Banking: Depositing a week of timeshare into an exchange "bank."

ClubPoints: ClubPoints are the annual currency the Grand Hilton Vacations Club gives its members to spend on their vacation options. They can be borrowed from or saved to next year's account.

Developer: The company owning the resort that constructs the accommodations and amenities on site.

Exchange: The system that allows timeshare owners to trade the accommodations they own for comparable accommodations or travel-related services.

Fixed week: A type of timeshare ownership in which usage rights attach to a specific week of the year each year in perpetuity.

Floating week: A type of timeshare ownership in which the owner owns a week within a season.

Homeowners Association (HOA): The group of owners that administer the rules and regulations at a resort.

Home resort: Where a new owner has purchased his or her week or joined a club or point-based program.

Maintenance fee: A fee, usually paid annually, that timeshare owners pay to cover the costs of running the resort on a day-to-day basis (upkeep and improvements).

Season: Time distinctions into which deposited vacation time is divided based on demand. A key component of trading power, as each resort may have different seasons depending on the geographic position, etc.

Timeshare: A term used to describe the right and joint ownership of a resort property (e.g., a condominium) shared with others. Each "owner" owns a certain period of time and occupies a unit of accommodation on a regular basis for a number of years. Timeshare is sometimes referred to as "Vacation Exchange," "Holiday Ownership," "Multi Ownership" or "Group Ownership."

Timeshare interval: Period of use typically one week.

Vacation ownership: A term often used to describe resort timesharing.