CHAPTER 13

TIME SHARE GLOSSARY

  • DBW: Developer Bonus Week

  • EOY: "Every Other Year"

  • Floating Week:  Owner requests a desired date from the time share resort every year subject to availability at the time of request.

  • FK: "Full Kitchen"

  • FROR: "First Right of Refusal". Used by some resorts to control resale values.

  • GC: "Gold Crown". An RCI designation of their highest quality resort.

  • HGA points: Marriott Honored Guest Award points.

  • II: "Interval International", an exchange company.

  • Interval: One time share week.

  • LH: "Lease hold". Time share is deeded property on leased land.

  • Lockout: If allowed, a time share unit can be subdivided and used as two smaller units for the purposes of use or exchange. e.g.: a three bedroom unit might be split and deposited as one 2Br unit and one 1Br unit giving the owner two weeks for use or exchange.

  • Lurker: Non participating visitor to BBS sites.

  • OBO: "Or Best Offer".

  • MF: Maintenance Fee

  • Rack rate: Non discounted hotel room rate.

  • RCI: "Resorts Condominium International", an exchange company.

  • RID: "Resort of International Distinction". An RCI designation of their second highest quality resort.

  • Right of Recision: Time period after sale in which the buyer can cancel the sale.

  • RTU: "Right To Use". Time share ownership has an expiration date.

  • SFX: "San Francisco Exchange" , an exchange company.

  • Trade Power: A measure of desirability of a time share week for use in exchanging. Based on location, time of year and resort quality.

  • TUG: "Time share Users Group"

  • T/S:        Time share or ownership interval.

  • VEP score: "Vacation Exchange Profile". An RCI resort rating score (company confidential).

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