Technically, owning a time-share means that at a specific 'time' you have access to the 'share' you own in a property. Time-shares have been sold for cruises, recreational vehicles, campgrounds and many other types of properties, but their most popular use is for shares in condominiums at large time-share resorts. There are many flexible ownership variations that prevent you from being committed to one time-share destination and one specific time of year.
Time-shares became popular in Europe in the 1960's when escalating property prices made it nearly impossible for most people to afford a full-time vacation home. By creating a shared ownership, developers were able to reduce the costs for each owner, allowing them to successfully market and sell properties to a greater number of clients.
