A property report most often denotes the state-issued document that discloses the sale of a time-share project. Because time-share projects are typically used as investment vehicles by the people who buy and sell them, most states regulate them more tightly than typical pieces of real estate. The purpose behind the property report is to keep track of the various time-share properties that are on the market for potential buyers. Just as the government might track an initial public offering of a security, it will inform the public through this sort of disclosure. The property report will typically include the legal description of the property, including its location and size. The report will generally include the sale price of the property as well as its buyers and sellers. These reports are designed to add legitimacy to the time-share buying and selling process.