If a person purchases the right to occupy a unit for a certain designated period each year, this is called:
A) undivided ownership
B) time share ownership
C) cooperative ownership
D) estate for years ownership

Question

Quizplus · Accepted Answer

The description given in the question is that of a time share ownership, where the person purchases the right to occupy a unit for a designated period each year. Undivided ownership refers to a situation where multiple owners have a share in the same property. Cooperative ownership involves owning shares in a corporation that owns the property. Estate for years ownership refers to a leasehold interest for a specified duration.

If a Person Purchases the Right to Occupy a Unit