WHAT IS A TIMESHARE?
The exclusive right to vacation and enjoy ownership
at a specific timeshare resort, during a specific week
each year, for as long as you own it.
HOW IS A TIMESHARE DIFFERENT THAN A HOTEL?
Timeshares are more luxurious than most hotels,
offering a wide array of amenities and services.
Most timeshare units offer fully furnished kitchens,
living areas with TV and VCR/DVD and accommodations
for numerous family members. Activities are
available for children and adults. Most resorts
offer activities like; golf, tennis, swimming, horse
back riding, skiing and many other wonderful
activities to keep you and your family entertained.
HOW LONG DO I OWN THE TIMESHARE?
If you purchased a deeded timeshare than you own
the timeshare until you either sell or pass it down
to your heirs.
A leased timeshare property gives you the right
to use a week at the property for a specific number
of years typically ranging from 20-99 years. When
the lease matures, your property rights terminate
and returns to the selling resort.
WHAT IS A FIXED WEEK?
A set time that can be used annually. This allows
you to use the timeshare for that specific week for
as long as you own the timeshare.
WHAT IS A FLOATING WEEK?
Vacation week that may be used anytime during the
year based upon resort availability.
WHAT IS FLEX TIME?
You are only allowed to use the timeshare during
specific designated times of the year. This is
usually categorized by a color such as yellow,
green, red, blue or white. High and low seasons vary
from resort to resort.
WHAT ARE MAINTENANCE FEES?
Annual or bi-annual fees paid to the resort to
maintain and improve the timeshare. Owner fees are
pooled together to pay for capital improvements,
property maintenance, beautification, hospitality
staff, and general upkeep of the resort.
WHAT IS AN ANNUAL TIMESHARE?
Annual timeshare ownership allows the owner the
use of the resort every year.
WHAT IS A BI-ANNUAL TIMESHARE?
Bi-annual ownership allows the owner use of the
resort every other year.
WHAT ARE POINTS?
The points system is a form of timeshare
ownership. This system allows the owner to purchase
points to be used for travel during specific seasons
of the year. Points can be used as currently for
resort stays. The more points you have available,
the more desirable the resort you can stay at or you
may be able to upgrade to a large timeshare unit.
The number of points it takes to stay at a resort
depends on the resort location and time of year you
will be staying. Different resorts have different
ratings for high and low season.
WHAT IS A BANKED WEEK?
A timeshare week deposited in one of the many
exchange companies to be used at a later time.
WHAT IS A LOCKOUT TIMESHARE?
A timeshare that is divided into two separate
living spaces with two separate entrances. A lockout
can be exchanged for two weeks in a smaller unit.