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Life Style - Time Shares Glossary


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Time Shares Glossary
Accelerated Use Accelerated use refers to a program that permits someone to use their purchased . . .
Accrued Weeks Any unused weeks from the previous year that have been banked and are available . . .
Ad Valorem A legal term which translates to 'according to value'. This refers to assessment . . .
Amenities Features such as swimming pools, tennis courts, laundry rooms and boat docks tha . . .
American Resort Development Association (ARDA) Based in Washington, D.C., this is the f . . .
Anniversary Date The day on which earned points accumulate, once per year. This applies in the ca . . .
Appraisal For real estate, an estimation of the worth of a given property, expressed as ma . . .
Appreciation When real estate appreciates, it has accrued value. Rarely, however, do timeshar . . .
Banking Generally, when dealing with a timeshare exchange company, a timeshare owner has . . .
Biennial (EOY) Usage of a timeshare week occurring every other year. Also referred to as EOY (e . . .
Block Banking Banking a large amount of timeshare weeks with an exchange company as soon as po . . .
Bonus Time Bonus time is use of a resort in addition to regular allocated time on a space a . . .
Bonus Weeks Often promoted by a timeshare developer, timeshare resort, or exchange company, . . .
Bulk Banking Banking a large amount of timeshare weeks with an exchange company as soon as po . . .
Closing Costs Expenses incurred during the sale closing process, or 'back end' of a transactio . . .
Club-Trust Membership Becoming more popular, this system of ti . . .
Constitution Legal documentation which describes and regulates the relationships between the . . .
Cooling-Off Period Also know as rescission, this term refers to the time period following the purch . . .
Credits Related to timeshare products or programs offered by some timeshare companies th . . .
Deeded Ownership A timeshare product that is evidenced by an actual deed to a specific property o . . .

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