{"iri":"https://folio.openlegalstandard.org/R9FMAbfEYARhk9Z0a5Fvij1","label":"Fractional Ownership Assets","sub_class_of":["https://folio.openlegalstandard.org/RbvEeHm8jkxY6SgfxEoC0i"],"parent_class_of":["https://folio.openlegalstandard.org/RDjZR2Ci5EFAMKJbMe4rwje"],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":null,"alternative_labels":[],"translations":{},"hidden_label":null,"definition":"Fractional Ownership Assets, such as timeshares, are assets that are owned by multiple individuals or entities, each holding a fraction of the ownership and entitled to use or benefit from the asset for a specific period. In the case of timeshares, owners typically have the right to use a vacation property for a set number of weeks each year, while sharing the costs and responsibilities of ownership and maintenance.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}