Ever wondered what certain timeshare terms mean, but never asked? We explain some timeshare terminology and help you fully understand your ownership.

Resale:

Timeshare ownership which is purchased by a third party directly from the original owner. Can also be known as pre-owned.

Floating week:

Timeshare ownership which can be used within a season period. A week is booked each year at the same resort by the owner in accordance to the date they wish to holiday, subject to the reservation made within the season period their ownership covers. e.g. Silver, Gold, Platinum, High and Low season. Each season relates to a certain period of weeks/months per year.  

Fixed Week:

Timeshare ownership which can be used each year and at the same week at the same resort.

Fixed Apartment:

A reservation at a resort which is assigned to the same
specific unit/room number each year.

Floating Apartment:

A reservation at a resort which is not assigned to a
specific unit/room number each year and is allocated upon availability.

Fractional Ownership:

Similar to a timeshare but actually is sold in intervals, more than one but less than the entire purchase. You purchase options of at least one thirteenth of the property, with a maximum of twenty five percent ownership. When the leasehold expires on this property, unless owners want an extension, the property is sold and all owners receive a share of the sale proceeds.

Annual Usage:

Timeshare ownership week(s) which are available to use every year.

Bi-Annual Usage:

Timeshare ownership weeks) available every other year. Often referred to as an ‘odd’ or ‘even’ week usage.

Developer:

This
is the company who owns the resort and is responsible for the management and on
site facilities.

Lock-off:

A
timeshare unit which has multiple living and sleeping areas. The unit can be
used as one large unit or split into two separate units.

Maintenance Fees:

A
yearly fee all timeshare owners are required to pay to the developer or Management
Company to cover the costs of running the resort, maintenance and daily
management. 

Banked/Deposit:

This refers to the placement of timeshare week(s) into either an inventory pool or an exchange company such as RCI, Interval International or Dial an Exchange. These can then be used at a later date at your convenience.

Exchange Company:  

Exchange Companies operate a system that allows timeshare owners to bank their week into a inventory pool and exchange their week for a different resort or travel related service. Some resorts operate an internal exchange programme that allows an owner to use a different resort within the developer’s portfolio.

Timeshare Points:

An
amount of points purchased to be used each year at various timeshare locations
within the developers portfolio. Resorts have various points values, depending
on the season, unit size and location.

Constitution:

A
legal document specific to each resort which details the rules by which the
resort is run and what an owner should expect from the resort.

Guest Certificate:

A document
which allows owners to rent out or let friends or family use the unit rather
than them.

Escrow:

An
escrow account is an independent account where funds are held in trust whilst
two or more parties complete a transaction.  The purchase money is held
until confirmation that the transfer of ownership has completed.  If the transfer of ownership is unable to
complete due circumstance the funds are returned to the buyer.*

Gold Crown Resort:

 A Gold Crown Resort is the highest rated resort category within RCI. Gold Crown Resort also Interval International’s “Elite Resort” category represent the highest level of luxury, quality and service.

Safe Hands Guarantee:

Travel & Leisure Group’s own personal assurance to the buyers and sellers that they are an affiliate of industry authorities such as ARDA and RDO.  This means that you can trust their company to follow all relevant legislation and guidelines.

————————————————————

It is vital to know as much about timeshare as possible when buyers are looking to purchaser their first timeshare ownership or looking to add to their portfolio of properties. As a independent resale company who you can trust, Travel & Leisure Group will offer unbiased views and work with buyer to find the best offers available.

Travel & Leisure Group adhere to all codes of ethics and EU/UK timeshare legislation. If you are looking to sell your week, points or fractional ownership then contact us.

They are the oldest independent European Resale Brokerage
Company with over 27 years of international trading with multilingual
staff who speak most European languages and as such are able to assist
almost any owner.

*Furthermore, Travel & Leisure Group are the only timeshare resale broker who hold an Escrow account with First National Trustee Company (FNTC) who are world’s leading provider of business solutions and legal structures for resort developments