2017 session.
1st DCA 2011), the Department of Revenue appealed a child support order because it contained a deviation for a verbal time-sharing schedule.
Real estate time-sharing transactions should be accounted for as nonretail land sales.
Liability for real estate taxes depends on the type of time-sharing program in which one participates.
The bill specifically strikes a provision in existing law, which says there is no presumption about time-sharing between parents, and the judge, using factors listed in law, will make a decision based on the best interest of the child, she said.
He also said the new time-sharing provision is no less vague than current law.
Against "any presumption regarding time-sharing as each family is unique and a time-sharing schedule should be considered on a case by case basis.
AcSEC drafted the proposed SOP to address diversity in practice caused by a lack of guidance specific to real estate time-sharing transactions.
Statement 66 provides limited guidance for time-sharing transactions.
His experience includes working on Litton Industries' Manned Orbital Laboratory project, Reactive Computer System (IBM's vendor for Time-Sharing Systems), RCA's Computer Aided Education Division in mainframe based time sharing systems and working with Electronic Data Systems (EDS) in the proprietary on-line systems development area (known internally as "Hal and Frank").
ME, TSE:CCC) Circo Craft is pleased to report that it is discontinuing effective today the four-day employee time-sharing program announced in March 1996 for its Granby manufacturing facility.