For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates, or requires, a different meaning.
TIMESHARE. A form of residential real estate ownership in which separate housing unit ownership is represented as shares in a corporation, a partnership interest, or any other individually-owned transferable property right or interest, and which grants housing unit ownership, use, and occupancy rights to each owner for an annually-recurring part, or parts, of a calendar year only as specified in a condominium declaration or other ownership document.
TIMESHARE BUILDING. A residential building which is wholly devoted to timeshare housing units. Because of the unique operational characteristics, individual transient usage resembling a resort hotel operation and impact on a normal, residential environment, a TIMESHARE BUILDING is classified as a separate use category.
(Prior Code, § 74.02) (Ord. 2-92, passed - -1992)