Timeshare (noun)

A system of joint ownership of a property, especially a holiday home, by a group of individuals who take turns to use it.

Origin:

Mid-20th century: from time + share.

Examples:

1. He bought a timeshare in a beach house.
2. She used her timeshare to take a vacation every year.
3. The timeshare allowed them to use the property for a week every year.
4. The timeshare was a popular option for people who couldn't afford to buy a vacation home.
5. The timeshare industry was growing rapidly.