By: Vitor Antony Ferrari and Ivan Kubala.

In short, the time sharing or multi-ownership consists of sharing assets, whether real estate or movable, for a period of time, and may belong to one or more partners/investors. It is a type of temporary division of the asset.

In Brazil, 02 (two) years before the enactment of Law No. 13,777/18, which regulates the institute, multi-ownership was recognized, through the jurisprudence of the Superior Court of Justice (RESp: 1546165 SP, reported by Minister João Otávio de Noronha). In this case, the Superior Court recognized the institute and, furthermore, stated that it was a new real right, despite not yet being regulated at that time.

The trend and practice of time sharing are still not very well known in Brazil, despite having started in the mid-1960s in Europe and having been regulated almost 3 years ago with the approval of Law No. 13,777/18, known as the Real Estate Multi-Ownership Law, inserting arts. 1,358-B to 1,358-U in the Civil Code of 2002, which contains the concept of multi-ownership as being “the condominium regime in which each of the owners of the same property is the holder of a fraction of time, to which corresponds the right of exclusive use and enjoyment of the real estate property, to be exercised by the owners alternately”.

Thus, during the period of use, the multi-owner has the freedom to exercise ownership of the use and enjoyment of the property in the manner that best suits him, so that the others are temporarily deprived of this right.

Given the peculiarities of this modality, another important point that deserves to be highlighted is the possibility of a multi-owner transferring his rights to third parties without the consent of the others, that is, he is not subject to the Action for division or termination of condominium.

The Law represents, in fact, a break with the traditional concept of property that was tied in a fixed way to its owner. Therefore, before the enactment of the special legislation, it was very complicated to carry out pertinent registrations and endorsements with the Real Estate Registry Offices.

Furthermore, the Brazilian legislator did not restrict its application to the nature of the property, resulting in its application to both urban and rural properties, and being very useful for the latter as well, since certain obligations contracted by only one multi-owner will not extend to the others, such as, for example, the acquisition of credit through a mortgage, since this will be linked only to the fraction of time of the debtor multi-owner. Furthermore, we can mention the absence of a tenant's right of preference in the event of alienation of the fraction of time of a multi-owner who is not part of the lease relationship.

With this, it can be concluded that the adoption of multi-ownership represents an advance in real estate relations, bringing countless benefits to those who intend to take advantage of this institute, reducing their cost in acquiring and maintaining the property, aiming at greater economic use and a greater cost-benefit for all those involved in society.