Terminology
Amenities
Camping
Membership
Closing
Costs
Deeded
Property
Fixed
Week
Floating
Week
Lease
Lockout
Unit
Maintenance
Fee
Odd
or Even Year Usage
Points
Amenities: (back
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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: (back
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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: (back
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Ownership with usage every other
year. Either in even numbered years
or odd numbered years.
Points: (back
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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
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