Timeshare Glossary K-O

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.

 

Home Resort: The resort stated on your purchase agreement or deed that is provided by the company from which you purchased your timeshare interval.

 

Interval Week: An assigned period of time. Based on the interval calendar wherein the fifty-two weeks of the year are numbered sequentially: Week 01 through Week 52 or Week 53. A specific interval week is a seven-day period encompassing one of those fifty-two weeks.

 

Maintenance Fee: Maintenance fees are established and collected by the Homeowners Association or Resort Management Company to maintain the property, pay insurance, utilities, refurbishing and taxes. These fees vary from resort to resort and with the type and size of the unit purchased.

 

Odd or Even Year Usage: Timeshare ownership usage every other year–some odd-numbered, some even. The ownership of this type of interval is valued at one-half the value of a full ownership property since the use is restricted to one-half of the annual usage.

 

Points: Programs offered to interval owners by resorts that allow the owners 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.

 

Property Taxes: These may be included with the maintenance fees charged by the resort. Property taxes are regulated by the state in which the timeshare resort is located. Some states may not require property taxes to be paid on timeshare resorts, while others do.

 

Quarter share: 3-month interval ownership with rotating schedule.

 

Quit Claim Deed: Legal document used to release one person’s right, title, or interest to another without providing a guarantee or warranty of title.