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Abstract of Title
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Accelerated Use
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Accrued Weeks
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Ad Valorem
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Advance Fees
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Affidavit
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Amber Week
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Amenities
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Anniversary Date
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Appraisal
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Appreciation
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ARDA (The American Resort
Development Association)
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Banking
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Be-Back
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Benefits of Ownership
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Biennial
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Blue Week - RCI's term
for a low demand week at a timeshare resort. It is the exact equivalent of
Interval International's Green week.
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Block Banking (Bulk
Banking) -
Depositing a large number of weeks into the exchange company "bank" at the
earliest time possible.
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Bonus Time -
Use of your resort in addition to your regular allocated time on a space
available basis. A Developer Bonus Week (DBW) is available to members who
own at participating resort. These bonus weeks are issued directly from the
resort, often issued as a signing bonus upon the purchase of a timeshare
interval. Sometimes owners can purchase bonus weeks from the resort as
unsold developer-owned weeks.
A second type of bonus week is one issued by an exchange company. Owners of
high-demand resort weeks receive them as incentives to deposit their
timeshare week.
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Bonus Weeks - These
weeks are generally the lowest value, off season resort weeks often offered
as an incentive by a developer or other marketing entity, among other
outlets; they cost about $300 each. Bonus weeks are a great opportunity in
certain circumstances, and may be purchased by owners direct from the
exchange company.
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Camping Membership -
A membership to a resort or resort community catering to campers, some of
which are affiliated with national organizations providing camping locations
for members in many states and other countries.
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C.A.R.E. -
Cooperative Association of Resort Exchangers. A trade association
established in 1985 comprised of resort developers, independent exchange
companies, management companies, travel clubs and resort service companies.
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Check-In Date -
The assigned date and day of week the interval week begins; usually Friday,
Saturday, or Sunday. (You
will find a calendar here)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.
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Check-In Time
-The assigned hour an interval week begins; usually 3 -00 PM, 4 -00 PM, or
occasionally 5 -00 PM prevailing time. The interval owner need not check in
at the precise time; however, late check in does not extend the interval
week beyond the assigned check out time. Check-out time is normally 10 -00 AM
or 11 -00 AM prevailing time on the seventh day following check-in. [Example
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check-in on Saturday at 4 -00 PM and check-out on the following Saturday at
10 -00 AM].
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Closing Costs -
Those costs associated with the closing process, usually including - deed
preparation or transfer of equity for right-to-use properties, recording
costs, escrow fee, and administrative fees.
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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 United Kingdom 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 licence 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.)
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Constitution -
The collection of inter-related legal documents establishing the
relationship between timeshare owner, developer, trustee and management
company. Effectively the rules by which the resort is run.
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Cooling Off Period -
The time given to a purchaser following signing of a 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. See
Rescission
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CTLS - The computerized
information system used by buyers, sellers and cooperating brokers for the
purpose of resale and rental of resort properties worldwide.
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Day of Use - Owner
usage of the resort's amenities while not in residence.
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Deed -
A legal document providing title to your property; gives you your ownership
rights. See Fee Simple.
(The escritura system in Spain is a deeded system, but deeded timeshare
ownership is not legal in the UK and some other countries. See
Club/Trust Membership.)
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Deeded Timeshare
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Deed Recordation -
Arizona law considers delivery of the deed to be the actual transfer of
title, and recordation of the deed notice to the world that there is a new
owner; consequently recording the deed immediately is important.
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Deposit Window - The 24
month period in which owners may deposit their vacation weeks into the
exchange pool.
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Depreciation - Refers
to loss in value of real property. Timeshare properties do not depreciate
per se; however, they seldom command a price in the resale market comparable
to that originally paid in the developer's sales center.
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Developer's Price -
The developer's current or market price for a timeshare interval. Full
retail price. Includes the developer's marketing costs, etc.
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DOS - Director of Sales--
The head sales manager, in charge of managing the sales process and all of
the timeshare sales reps in a sales room. The actual duties will vary
depending on the hierarchy at specific resorts or companies.
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End-user Finance -
Provision of a loan to enable an owner to purchase a timeshare. Some finance
agreements are personal loans (without security) while others are loans
secured by the timeshare week or, occasionally, by a mortgage on the
principle residence.
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Escritura -
The Spanish term for the deeding and registering of a ‘Deed of Title’.
Similar to registration of the Land Registry in England and Wales.
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Escrow -
A special secured account used to hold funds from the buyer and the seller
related to closing of purchase and/or sale of a property.
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Exchange (Exchanging) -
The process of trading an interval week at one resort for an interval week
at another resort or trading a specific week at the home resort for another
week at the same resort. The exchange system allows an interval owner to
trade their week with other interval owners thereby allowing each owner to
travel and vacation throughout the world. Some resorts have internal
exchanges with other resorts which are usually owned by the same company. An
example of this would be Sunterra Resorts.
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Exchange Company -
A company or organization that accepts timeshare weeks on deposit from its
interval owners/members to establish a pool of weeks from which other
members may select the resort and vacation times of their choice. When a
member deposits their week with an exchange company, the company compares
the week the depositor is asking for with weeks deposited by other members
and provides a suitable match based on availability and value. Factors
affecting the exchange value are - the resorts' rating, the time division;
i.e., prime time versus low time, the size of the unit desired, etc.
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Exchange Confirmation -
A written notice provided to both the owner and the resort stating that the
exchange request has been received and approved for a particular occupancy
date.
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Exchange Program -
means any method, arrangement or procedure for the voluntary exchange among
timeshare interval owners of the right to use and occupy accommodations and
facilities in a timeshare project. Exchange program does not include an
assignment of the right to use and occupy accommodations and facilities to
purchasers or owners pursuant to a multi-site project reservation system..
The exchange programs are most successful for those flexible in their
vacation planning. Restricting demand to a specific date/week or resort may
reduce the chances of obtaining an exact request.
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Exchange Season -
Refers to the system(s) used to establish an exchange value for interval
weeks; and is usually based upon desirability of the time of year, typical
weather expectations, holidays and special local events. RCI uses .Red.,
.White. and .Blue. time (in descending order) designations to refer to
desirability; Interval International uses .Red., .Yellow. and .Green. in the
same manner; other exchange companies use the designations .High., .Medium.
and .Low.. Some locations and/or resorts are considered .prime. year-round,
due to climate or demand. Most Arizona resorts are in this category.
Occasionally resort developers and exchange companies do not agree on the
designation for a resort property; verifying the exchange status of your
resort with the selected exchange company before membership can eliminate
any discrepancies. NOTE - vacation demands can vary from year to year and
exchange companies occasionally establish new starting and ending dates for
specific resorts or locations. It is wise to consult a current Resort
Directory Interval Calendar for actual season dates at a particular resort.
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Exchange Values - A
high exchange value results from - A popular locale A popular time of year An
early submittal and request A high quality resort A low exchange value
results from - An unknown locale An unpopular time of year A late submittal
or request A low quality resort.
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Exit Program -
Usually, a reduced cost package/trial program offered to a customer who is
on the point of walking away. This serves two purposes - it rescues something
for the salesman and entices you to use the resort's facilities in the hope
that they will get another crack at selling you.
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Factoring Fee (‘Factorial’)
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The Scottish term for the Management Company profit mark-up included in the
Management Agreement.
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Fee Simple -
The preferred type of real estate ownership. This type of interval ownership
is the opposite of Right-to-Use or lease ownership and continues forever.
The owner holds a deed in his/her name and the ownership of the property can
be bequeathed to heirs.
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Financing - Usually
provided in developers. sales centers, offering terms of 12 to 18% interest
on a 3 - 7 year mortgage; and some lenders now offer funding for the resale
market. Most reputable Licensed Real Estate Brokers specializing in
timeshare can provide financing resources with similar terms. (See our LINKS
section) Purchasers often obtain 100 % financing through credit card
purchases; interest rates can be attractive, and there is no prepayment
penalty. Some sellers are willing to consider seller-financing, generally
accepting terms of 30% down, 10% interest, and 36 month payment schedule.
Assuming the seller.s existing mortgage is seldom an option.
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Five Star Resort -
Interval International uses the 5-Star designation for their finest resorts.
It is equivalent to RCI's "Gold Crown Resort".
These are
timeshare resorts that offer only the highest level of accommodations and
services. The properties offer a high degree of personal service. The resort
locations can vary from the very exclusive locations of a suburban area, to
the heart of downtown. The amenities often include - VCR's, CD stereos,
garden tubs or Jacuzzis, in-room video library, heated pools and more.
Fitness Centers and valet and/or garage parking are typically available. A
concierge is also available to assist you.
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Fixed Unit -
A time period that is fixed for each calendar year, either by date or by
calendar weeks; most in numerical sequence 1-52. With a week number, your
actual start date may vary slightly from year to year. Unlike a floating
unit, a timeshare owner who owns a fixed unit at a resort will always
vacation in the same physical unit each year he/she vacations at that
resort. This type of ownership is particularly important if you have
purchased, for example, an oceanfront
property with the ocean at your door step and are not willing to vacation in
an ocean-view
unit. A fixed unit property assures the owner that he/she will always have
the exact location and the exact unit they have purchased.
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Fixed Week -
Referring to the interval calendar, the purchase of a fixed week property
assures the owners that they will always have the same week each year; i.e.,
week 52 or week 35, etc. Alternatively, an owner of a floating week may
choose another week within their season allocation. A floating week owner
may also elect to upgrade or downgrade to another season allocation to meet
their annual vacation schedule. Upgrading to a higher time division usually
incurs an additional cost.
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Floating -
Your time period is defined by a season and your week period is not fixed.
You reserve your time period within the appropriate season annually. Most
resorts have a High, Medium, and Low Season. Owners of a floating unit at a
resort might not vacation in the same physical unit each year. Interval
owners may request a specific unit and if it's available for that particular
week the resort normally will honor the request. Floating week based on fixed
rotation - a type of timeshare ownership in which specific weeks rotate
among owners from year to year on a fixed schedule. Common with fractional
ownership interests/private residence clubs. Floating week based on ownership
rotation - a type of ownership in which the owner purchases week(s) and
works out the appropriate vacation time with the other owners on a
rotating basis each year.
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Floating Unit - Means
the vacation accommodation unit available to an owner may or may not be
the unit they actually own. This ownership type is popular because it
provides more availability to owners.
Floating Week/Time
(also called "flex" time) - The purchaser
of a floating week has the flexibility of scheduling their vacation interval
with yearly variations in accordance with the resort's guidelines.
Typically, resorts will accept requests for specific weeks by the interval
owner as soon as the annual maintenance fees are paid. Therefore, the
earlier the maintenance fees are paid the better the chance that the owner
can pick a specific interval week.
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Fly-Buy -
A mini-vacation package where the resort pays all or most of the holiday
costs of a prospective purchaser in return for that prospect attending a
sales presentation. See Mini Vac.
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Fractional -
Multiple week ownership at the same resort--2 or more weeks of timeshare
ownership for use in one calendar year.
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Fractional Package -
Annual multiple-week ownership at one resort, usually no more than five
weeks (PLEASE NOTE - 12 weeks of ownership or more in one resort may subject
the owner to Arizona Subdivision Law and Regulations . and this could be
very costly when selling them).
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Gold Crown Resort -
RCI's highest rating for a resort. This is similar to Interval
International's "Five star resort" designation.
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Guarantees - Offered
with the provision of timeshare resale services are often of little value,
unrealistic and possibly fraudulent. Most state Departments of Real Estate
discourage or do not allow Licensed Real Estate Brokers to make such
assertions regarding real estate transactions. If you are offered a
guarantee, ask that it be put in writing and review it carefully with a
Licensed Real Estate Broker before making your decision.
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Guest Certificate -
A certificate issued by the resort's affiliated exchange company authorizing
a nominated guest to use an exchange instead of the owners.
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Hacienda -
The Mexican and Spanish Tax Office.
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Heat Merchant -
A sales person who is willing to tell even the most outrageous of lies in
order to make a sale.
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HOA/POA (Home Owners
Association/Property Owners Association) -
When a resort is sold out or approaching sell out its ownershio is generally
turned over to an HOA or POA consisting of the timeshare owners of the
resort, with an elected board to administer the rules and regulations.
Sometimes a sold out resort will hire an outside management company to
operate the resort, collect maintenance fees, etc.; sometimes the developer
maintains management rights.
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Holiday Club/Vacation Club
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A "club" which provides a number of weeks holiday, usually in timeshare
apartments. These Clubs are generally not covered by the laws regulating the
sale of timeshare and are often not able to fulfill their promises. See
Consumer Alerts.
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Holiday Ownership -
Another term for Timeshare.
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Home Resort - Means the
actual resort at which one owns vacation interval property or the resort of
ownership, from which one deposits vacation weeks into the exchange
company's spacebank.
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II (Interval International)
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In-House Reps -
Sales staff employed to sell to existing owners who are staying at the
resort. See IPC
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IPC (Internal Personal
Contacts) -
Sales staff employed to sell to existing owners who are staying at the
resort. See In-House.
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IVA -
Abbreviation for Spanish Value Added Tax.
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Instant Exchange -
Services allow owners to conveniently request interval exchange
accommodations on short notice (2 to 45 days into the future). Instant
exchanges also waive size and season requirements applied in the standard
exchange process, which effectively allows members to utilize larger, more
luxurious accommodations for short-notice vacations.
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Internal Exchange -
Refers to the process of exchanging a timeshare week within the resort or
developer.s own resort network or Club Membership system. NOTE - the Internal
Exchange Fee is required only for the exchange of fixed weeks in most
circumstances.
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Interval -
An assigned period of time. Based on the interval calendar wherein the
fifty-two weeks of the year are numbered sequentially - Week 01 through Week
52 or Week 53. A specific interval week is a seven-day period encompassing
one of those fifty-two weeks.
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Interval Calendar -
An annual calendar depicting the fifty-two or fifty-three weeks of each
calendar year showing starting days of Friday to Friday, Saturday to
Saturday, and Sunday to Sunday, check in dates. View
a calendar here.
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Interval Ownership - Is
the term used by developers and sales centers to introduce the concept of
Floating Time and Floating Weeks, and distinguish it from the original
timeshare product, which was often Fixed Weeks in Fixed Units.
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Kitchen Types -
Includes no kitchen; partial kitchen (providing some basic items);
mini-kitchen (provides all basics, some mini-size); and full kitchen
(offering full facilities, full-size appliances and table seating for all
occupants).
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Lease/Leasehold -
Some states and some foreign countries do not allow deeded ownership of
timeshares. Alternatively, a lease ownership or Right-To-Use (RTU) ownership
grants the leasor the right to use the property for a specified period of
time; usually from 20 to 99 years. Ownership of the physical property is
held by the resort developer or management company. Most properties in
Hawaii, for instance, are leasehold properties. The same is true in Mexico.
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Levy -
In a points club, the annual charge to members to pay for administration of
the club in addition to any management charge or supplementary management
charge made for actual use of a week. Also a one-time charge made to owners
by an Owners Club or Management Company to pay for major or unexpected
costs. See Special Assessment
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Linked Agreement -
In the UK and Europe a this is method of getting around the law banning the
taking of deposits. The Timshare Purchase Agreement, in which no deposit is
shown, is linked with another (which might be a holiday voucher [aka - a
"cert"] or some other holiday scheme) which is, in reality, the deposit. The
two agreements appear to be separate, but in reality they are linked.
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Lockout/Lock-off Unit -
Typically, a unit which has the capability of being divided to create two
separate but complete sections. If an owner buys a lockout unit, he can
divide the unit and either stay in one half of the unit and rent the other
half or rent both halves to different parties.
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Lug -
At Any time, obtaining a "premium" or higher price for a timeshare week than
the developer is currently asking.
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Maintenance Fee -
Maintenance fees are established and collected by the Home Owners
Association or Resort Management Company to maintain the property, pay
insurance, utilities, refurbishing and taxes. These fees vary from resort to
resort and with the type and size of the unit purchased. The cost of resort
operation is spread among owners. This fee must also build up reserves to
pay for non-recurring costs like furniture, appliances etc. that need
periodic replacement and other capital costs as normal physical
deterioration occurs. Note - During the active sales period, maintenance fees
may be temporarily subsidized by the developer as a marketing tool. When the HOA takes over, fees may rise to unsubsidized levels.
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Management Company -
The company contracted, usually by the Owners Club/HOA, to carry out all the
day-to-day management of the resort. Very often owned or controlled by the
developer. See HOA/POA
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Management Fees -
The fees, usually paid annually, by each owner or points club member to
cover the costs of running the resort on a day-to-day basis.
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Marketing Company -
A separate company from the developer responsible for marketing. Sometimes a
developer will manage the on-site marketing and employ a separate Marketing
Company to manage off-site marketing.
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Maximum Occupancy -
The maximum number of persons an interval unit will accommodate; usually
from 2 to 10 persons. Maximum occupancy is typically expressed in
conjunction with "private occupancy" referring to the number of persons the
unit will sleep privately and the number of bedrooms within the unit.
Configurations of units vary from resort to resort.
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Mini Vac -
A mini-vacation package where the resort pays
all or most of the holiday costs of a prospective purchaser in return for
that prospect attending a sales presentation. See
Fly-Buy.
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Mooch -
A term used by timeshare sales people to describe prospective buyers who are
attending a sales presentation only for the gift, with no intention of even
considering a purchase. This is one of the more flattering terms (relatively
speaking). There are other industry terms for such people, but they are
mostly unprintable. A professional
mooch is someone who makes a
regular practice of doing this.
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Nosebleed drop -
A sales term for quickly dropping the initial stated price a precipitous
amount without much haggling in between.
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NQ (Not Qualified) -
A term for prospects who do not fit the qualifications profile outlined by a
resort or marketing company trying to make a sale.
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Odd or Even Year Usage -
Timeshare ownership usage every other year--some odd-numbered, some even.
The ownership of this type of interval is valued at one-half the value of a
full ownership property since the use is restricted to one-half of the
annual usage.
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OPC (Off Premises Contact;
Outside Public Contact) - a
marketing term used to describe people who approach potential buyers on the
street and offer an incentive, such as a gift or tickets to a local
attraction, to visit a timeshare project or sales booth to find out more
about purchasing options.
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OTE (Organistaion for
Timeshare in Europe) - The European equivalent of
ARDA, but more consumer oriented.
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Owner Referrals -
Resorts that are in active sales often have special vacation promos that
they offer through their current owners. The owners are encouraged to submit
referrals and will receive various incentives from the resort for their
leads.
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PD - The Project Director,
who is, at least theoretically, in charge of running all the other
departments at a timeshare resort. The actual duties will vary depending on
the hierarchy at specific resorts or companies.
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Points -
Programs offered to interval owners by resorts which allow the owners choice
and control over when and where they vacation or for how long or short they
stay. Points are a symbolic unit of measure having no intrinsic value
separate and apart from interval ownership.
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Points Clubs -
A timeshare system where ‘owners’ hold points which entitle them to use a
period (varying from a few days to a few weeks) every year from a choice of
resorts. Sometimes points are backed by an actual deed, sometimes they are
not.
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Property Bonds -
A system similar to Points clubs for owning shares or bonds in a company
owning properties.
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Qualified prospect -
Consumers who fit the profile that the developer and/or marketer considers
are most likely to buy timeshare.
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Quartershare -
3-month interval ownership, with a rotating schedule.
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Rescission -
A period of time granted by company policy and state statutes during which a
person has the right to cancel a purchase contract for a timeshare without
incurring a penalty. The person also receives a complete and full refund of
his deposit. Rescission periods vary from state to state. See
Cooling-off period.
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Resort Ratings -
A system of comparison of resort quality, amenities, and location. The two
foremost rating systems are Resort Condominiums International (RCI),
Interval International (II). RCI and II rate their affiliated resorts based
upon predetermined criteria of exacting standards of quality and services
provided by the resort as well as the availability of amenities at or near
the resort. RCI uses the Gold Crown designation for their highest quality
resorts and Resorts of International Distinction for second-level resorts.
II designates their top resorts as 5-Star resorts.
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Recourse Agreement -
An agreement between a Finance Company and a Developer where the Developer
pays off any outstanding debt if a purchaser financed by the Finance Company
defaults on a Finance Agreement.
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Red week -
see Season
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Repossession -
The removal of rights to use by a Club (or Management Company) for breach of
the Constitution (usually non-payment of Management Fees) and the sale of
those rights to recover any debt. Deeded property cannot normally be
repossessed.
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RCI (Resort Condominiums
International)
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RCI Community
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Right To Use (RTU) -
Occupancy rights for a specified number of years, with no ownership interest
in the property. Some states and some foreign countries do not allow deeded
ownership of timeshares. Alternatively, a lease ownership or Right-To-Use
ownership grants the lessor the right to use the property for a specified
period of time; usually from 20 to 99 years. The resort developer or
Management Company holds ownership of the physical property. However, during
the right-to-use period, the owner may rent, transfer, or bequeath the
remaining years of their right-to-use property.
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Sales Inspection Visit (‘SIV’)
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Developer term for prospective purchasers to stay at a resort for a few
days, for a low cost, on condition they attend a sales presentation.
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Special Performance
Incentive Fund ('SPIFF') - An industry term for a
bonus, usually given in addition to a general commission, paid to a
salesperson after making a sale.
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Season -
Exchange Company division of the weeks in a year into popular (Red),
shoulder (White for RCI or Amber for II) and off peak (Blue for RCI or Green
for II) for the calculation of trading power in exchanges. Each resort may
have different seasons depending on the geographic position etc.
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Sinking Fund -
A portion of the Management Fee specifically dedicated to ensuring that the
main structure, furniture and fittings of accommodation units (and sometimes
leisure facilities) are kept in an ‘as new’ condition for the full period of
ownership.
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Space banking -
Depositing a week of owned timeshare with an exchange company. See Banking
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Special Assessment -
A fee over and above the annual maintenance fee assessed by the resort pro
rata to interval owners. This fee is, when assessed, is intended to defray
expenses related to major repairs and refurbishing of resort equipment,
facilities, and units.
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Timeshare
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TATOC (common usage) -
The Association of Timeshare Owners Committees .
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Time Division -
A system of establishing the value of an interval week typically based upon
season. For example - a week 3 (Mid January) purchased at a New England beach
resort would not hold the same value as a mid-summer week at the same resort
due to the fact that the season in January is not conducive to vacationing
on the beach. Time divisions are expressed as high time or red time meaning
prime time, white time or medium time meaning medium desirability, or blue
time or low time meaning the least desirable time. Some resorts such as
Hawaiian resorts consider all weeks as prime time since their tropical
climate permits pleasant vacations throughout the calendar year.
Additionally, many resorts offer year-round activities, often referred to as
four season resorts, in which the owner may participate in a variety of
seasonal activities. Other factors that affect the interval week's
desirability would be holidays and special local events.
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Trading Power -
The assessed value of an interval week when trading or exchanging for
another week within the same resort or at a different resort. In some
situations, the owner of a red week at an RCI Gold Crown resort can trade
that week for two or more weeks at a resort of lessor distinction or for
weeks in a lower time division. Supply and demand rules prevail in this type
of exchange and the owners can greatly enhance their trading power with high
demand weeks and resorts.
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Trustees -
A bank, trust company or a group of individuals who hold timeshare
accommodation (and sometimes leisure facilities) ‘in trust’ on behalf of the
owners and grant owners a ‘right –to-use’ through a licence (‘Ownership
Certificate’). Trustees provide security for owners in the event that a
developer fails financially. Some trustees may have added responsibilities
such as ensuring the continuity of the Owners Club.
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Unit Size -
Normally expressed as hotel unit, studio unit, and efficiency unit or by
number of bedrooms. Hotel units, studio units, and efficiency units
typically are a single room with sleeping accommodations and perhaps a small
built in kitchen and sleep from two to four persons. One, two or three or
more bedroom units are usually condominium style accommodations and feature
a partial or full kitchen and other living areas.
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VPG - Value per Guest
(Also called the room- or personal-
efficiency) -- This measures how
efficiently a sales force is doing. You take the dollar volume of your sales
and divide it by the total number of guests you toured, and it tells you
your VPG. The higher the VPG, the better you are doing. For instance - say
that in a week's time you have 7 tours. You sell one of them a deal for
$12,000. Divide 12,000 by 7 and you get 1,714.29. Your VPG is 1714. (Dollar
volume divided by number of guests= VPG)
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Week 53 -
Almost all Calendars contain only 52 weeks of use in a year - but roughly
every seven years there is an extra week, week 53 which is generally
reserved for the use of the Developer/Founder Member.
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