A timeshare is a certain piece of rental property, such as a condo, that several people purchase rights to. By owning rights, each owner is allotted a certain amount of time during the year (usually one week) when they can use the property. Timeshares are popular with people who visit the same place every year, or a more than once a year. By owning a timeshare, the timeshare holder does not actually own or hold rights to the property but simply the right to use it.

Timeshares became popular in the 1960’s when a ski resort developer advertised his new hotel by telling people to “own part of the hotel” instead of simply renting a room. The idea was readily embraced and thus, timeshares were born. Major hotel chains have jumped on the bandwagon and sell buildings full of timeshares in popular tourist destinations.
   
The amount you can expect to spend on a timeshare depends on a lot of different elements.  Location is the number one factor, as well as if the area is a “high demand” tourist attraction. The location of the unit within the building, if looking at condominiums, is also a factor. For instance a unit with an ocean view will probably cost more than a unit without. Age and location of timeshares plays a part, since new buildings are often priced higher than timeshares that are up for resale.  
   
Timeshare owners usually have the option of renting out their timeshare slot if they are not planning on using it. Timeshares can also be given as a gift or sold as wanted by the original owner. Owners can also swap within themselves for a different week than originally allotted. Some chain timeshares also allow owners to exchange one time share in a location for a timeshare in a different location.

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