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Timeshare Glossary

Timeshare ownership deeded one week per year.

Estimation of a property’s worth based on comparable sales, inapplicable to timeshare.

Banked Time
A timeshare week and/or points that has been deposited with either the resort, or an exchange company, to be used at a later date (usually 1 to 3 years from date deposited.)

Timeshare ownership that is deeded every-other-year.

Bonus Weeks
Additional vacation weeks used as incentives to timeshare purchasers; ability to transfer may be limited by resort developer.

Cancellation Window
The period of time, following retail purchase of a timeshare, a buyer has to cancel the purchase without cost or penalty.

Escrow Company
Financial Institution that temporarily holds funds from a timeshare sale/rental, until the transfer of ownership/usage has occurred.

Refers to the ability to trade a timeshare week (or points) for a week at another location.

Exchange Company
Third-party organizations, like Resort Condominiums International (RCI) or Interval International (II), that facilitate timeshare exchanges. Typically additional membership fees and/or exchange fees are required.

Fixed Week
Type of timeshare ownership limited to pre-specified dates every, or every-other, year.

Fixed/Floating Week
Timeshare ownership that's assigned a specific week number for deeding purposes only, and otherwise functions as a floating week.

Floating Week/Floating Time
Type of timeshare ownership that allows the owner to choose which week to travel, with no guarantees as to the availability of a specific week.

For-Sale-By-Owner Marketing Company
Third-party company that facilitates a timeshare resale/rental, but does not receive a commission from the sale/rental price, and takes no part in the negotiation of sale/rental price.

Gold Crown Rated
The highest RCI rating for a timeshare resort; similar to the II’s Premier Resort Rating.

Hospitality Awarded
Third tier of RCI awards for superior resorts.

Interval International
The second largest timeshare exchange company; headquartered in Miami, FL.

Alternate term for timeshare week.

Type of timeshare ownership that expires, or reverts to its initial owner, after a specified period of years.

Lock-out Unit
Timeshare with a floor-plan that can be split (or “locked-out) into two or more separate units.

Maintenance Fee
Annual or biennial fee paid by timeshare owners to maintain their home resort, cover resort operating costs, and provide homeowner’s/hazard insurance.

A numerical representation of a timeshare’s value; often used by vacation clubs in lieu of weeks.

Premier Resort Rating
The highest II rating available.

Resort Condominiums International, the largest timeshare exchange company.

Red Week/Red Time
Timeshare that is deeded in the “peak” season for a specific resort, or region.

Right to Use
Synonymous with Leased ownership; expires after pre-determined number of years.

Measure of demand for a specific resort, during a specific timeframe; used by resort developers to set retail pricing.

Select Resort Rating
II’s second-tier resort rating.

Silver Crown Rated
RCI’s second-tier resort rating.

Space Banking
Synonymous with Banking; system for accumulating timeshare weeks/points for later use.

Furnished accommodations deeded or leased in one-week intervals.

Timeshare Resale
The industry that facilitates transfer of timeshare ownership, or transfer of a vacation rental, from the original purchaser.

Trading Power
A measure of demand for a specific timeshare week and/or resort; higher demand indicating greater trading power.

Vacation Club
Flexible timeshare ownership giving each owner rights to multiple resort properties; usually involving ownership stake in a trust, rather than deeded property.

Vacation Ownership
Euphemism for timeshare.

Vacation Rental
Timeshare week available for rental; typically transferred via guest pass for the resort.