{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/840/978/#00-status","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"840","topic_title":"Leases","subtopic":"840-978","subtopic_title":"Real Estate—Time-Sharing Activities","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"840-978-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL50392709-203123\"><tr><td class=\"entry\"><strong class=\"ph b\">Paragraph</strong></td><td class=\"entry\"><strong class=\"ph b\">Action</strong></td><td class=\"entry\"><strong class=\"ph b\">Accounting Standards Update</strong></td><td class=\"entry\"><strong class=\"ph b\">Date</strong></td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><strong class=\"ph b\">Contract-for-Deed</strong></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><strong class=\"ph b\">Tenancy-for-Years</strong></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><strong class=\"ph b\">Time-Sharing</strong></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><a href=\"/glossary/t/#time-sharing\" class=\"term\" title=\"An arrangement in which a seller sells or conveys the right to occupy a dwelling unit for specified periods in the future. Forms of time-sharing arrangements include but are not limited to fixed and floating time, interval ownership, undivided interests, points programs, vacation clubs, right-to-use arrangements such as tenancy-for-years arrangements, and arrangements involving special-purpose entities. In this context, an undivided interest is a time-sharing arrangement that involves a tenant-in-common interest in a condominium unit or entire improved property, and in which the interest holder is assigned a specific period (generally, a specific week). The interest holder is also assigned a specific unit if the undivided interest is in the entire improved property.\"><span>Time-Sharing</span></a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a></td><td class=\"entry\">03/14/2014</td></tr><tr><td class=\"entry\"><strong class=\"ph b\">Undivided Interest</strong> (2nd def.)</td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a></td><td class=\"entry\">03/14/2014</td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/asc/840/978/#840-978-05-1\" class=\"xref\">978-840-05-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/840/978/#840-978-15-1\" class=\"xref\">978-840-15-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/840/978/#840-978-25-1\" class=\"xref\">978-840-25-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/840/978/#840-978-25-1\" class=\"xref\">978-840-25-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/840/978/#840-978-25-2\" class=\"xref\">978-840-25-2</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nContract-for-Deed | Superseded | Accounting Standards Update No. 2016-02 | 02/25/2016 |\n…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bbba22973d4fa324a1beef52c77be82062322136d22f4de25de72cf8be618c87","downloaded_from":"2026-09-10T01:55:04.614Z","last_downloaded_at":"2026-09-10T01:55:04.614Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478634","source_sha256":"1915c015b5311999329525c99d7639b3e856f03ae26fe9a571d97f40b3b84a06"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:08199bacd5aa200c292c04379e28dd961dfe0e7e8f046fdaa91b68a94919f38a","downloaded_from":"2026-09-10T01:55:04.614Z","last_downloaded_at":"2026-09-10T01:55:04.614Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478634","source_sha256":"1915c015b5311999329525c99d7639b3e856f03ae26fe9a571d97f40b3b84a06"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a1b28d6eae542e7d07785bd7c66f4cab776c482af376bb984c481c8561e6b42","downloaded_from":"2026-09-10T01:55:04.614Z","last_downloaded_at":"2026-09-10T01:55:04.614Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478634","source_sha256":"1915c015b5311999329525c99d7639b3e856f03ae26fe9a571d97f40b3b84a06"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a1b28d6eae542e7d07785bd7c66f4cab776c482af376bb984c481c8561e6b42","downloaded_from":"2026-09-10T01:55:04.614Z","last_downloaded_at":"2026-09-10T01:55:04.614Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478634","source_sha256":"1915c015b5311999329525c99d7639b3e856f03ae26fe9a571d97f40b3b84a06"}}