Terminology
Amenities
Camping
Membership
Closing
Costs
Deeded
Property
Fixed
Week
Floating
Week
Lease
Lockout
Unit
Maintenance
Fee
Odd
or Even Year Usage
Points
Amenities: (
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Features that add value to the
timeshare property. They include
swimming pools, tennis courts,
golf courses, boating, full kitchens,
laundry facilities, etc.
Camping Membership:
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A resort membership that specializes
in the specific needs of a camper.
Some camping resorts are affiliated
with organizations, such as
Coast to Coast, that provide
numerous camping resorts for
members in many other locations
nationally and internationally.
Closing Costs:
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Costs associated with the closing
process; usually including:
deed preparation or transfer
of a right-to-use properties,
recording costs, escrow fee,
and administrative fees etc.
Deeded Property:
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This type of property has the
same rights of ownership accorded
to it as other deeded real estate.
The owner may sell, rent, bequeath,
or giveaway the property.
Fixed Week: (
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A fixed week property assures
the owners that they have the
same week each year.
Floating Week:
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You reserve your time period
within the appropriate season
annually. Many resort maintain
a High, Medium, and Low Season.
Lease: (back
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A lease grants the purchaser
the right to use the property
for a specified period of time
allotted in their contract.
The usual lease term is from
30 to 99 years. The management
or resort entity holds ownership
of the resort property.
Lockout Unit:
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A unit that has the capability
of being divided to create two
separate but complete sections.
The owner of a lockout unit
can divide the unit and stay
in one half of the unit and
rent the other half or rent
both halves to different parties
Maintenance Fee:
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Maintenance fees are established
and collected by the Homeowners
Association or Resort Management
Company. This fee is used to maintain
the property, pay insurance, utilities,
and refurbishing. Maintenance
fees vary with each resort and
depending on the type and size
of the unit.
Odd or Even
Year Usage: (
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Ownership with usage every other
year. Either in even numbered
years or odd numbered years.
Points: (
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Timeshare ownership offered to
interval owners by resorts that
allows the owner’s 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
