Timeshare Dictionary

Is it really big enough to be a dictionary? There are many different terms associated with timeshare and the concept of timesharing that the industry has spawned it's own timeshare dictionary. Well maybe not a dictionary, but at least worthy of a small section on our website designed to make learning about timeshare easier and perhaps a bit entertaining.

Glossary and Terminology

Know what you are looking for before you buy. We have listed these timeshare terms in our mini-glossary alphabetically for your convenience. Throughout our website we have linked single words or phrases directly to this page so learning as you surf will be easier. Next to each term below you will find a "Back" link that will return you exactly where you left off before landing on this page.

• Annual - This type of timeshare allows the owner to use it every year.
• Banked Week - A week reserved with either the resort itself or one of the other exchange companies currently on the market.
• Bi-Annual - This type of timeshare may be used every other year.
• Bonus Time - Use of your resort in addition to your regular allocated time on a space available basis.
• Closing Costs - Those costs paid during the closing process usually paid by new owner, similar to that of a typical real estate closing cost.
• Deeded Time - This is a week of time that may be sold or willed to future heirs. This week belongs to the owner.
• Exchange Company - A holding company specifically designed to "bank" unused weeks by timeshare owners.
• Exchange Fee - The exchange service fee that is payable to your exchange company upon making your exchange request.
• Fixed Week - A type of timeshare ownership in which the owner knows the specific week(s) of ownership.
• Floating Week/Fixed Rotation - Ownershipwhere specific weeks rotate between owners from year to year on a fixed schedule.
• Floating Week/Ownership Rotation - Weeks are negptiated between owners every year.
• Host Resort - The resort to which you travel on a vacation exchange.
• Interval - An assigned period of time.
• Interval International (II) - One of the largest exchange companies in the timeshare industry.
• Leased Time - This week is leased to the current owners and reverts back to the resort after the lease has expired.
• Lock-Out - This type of timeshare may be divided divided by a locking door allowing 2 families the opportunity to vacation together yet still provide for privacy by locking the door when necessary. Bathrooms are available on each side and sometimes small kitchenettes may also be available.
• Maintenance Fees - Similar to a Condo Fee or assessment. Must be paid yearly whether or not the unit was used.
• Odd or Even Year Usage - Timeshare ownership usage every other year-some odd-numbered, some even.
• Points - A system set up by the timeshare resorts to allow owners to accumulate a value to be used at other resorts.
• Quartershare - 3-month interval ownership with rotating schedule.
• Resort Condominiums International (RCI) -One of the largest exchange companies in the industry.
• Season - Colors are used to determine the desirability of that time of year. Blue Season is Good, White Season is Better and Red Season is the best.
• Spacebanked - The pool of all vacation time deposited by RCI and II members.
• Studio Unit - Similar to that of a hotel. No defined bedroom, usually sleeps two.
• Timesharing - A term used to describe the joint ownership of a resort property by several owners, each owning a different period of time.