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9 Cards in this Set
- Front
- Back
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Vacation Time Sharing Plan |
Either a vaction time sharing ownership lan or a vacation time sharing lease plan |
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Time Sharing Unit |
The actural accommodations and related facilities which are the subject of the vaction time sharing ownership plan or lease plan |
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Accomodations |
Any hotel or motel room, condominium or cooperative unity, cabin, lodge, apartment or any other private or commercial structure designed for occupancy by one or more individuals |
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Facilities |
Any structure, service, or property whether improved or unimpoved mad available to the purchaser for recreational, social, family, or personal use |
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Vacation Time Sharing Ownership Plan |
Any arrangement, plan or similar devise, whether by tenacy in common, sale, term for years, dee, or other means, whereby the purchaser receives an ownership interest in real property and the right to use accomodaitons or facilities, or both, for a period or periods of time during any given year, but not necessarily for consecutive years, which extends for a period of more that one year |
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Cacation Time Sharing Lease Plan |
Any arrangement, plan or similar devise, whether by membership agreement, lease, rental agreement, license, use agreement, security, or other means |
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Unit Week |
A number of consecutive days, normally seven in duration, which may reasonably be assigned to purchasers of vacation time sharing plans by the seller |
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Receivable |
Any note, contract, promise, or any other agreement to pay a fixed or determinable amaount of money which is not in arrears for more than ninety days |
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Face Value |
The principal amount of money represented by any receivable as defined above, togethr with the amount of all interest to be collected on it |
