Which of the following best describes the concept of deeded ownership?

Deeded ownership refers to a property arrangement where multiple owners hold a definitive share of the property itself, as opposed to just rights to use it. This means that under deeded ownership, individuals receive a deed that grants them an ownership stake in the property with a clear title, which can typically be sold, gifted, or inherited. This type of ownership is foundational in timeshare arrangements, allowing owners not only to occupy the property during their designated time but also to have a vested interest in it, giving them a sense of permanence and continuity.

The other options describe various forms of usage or occupancy rights but do not confer an ownership stake. For instance, temporary usage agreements, licenses, and lease agreements typically limit the rights of the individual and do not provide a title to the property. Thus, they do not encapsulate the essence of what deeded ownership entails, which is fundamentally about shared ownership and the associated legal rights that accompany that status.