Interval ownership agreements

Interval ownership agreements are contracts where multiple people share ownership of a vacation property, typically a resort condominium. Each owner has rights to use the property for a designated period, usually a week or a specified season, annually or at scheduled times. The agreement details their rights, costs, maintenance responsibilities, and how the property is managed. This system allows owners to enjoy a vacation home without full ownership burdens, sharing costs and usage with others. Essentially, it’s a shared-interest contract that guarantees specific usage rights to a property over multiple intervals.