Annual
Timeshare ownership deeded one week per year.
Appraisal
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.)
Biennial
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.
Exchange
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.
Interval
Alternate term for timeshare week.
Lease
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.
Points
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.
RCI
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.
Season
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.
Timeshare
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.