Vacation properties owned jointly by multiple parties who each have the right to use the property for specific periods each year.
Compound word from 'time' (Old English 'tima') and 'share' (Old English 'scearu' meaning division). The concept emerged in 1960s Europe as a way to make vacation properties more affordable through shared ownership.
Timeshares were invented by a French skiing enthusiast in 1963 who couldn't afford a full ski chalet but realized he only needed it for a few weeks per year. This simple insight created an entire industry worth billions today.
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