Timeshare Glossary A-D

We collated this Timeshare Glossary to help you become familiar with many of the common and sometimes confusing words and phrases used in the timeshare industry.  If you have any timeshare questions, do feel free to use the contact us link to ask a question.

 

Accrued Weeks: The number of weeks that have accrued from the prior year and are now available for use in the current calendar year. Simply put, accrued means the number of timeshare weeks that you have banked from previous years that you can use his year.

 

Affiliated Resort: A developer or timeshare resort, that is partnered with or owns resorts in more than 1 location. This allows timeshare owners to use their week (or accrued weeks) at the affiliated resorts, commonly found with vacation clubs.

 

Amenities: Features that add comfort, convenience, and enjoyment all add to the value of the property. Outdoor pools, full service marinas, golf courses, shuttle service, full kitchens, free high speed internet, complimentary breakfast, etc. More amenities = higher value and desirability which makes it easy for you to trade or donate to charity.

 

Bank or Banked: When an owner decides to not use their allocated time for the current year they can “bank” their time with a timeshare exchange company to use at a later date.

 

Biennial: The time assigned to use your timeshare is on an every other year basis. Every 2 Years.

 

Current Market Value: Current or Fair market value is determined by recent sale prices of similar timeshares. One advantage when you donate a timeshare is that the size of the tax deduction is determined by the current market value of the timeshare, as opposed to the cost of the timeshare when it was purchased (Moreover, when you donate a timeshare instead of selling it outright, donors can avoid paying brokers’ fees.)

 

Deeded Property: A deed is a legal document which is used to transfer from a person or entity ownership interest providing the title to your property to another. It is used anytime someone buys, sells, gifts or donate real estate. The deed is usually recorded in the county or country where the property exists. The owner may sell, rent, or donate timeshare to charity.

 

Developer: A company that owns the timeshare resort.