A Study of the Legal Nature and the Rudiments of  the Time-Sharing in British Law

Ameri, Parviz; Ansari, Azam

A Study of the Legal Nature and the Rudiments of the Time-Sharing in British Law

Document Type : Scientific Paper

Authors

Parviz Ameri ¹

Azam Ansari ²

¹ Assistant Professor of Private Law, Shiraz University

² Faculty member of Payame Noor University and PhD student in Private Law, University of Tehran

Abstract

This essay illuminates the legal nature and the rudiments of Time- Sharing contracts in the British legal system as one of the pioneers of using it in the world, focusing on different kinds of legal estate and co-ownership in the British law. According to the British law, the owners of Time-Sharing have a kind of Fee Simple Absolute in Possession regarding their property. Thus, they have the executive right for their belongings. Although such an ownership embodies some limitations, its legal nature does not change and it does not deny Fee Simple Absolute in Possession of the owners. As the name expresses, Time-Sharing indicates a kind of sharing and partnership and its elements have been based on sharing laws. Since there are different kinds of Time-Sharing, for either of each exists variable elements. As a result, there are two kinds of Time-Sharing. The first is ownership of the property in a certain period of time on a Tenancy in Common basis. The second is sharing the interest and the benefit of the property in a certain period of time on the basis of a Joint Tenancy.

Keywords

Time-Sharing

Fee Simple Absolute in Possession

Tenancy in Common

Joint Tenancy

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