In today’s world we come across a contract whose foundation base is the time and spatial requirements. The time-sharing ownership has been formed under the influence of the concept of time-sharing which is normally used in the tourist and recreational places. On the basis of this contract people sign short-term or long-term contracts with the owner of a recreational place and each party to the contract uses the recreational place in specified intervals.
Attempts have been made in the present paper to discuss the bases of legitimacy of such contracts from the viewpoint of civil law and jurisprudent. Also the role of this contract in ownership of a property commonly owned by several persons as well as temporary ownership (such as leasing) a single property to several person have been discussed
