term:

Timeshare

timeshare n

often attrib
: an agreement or arrangement in which parties share the ownership of or right to use property (as a resort condominium) and that provides for occupation by each party esp. for periods of less than a year called also timesharing
timeshare vt

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.