| Accommodation Certificate (AC) |
A bonus certificate given by Interval International (II), allowing members to book additional vacations without using their ownership week. |
| Affiliated Resort |
A resort that is part of an exchange network like RCI or II, allowing owners to exchange their week for stays at other affiliated resorts. |
| Annual |
Timeshare usage available every year. |
| Banked Week |
A week that is saved or “banked” with the resort or exchange company for future use, often with expiration dates. |
| Banking (Spacebank) |
The process of depositing a week or points with an exchange company for future use in exchange for stays at other resorts. |
| Biennial |
Timeshare usage available every other year. |
| Bonus Week |
An extra week that owners can reserve, often offered as a promotional benefit or reward. |
| Check-In Day |
The designated day of the week when timeshare owners or guests can begin their stay at the resort. |
| Closing Costs |
Fees associated with the legal transfer of a timeshare property from seller to buyer (e.g., title searches, legal fees). |
| Club Interval Gold |
A membership tier within Interval International allowing owners to convert their weeks into points for more flexible vacation options. |
| Club Membership |
Ownership within a vacation club, where members can book a variety of resorts within the club network rather than owning a specific week/unit. |
| Deeded |
Ownership in perpetuity, similar to owning real estate. The owner can sell, rent, bequeath, or transfer the property. |
| Deposit Trading Power (DTP) |
In RCI, the value of a deposited week when exchanging it for another stay. High-value weeks offer better exchange options. |
| Deposit Window |
The period during which an owner can deposit their timeshare week with an exchange company for future use. |
| Developer Sales |
Timeshares sold directly by the resort developer, typically more expensive than resales from previous owners. |
| Even Year Usage |
Ownership where timeshare usage is available during even-numbered years (e.g., 2024, 2026). |
| Exchange Capacity |
The availability of units or weeks at a resort in an exchange network. High capacity means more availability for exchanges. |
| Exchange Company Fees |
Fees charged by exchange companies like RCI or II for facilitating exchanges between resorts. |
| Flexchange |
Interval International’s last-minute exchange service offering access to units within 59 days of check-in. |
| Fixed Week |
An ownership type guaranteeing use of the same week each year, often designated by a number (e.g., Week 16). |
| Floating Week |
Ownership that allows the owner to reserve any available week during the year, though sometimes restricted by season. |
| Float (Number) |
A floating week tied to a specific fixed week or an arrangement where the owner has both a fixed and floating week. |
| Fractional Ownership |
Shared property ownership among multiple owners, with each owner having a fraction of the deed, often allowing more usage time than timeshares. |
| Getaway Weeks |
Discounted vacation weeks available for Interval International members without needing to exchange an owned week. |
| Guest Certificate |
A certificate allowing a timeshare owner to gift or permit someone else to use their timeshare unit. |
| Guest Pass |
In RCI, a pass allowing non-members (e.g., family or friends) to use a member’s exchange benefits and stay at an RCI-affiliated resort. |
| HOA (Homeowners Association) |
Manages resort maintenance, common areas, and operational duties. Owners pay fees to cover these costs. |
| II (Interval International) Exchange |
An exchange program allowing timeshare owners to trade their vacation week for a stay at other participating resorts. |
| Instant Exchange |
Interval International’s program allowing members to book available units immediately, typically within 59 days of check-in. |
| Internal Exchange |
An exchange within the same resort network or vacation club, allowing owners to visit different properties without using external companies. |
| Last Call Vacations |
Discounted, short-notice vacations available to RCI members, usually within 45 days of check-in. |
| Lockoff/Lockout Unit |
A timeshare unit that can be divided into separate spaces, allowing for more flexible use, such as renting one side and staying in the other. |
| Lock-Off Unit Deposit |
Interval International allows owners of lock-off units to deposit each side separately, providing up to two exchange weeks. |
| Maintenance Fee |
Fees collected by the resort or HOA to cover property maintenance, insurance, utilities, and refurbishments. |
| Membership |
Ownership in a vacation club rather than a specific resort, providing access to multiple resorts in varied unit sizes. |
| Odd Year Usage |
Ownership where timeshare usage is available during odd-numbered years (e.g., 2023, 2025). |
| Points |
Owners purchase points to use as currency to book vacations of various sizes, seasons, or lengths, and sometimes for other travel services. |
| RCI Exchange |
An exchange program (Resort Condominiums International) that allows owners to trade their week for stays at other participating resorts. |
| RCI Platinum Membership |
A premium RCI membership offering additional benefits such as travel discounts, early access to vacations, and upgrade options. |
| RCI Points Partner |
Programs that allow RCI members to use points for non-timeshare services, such as flights, cruises, and car rentals. |
| Redemption Points |
Points earned in a points-based system, redeemable for vacation stays or travel services like hotels and flights. |
| Resale Market |
The marketplace where timeshare owners sell their timeshare, typically for a lower price than buying directly from the resort developer. |
| Rescind (Right of Rescission) |
The legal right of a buyer to cancel a timeshare purchase within a certain time frame (usually 3-10 days), receiving a full refund. |
| Right To Use (RTU) |
A leased timeshare property granting the right to use it for a specific period (e.g., 30-99 years), after which the right reverts to the resort. |
| Season (Prime, Red, White, Etc.) |
Timeshares are often designated by season, which can affect usage and exchange power. Popular seasons have higher demand. |
| ShortStay Exchange |
Interval International’s program allowing members to exchange their week or points for vacations shorter than a traditional 7-night stay. |
| Special Assessment |
A one-time fee charged by the resort or HOA for extraordinary repairs or improvements. |
| Special Event Week |
High-demand weeks corresponding to holidays or special events, often requiring more points or having limited availability. |
| Special Season |
A resort-specific term used to further define prime seasons, often labeled as “Silver,” “Bronze,” etc. |
| Split Week |
Allows owners to divide their week into shorter stays (e.g., two stays of 3 and 4 days) for more flexibility in vacation planning. |
| Trade Power |
The value of an owner’s timeshare week or points in an exchange network, which determines what options are available for trading. |
| Trust-Based System |
A system where timeshare owners do not hold a deed but own a beneficial interest in a trust that manages the property. |
| Upgrade Fee |
A fee paid to upgrade accommodations, such as moving from a studio to a two-bedroom unit or switching to a premium resort. |
| Week |
Timeshare owners purchase a certain week at a resort, typically labeled by numbers that correspond to calendar weeks (e.g., Week 1 for January). |
