GLOSSARY 593

GLOSSARY 593

TIME-SHARE PROJECT — A form of subdivision of real property into rights to the recurrent, exclusive use or occupancy of a lot, parcel, unit, or segment of real property, on an annual or some other periodic basis, for a specified period of time. TIME-SHARE USE — A license or contractual or membership right of occupancy in a timeshare project which is not coupled with an estate in the real property. TITLE — Indicates “fee’’ position of lawful ownership and right to property. “Bundle of Rights” possessed by an owner. Combination of all elements constituting proof of ownership.