Which type of timesharing typically involves ownership of rights to a property?

Fee timeshares involve ownership of rights to a property, which is a significant feature that distinguishes them from other timesharing options. In a fee timeshare arrangement, individuals purchase a specific fraction or share of the property, granting them legal ownership of that portion along with the right to use the property during designated periods. This ownership model allows the timeshare holder to have long-term investment in the property, providing not only usage rights but also the potential for appreciation in value over time.

Other options, such as vacation licenses, prepaid lease arrangements, and club memberships, do not entail true ownership. Vacation licenses typically provide only the right to use the property for a limited period without any ownership attached. Prepaid lease arrangements often involve renting the property for a set duration without transferring ownership rights. Club memberships usually grant access to certain properties within a network but do not confer ownership rights to any specific property. Therefore, fee timeshares uniquely represent a form of ownership among the given choices.