Timeshare: The concept of purchasing an increment of time at a resort, condominium, apartment, or other facility, often with the option to exchange this time for time at a different location. What makes timeshare such a desirable alternative to traditional lodging is the value. Because the cost of a unit at a timeshare resort is split between many owners, it is possible to vacation at an elegant resort for far less money than it would take to purchase a unit outright, lease a property, or rent a hotel room for an extended period of time. Timeshare exchange programs afford the owner the opportunity to vacation all over the world and enjoy luxury amenities with no wasted expense.

 

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Timeshare: The concept of purchasing an increment of time at a resort, condominium, apartment, or other facility, often with the option to exchange this time for time at a different location. What make . . . View Full Definition

Timeshare Developers: Companies that develop or acquire resort properties, and usually market and sell the timeshare inventory in those resorts to consumers. The developer entity may also act as the property mana . . . View Full Definition

Ote (Organisation For Timeshare In Europe): A trade association in Europe composed of resort owners and developers. The OTE is similar to ARDA, but with more of an emphasis on consumer affairs.

Points: A fee charged by the lender as additional compensation for making the loan. One 'point' is equal to 1% of the principal amount of the loan.