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In Finland, a condominium-like arrangement where the ownership of the real estate is assigned to specific apartments (Finnish: hallinnanjakosopimus, Swedish: avtal om delning av besittningen) is usually used only with detached or semi-detached houses. A housing cooperative is a common form of home ownership in Finland.
The term "timeshare" was coined in the United Kingdom in the early 1960s, expanding on a vacation system that became popular after World War II. [1] Vacation home sharing, also known as holiday home sharing, involved four European families that would purchase a vacation cottage jointly, each having exclusive use of the property for one of the four seasons.