Life Style / Time Shares Glossary

Credits: Related to timeshare products or programs offered by some timeshare companies that assign a yearly allotment of 'credits' that can be used like currency for resort stays. This allows timesha . . . View Full Definition

Deeded Ownership: A timeshare product that is evidenced by an actual deed to a specific property or unit. Deeds are recorded in the county in which the property is located.

Deeded Property: A deeded property is one in which the property title does not expire. Once you own the timeshare, it's yours until you decide to sell it, much like home ownership. Deeded timeshares may also . . . View Full Definition

Demand Times: The periods of time in a resort that are requested the most. These are often unique to the particular resort location and depend on things such as climate and activities.

Deposit Window: The 24 month time frame within which timeshare owners are eligible to deposit their vacation week in the exchange pool.

Depreciation: Reduction of the value of real estate or other property. Vacation properties are not necessarily prone to depreciation, though they are likely to cost much less on the resale market than wha . . . View Full Definition

End-User Finance: When a loan is provided to enable a buyer to purchase timeshare property.

Escritura: In Spanish, the registration and deeding process for a Deed of Title.

Escrow: An account specifically for the purpose of holding funds from a timeshare buyer and a seller. A third-party presence overseeing transfer of funds can guarantee a degree of security during th . . . View Full Definition

Exchange: The process of trading intervals, credits or points at one resort for those at another resort, or in another unit at a home resort. This can allow owners to travel and vacation at various lo . . . View Full Definition

Exchange Company: An organization which exists to facilitate the exchange of banked timeshare weeks. The largest of these is RCI (Resort Condominiums International) followed by II (Interval International). In . . . View Full Definition

Exchange Confirmation: Notification that owners of timeshares and the host resorts receive regarding the unit they receive in exchange and the dates of occupancy.

Fee Simple: A type of timeshare ownership wherein the owner holds a deed in his/her name. Fee Simple is considered to be the opposite of right-to-use or lease ownership. This type of ownership continues . . . View Full Definition

Fixed Unit: The owner of a fixed unit timeshare property will always have the same physical unit each year, at the same location. However if this time period is fixed by week number (1-52), the actual s . . . View Full Definition

Fixed Week: A fixed week is a specific week during the calendar year usually identified by a number. Most fixed weeks begin on a Friday, Saturday, or Sunday. Each week is given a number starting with th . . . View Full Definition

Float Week: A floating week may be used any time during the calendar year based on a resort's availability. Typically, resorts will accept requests for specific weeks by the interval owner as soon as th . . . View Full Definition

Fractional Ownership: Timeshare ownership of two or more weeks at the same resort during a calendar year. Generally defined as ownership in intervals of more than one week and less than whole ownership. 'Fraction . . . View Full Definition

Gold Crown Resort: RCI's highest rating for a resort. Similar to I.I.'s criteria for 'five-star resort'.

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