Time share vacation is defined as a holiday system established by a contract that includes the transfer of one or more real estate for a period of at least three years and for a period that may be defined or determined during the year for a period of not less than a week, at the cost of the right to use one or more real estate.

The timeshare holiday agreement gives the consumer a receivable right to benefit divided by time on the real estate subject to the holiday. This right is a personal right. The consumer is not the owner of any real rights, such as the right of ownership over the immovable property subject to the contract.