Question

The Emery family, along with 20 other families, purchased a timeshare estate that will enable them to share a condominium in a resort community. A timeshare estate involves a ______ type of ownership.

Answer 1

Answer:

A timeshare estate involves a fee simple type of ownership.

Explanation:

Fee simple ownership is likely the most well-known form of ownership for real estate buyers. This kind of ownership can also be called fee simple absolute due to its characteristic of being fully complete. When a fee simple buyer purchases a property, he/she receives the title, which also covers the land and whatever improvements to it.