The right of the beneficiary on the real estate units According to timeshare system (Comparative Study)

Abstract

The right of the beneficiary on the real estate units, which are invested by timeshare system, depends in the fact that the investor division for utilization times from real estate unit or units to times corresponds with the beneficiary share. The question of the division of real estate units to timeshares as well as the rights of beneficiary on these shares has been raised legal disputes at both the legislative and doctrinal sides for those legal systems that rely special laws issued in this regard, or those that are based on the general rules contained in the Civil Code. In addition to that, determining the nature of the right of the beneficiary times in the timeshare system in various legal system, the role and adequacy of the general rules to deal with the problems that appear in the applying of the timeshare system and the extent of the efficacy of the legal provisions governing this contract in the legal system issued special laws to address these problems, is consider the essence of subject of the study. The study was conducted during two sections. Allocated the first to the nature of timeshare contract in which we seek to explain beneficiary rights that arise from this contract. In the second section, we searched the beneficiary utilization issue from the timeshares, and management the time.