Timeshare Estate: conveys an interest in real property, either perpetual or for a term of years, coupled with a right to use accommodations. Timeshare License: gives a right to use accommodations but without an underlying property interest. California Tax Code. The California Revenue & Tax Code defines timeshare associations as follows:
The term "timeshare association" means any organization (other than a condominium management association) organized and operated to provide for the acquisition, construction, management, maintenance, and care of association property if any member thereof holds a timeshare right to use, or a timeshare ownership interest in, real property constituting association property. (Rev. & Tax Code §23701t.)
Federal Tax Code. The Internal Revenue Code defines timeshare associations as follows:
The term "timeshare association'' means any organization (other than a condominium management association) meeting the requirement of subparagraph (A) of paragraph (1) if any member thereof holds a timeshare right to use, or a timeshare ownership interest in, real property constituting association property. (Internal Rev. Code §528.)
