Below you will find definitions for words most often used in conversations and literature regarding timeshares.

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Topics: 

Amenities?
Features that add to the value of the property such as swimming pools, tennis courts, golfing or boating facilities.
Last Updated:
4/29/2010
Deed?
A legal document that certifies ownership.
Last Updated:
4/29/2010
Exchange?
The process of trading an interval week at one resort for an interval week at another resort or trading a specific week at the home resort for another week at the same resort. The exchange system allows an interval owner to trade their week with other int
Last Updated:
4/29/2010
Fixed Unit?
Owning a fixed unit at a resort assures the owner of the same physical unit each year he/she vacations at the resort.
Last Updated:
4/29/2010
Fixed Week?
The purchase of a fixed week property assures the owners that they will always vacation the same week on the interval calendar each year.
Last Updated:
4/29/2010
Floating Unit?
Interval owners of a floating unit at a resort may not vacation in the same physical unit each year they vacation at their home resort. Interval owners may request a specific unit and, if available for that particular week, the resort normally will honor
Last Updated:
4/29/2010
Floating Weeks?
A system whereby the timeshare weeks purchased vary from year to year. Resorts have specific guideline for this plan.
Last Updated:
4/29/2010
Timesharing?
Individuals buy or lease a specific time period in a selected condominium. Owners then have possession of deed and Title Insurance with the right to rent, loan or resell the property.
Last Updated:
4/29/2010
Lock Out Unit?
Typically a unit that has the capability of being divided to create two separate but complete sections. If an owner buys a lockout unit, he can divide the unit and either stay in one half of the unit and rent the other half or rent both halves to differen
Last Updated:
4/29/2010
Maintenance Fees?
Money paid annually to cover costs of maintaining the grounds of the resort, the units and management fees. These fees vary with the amount of time purchased.
Last Updated:
4/29/2010
Red, White or Blue Week?
A system denoting peak times at resorts determined by season. Red weeks are considered the most desirable followed by white, then blue weeks.
Last Updated:
4/29/2010
Right To Use (Lease)?
A type of ownership whereby actual ownership reverts back to the developer after a specified period of time.
Last Updated:
4/29/2010