TIMESHARE
GLOSSARY OF TERMS
"
The request window for your floating studio in Duluth
isn't maximizing your trading power..."
The Language of Timeshares
Need a quick refresher in Timeshare terms? It's often
difficult to navigate through the timeshare industry's
vocabulary! So here's a helpful guide that you can
use to understand some of the more frequently used
terms
in the business of timeshares. For your convenience
these terms are listed alphabetically below.
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 be passed on to your
heirs.
Deposit Window:
The 24 month time frame within which timeshare
owners are eligible to deposit their vacation
week in the
exchange pool.
Exchange Confirmation:
Notification that owners of timeshares and
the host resorts receive regarding the
unit they
receive in
exchange and
the dates of occupancy.
Floating Week:
A floating week is one where you contact
the resort to book a reservation within
the time
frame of
the season
you own. This timeshare booking is
done on the basis of availability so, to ensure
the
best
possible choices,
it is a good idea to reserve your time
as far in advance as possible. A High
Season Week
is designated
by the
resort as the time that they have the
greatest demand for use of their timeshares.
Instant
Exchange:
A vacation exchange conveniently made
by telephone for travel dates within
the next
2 to 45 days.
Leased or Certificate
Property:
The right to use your timeshare
for a specified number of years.
Certain
resorts
may allow
for accelerated
usage, which means that you'll
have a specified number of
weeks that you may use, but you may
use more than one week per year. Most
timeshares
in Mexico
are
of this type,
since the Mexican government
tries to prevent long-term foreign ownership
in
their vacation
cities.
Life Property:
A membership that allows usage
each year for the owner's
lifetime.
Maximum Occupancy:
The Maximum number of guests
that a timeshare unit
will accommodate.
Private Occupancy:
The number of guests
that a resort unit
will accommodate,
based
on two adults
per separate
sleeping area,
with private access
to a bathroom.
Request Window:
The 24 month time frame
within which
owners of timeshares
may submit
their vacation
exchange requests.
Standard Exchange:
A vacation
exchange
request made
by telephone
or
mail for
travel dates between
24 months
and 45
days prior
to the
week of travel.
Stock Company:
Resorts
issue
shares of
ownership
in
the
property or properties
they
sell. Instead
of
owning a deed
to
a property, you
own
shares
in
the
company, which
entitles
you
to vacation
time
each year.
Trading
Power:
The
value assigned
to a
member's deposited
vacation time.
Trading power
is the
basis upon
which the
system searches
for available
space in
the exchange
company.
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