Property Ownership
Maine recognizes 'time-share' ownership under the Condominium Act. In a time-share arrangement, the owner receives:
AFull ownership of the unit during their annual period of use
BThe right to use the property for a specified period each year with fee simple or leasehold ownership✓ Correct
COnly a license to use the property
DExclusive perpetual ownership of the physical unit
Explanation
A time-share gives the owner the right to use a specific unit or property for a designated period each year. The ownership interest may be structured as fee simple, leasehold, or a club membership depending on the specific product.
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