What is a key characteristic of time-share agreements?

A key characteristic of time-share agreements is that they allow for non-overlapping use periods among owners. In a time-share arrangement, multiple individuals or families purchase the right to use a property for specific time periods throughout the year. This means that each owner has a designated timeframe for their stay, ensuring that the usage periods do not overlap. This structure is crucial as it maximizes the enjoyment and value of the property for each owner, allowing them to plan their vacations or getaways without conflicts with other owners.

The other aspects of time-shares, such as ownership concerns and decision-making processes, differ from what is illustrated in the correct answer. Time-share agreements do not confer permanent ownership but associate a share of use in the property. Also, while some time-share models may incorporate rental options, they do not universally require weekly rentals for each owner. Likewise, changes to the terms of the agreement might not require unanimous consent, depending on the specific rules set within the time-share contract, highlighting the flexibility and variety found within such arrangements.