There are many different types of timeshare, below are the most recognized.
Deeded: You will have a recorded "Deed" with this type of ownership. Your period of ownership is forever.
Right-to-Use: This type of ownership is for a set amount of time. After the agreed time of ownership expires, ownership converts back to the Developer. During your ownership, you can convey your ownership to another party.
Membership: This is not an ownership; it is a "Membership". You pay a sum of money to buy into the membership plus there are annual membership fees. Be very cautious of this type of Timeshare. Usually the language in the membership agreement states: if you miss one of the annual payments, your membership will terminate. Some of these memberships can be transferred, some cannot.
UDI: Undivided Interest - usually deeded, floating or flex periods. Be aware that you basically own "stock" in a resort not a specific time period.
NOTE: Some Resorts also offer biennial ownership. (Check your paperwork)
POINTS: Points based resorts can be deeded, right to use, memberships or UDI. Point based resorts can allow you to split points where you can break up your week.
Periods of Timeshare Ownership
Usually your time share period is numbered from 1-52. Week "1" starting in the first week of the year. Week "52" being the last week of the year. (See calendar in border)
There are also "Floating/ Flex" periods. These can be divided into seasons. If your ownership is for a Floating/Flex period, you can check-in on different dates according to your ownership.
Although there are many exchange companies, they all work on the same basic principle. The largest exchange company is Resort Condominiums International (RCI) with over 3600 resorts in over 90 countries world wide. The second largest is Interval International (II).
We explain using these two companies as they control over 90% of the exchange industry.
RCI color scheme as follows:
Red Season (Best): Also known as "high/peak season". This is the time of the year everyone wants to be at the resort (highest demand). If you own a "Red Floating/Flex" period, you can check-in any time of the year. If you are planning to buy a "peak season" week, plan on paying its worth. In prime areas, prime weeks can be expensive.
White Season (Better): Also known as "mid season". This would be the time of year which is between "Off Season" and "Peak Season". The time of year right before the "Peak Season" starts and right after the "Peak Season" is over. If you own a "White Floating/Flex" period, you are allowed to check-in during the "mid season" and the "off season" dates. If you are planning to buy a "mid season" week, plan on getting it for a reasonable price.
Blue Season (Good): Also known as "Off Season". This would be the time of year which the resort and location is of the least demand. If you own a "Blue Floating/Flex" period, you will only be allowed to check in during these "off season" dates. If you are planning to buy a "off season" week, plan on getting it inexpensively.
NOTE: Interval International rates Red as Red, White as Yellow and Blue as Green.