Which ownership type involves fee simple ownership of interval occupancy?

• A. Life Estate
• B. Fee Simple Defeasible
• C. Time Share Ownership
• D. Joint Tenancy

Answer: (C)

The concept being tested is interval ownership, often called time-share ownership, where you hold a fee simple title to a specific interval of occupancy in a property. In this arrangement, you own the right to use the unit for a defined period each year, and that ownership is recorded in a deed, so you can sell, mortgage, or will that specific interval just like any other fee simple interest. This differs from a life estate, which lasts only for someone’s life and terminates on death, not for a recurring, defined period of occupancy. It also differs from a fee simple defeasible, which is ownership that could be lost if a condition isn’t met, and from joint tenancy, which involves multiple owners with survivorship and not a defined, recurring occupancy interest. So, owning a time-share interval represents fee simple ownership of interval occupancy.