Open Access
American Research Journal of Business and Management
ISSN (Online): 2379-1047
DOI: 10.46568/arjbm
A Primer on Common Interest Communities and Interval Ownership: A Panacea or an Inevitable Trap?
Abstract
This article is a primer on various forms of property ownership; specifically, condominiums,
cooperatives, and time shares. The article will consider legal and financial aspects dealing with creation,
financing, and project development. Issues relating to alienation of rights, ownership rights, duties of the board
of directors, covenants and other restrictions, and potential tort liability will be discussed in a comparative
manner. Special consideration will be given to the “interval ownership” form and difficulties inherent in this
ownership form when the underlying property owner runs into financial difficulty—possibly even filing
bankruptcy—and questions relating to cancellation of time share contracts.
