Leon and Beth own multiple weeks in a timeshare estate. What type of ownership do they have?

Leon and Beth hold a fee simple ownership in their timeshare estate. This form of ownership is characterized by their complete control over the property, which includes the right to use, rent, or sell their share in the timeshare. Fee simple ownership implies that they possess all the rights typically associated with the property, subject only to governmental powers such as taxation and eminent domain.

In the context of a timeshare, fee simple ownership is often structured to allow owners specific intervals of time in which they can occupy the property, while still retaining ownership rights. This distinguishes it from other forms of co-ownership, such as tenancy in common or joint tenancy, where the nature of ownership and rights may differ significantly. In a tenancy in common, for example, each owner has a share in the property that can be sold independently, while joint tenancy typically includes right of survivorship and requires equal ownership shares among the owners.

In the case of leasehold ownership, the owners would not have full rights to the property, as they would only hold a lease for a defined term rather than owning it outright. Therefore, the recognition of Leon and Beth's interest as fee simple ownership aligns with the typical structure of timeshare estates, providing them with a more comprehensive bundle of rights