Adaption of Time-Sharing Contracts with the Universitas Facti Lease Contract in Iranian Law

On the basis of the Time-Sharing contract, a person, in a certain course of time, becomes the owner of the substance or its usufruct, or holds the right to benefit from the subject of the contract upon which the agreement is concluded. Under the influence of the Time-Sharing contract, the person holding the above-stated rights, will be able to directly or representatively fulfill his or her rights periodically for a limited or perennial course of time. These contracts are being concluded in a diverse set of forms almost in all of the countries around the world. The main purpose of this research is not to render a clear definition of the nature of the Time-Sharing contracts; but rather is to put emphasis on whether it is conceivable, based on Iranian legal system, to achieve contractual outcomes particular to the Time-Sharing contracts through a special type of Lease contract. In the very meaning of timeshare there is no substantive detachment between the substance of a contract and its usufruct and ownership is considered as a right. However, in the light of the tenets of the Civil Code of Iran and Islamic jurisprudential decrees in this regard, it is conceivable to attain the outcomes particular to the Time-Sharing contracts through a specific kind of the Lease contract or through the assignment of the “Substitutive Generality” to the subject and duration of the Lease contract.