Site Menu

Timeshare Glossary

 

Timeshare Glossary Page 1 of 4

Accelerated Use
Accelerated use refers to a program that permits someone to use their purchased time in increasingly larger increments.

Accrued Weeks
Any unused weeks from the previous year that have been banked and are available for use this year.

Ad Valorem
A legal term which translates to "according to value". This refers to assessment of property tax.

All-Inclusive Resort
An All-Inclusive resort is one that charges an additional flat fee for various activities, meals, beverages, services, and/or entertainment during your stay. Some timeshare resorts are Mandatory All-Inclusive, while others are Optional All-Inclusive. The All-Inclusive fee, and the included services, meals, activities, and/or entertainment, varies from resort to resort, and is subject to change without notice. When planning your vacation at an All-Inclusive resort, be sure to have a good understanding what is included and not included in that resort's All-Inclusive package

Amber (Yellow)Week
Mid season in the Interval International exchange network

Amenities
Features that add to the value of the property such as swimming pools, tennis courts, golf courses, spas, boating, fitness room, laundry facilities, etc. Generally speaking, the more amenities a resort offers, the greater the increase in value and desirability of the property.

Anniversary Date
The day on which earned points accumulate, once per year. This applies in the case of timeshare resorts offering a points system.

Appraisal
For real estate, an estimation of the worth of a given property, expressed as market value.

Appreciation
When applied to real-estate, the term "appreciation" means that the property has accrued value over time.

ARDA (American Resort Development Association)
Based in Washington, D.C., this is the foremost trade association representing the timeshare ownership and property development industries. ARDA advocates on behalf of resort owners and developers and also lobbies for the industry. ARDA was first known as the American Land Development Association, originally founded in 1969. Today, ARDA is comprised of nearly one thousand small companies and large conglomerates from all over the world.

Banking
Banking, when referring to timeshares, is the option to put away unused weeks, or points, to be used later.

Biennial
Usage of a timeshare week occurring every other year.

Blue Week
Low season in the RCI exchange network.

Bulk Banking/Block Banking
Banking a large amount of timeshare weeks with an exchange company as soon as possible.

Bonus Time
Bonus Time is time spent at your resort that falls outside of your allocated week.

Bonus Weeks
Extra weeks offered as incentives to buyers.

Check-In Date
The assigned date and day of week the interval week begins; usually Friday, Saturday, or Sunday. View our timeshare weeks calendar. The check-in day begins the seven-day interval week. For example, if the interval week begins on Friday, the week ends on the following Friday. The interval owner (or renter) need not always check in on the specific check-in day; however, late check-in does not extend the interval week beyond the scheduled checkout day. ** If you plan to be late, make sure to let the resort know in advance. Some resorts have strict check-in policies and may give away your room.

Closing Costs
Those costs associated with the closing of a sale process, usually including: deed preparation or transfer of equity for right-to-use properties, recording costs, escrow fee, and administrative fees.

Club/trust membership
Year-round usage of resort facilities with purchase, on a space available basis. This is the most generally used system of timeshare ownership in the UK and is growing in popularity everywhere else. Owners belong to a Club; their accommodation unit (and sometimes the leisure facilities) are held by Trustees who license a Right-to-Use to owners. Sometimes club membership is backed by a deed of ownership, sometimes it is not. (The escritura system in Spain is a deeded system, but deeded timeshare ownership is not legal in the UK and some other countries.)

Constitution
A document that establishes guidelines as to how the resort is run.

Cooling-off Period
The time given to a purchaser following signing of a timeshare purchase agreement, during which they may cancel without penalty. In the UK, the cooling off period is 14 days, elsewhere in Europe it is 10 days, in Mexico it is 5 days. In the USA, the period varies from state to state, but is typically three business days.                                

1  │ 2  │  3  │  4  │

Save Thousands of Dollars, Call Today!

800-555-1353

Back to previous page

Templates in Time