Terms Used In Texas Property Code Chapter 221 > Subchapter B - Creation of Timeshare Regime

• Accommodation: means any apartment, condominium or cooperative unit, hotel or motel room, cabin, lodge, or other private or commercial structure that:
  (A) is affixed to real property;
  (B) is designed for occupancy or use by one or more individuals; and
  (C) is part of a timeshare plan. See Texas Property Code 221.002
• Amenities: means all common areas and includes recreational and maintenance facilities of the timeshare plan. See Texas Property Code 221.002
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Developer: means :
  (A) any person, excluding a sales agent, who creates a timeshare plan or is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests; or
  (B) any person who succeeds in the developer's interest by sale, lease, assignment, mortgage, or other transfer if the person:
  (i) offers at least 12 timeshare interests in a particular timeshare plan; and
  (ii) is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests. See Texas Property Code 221.002
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Exchange company: means any person who owns or operates an exchange program. See Texas Property Code 221.002
• Justice: when applied to a magistrate, means justice of the peace. See Texas Government Code 312.011
• Multisite timeshare plan: means a plan in which a timeshare purchaser has:
  (A) a specific timeshare interest, which is the right to use and occupy accommodations at a specific timeshare property and the right to use and occupy accommodations at one or more other component sites created by or acquired solely through the reservation system of the timeshare plan; or
  (B) a nonspecific timeshare interest, which is the right to use and occupy accommodations at more than one component site created by or acquired solely through the reservation system of the timeshare plan but which does not include a right to use and occupy a particular accommodation. See Texas Property Code 221.002
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Personal property: All property that is not real property.
• Project instrument: means a timeshare instrument or one or more recordable documents, by whatever name denominated, applying to the whole of a timeshare project and containing restrictions or covenants regulating the use, occupancy, or disposition of units in a project, including a declaration for a condominium, association articles of incorporation, association bylaws, and rules for a condominium in which a timeshare plan is created. See Texas Property Code 221.002
• Purchaser: means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable interest in a timeshare interest other than as a security for an obligation. See Texas Property Code 221.002
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rule: includes regulation. See Texas Government Code 311.005
• Timeshare estate: means an arrangement under which the purchaser receives a right to occupy a timeshare property and an estate interest in the real property. See Texas Property Code 221.002
• Timeshare instrument: means a master deed, master lease, declaration, or any other instrument used in the creation of a timeshare plan. See Texas Property Code 221.002
• Timeshare interest: means a timeshare estate or timeshare use. See Texas Property Code 221.002
• Timeshare plan: means any arrangement, plan, scheme, or similar method, excluding an exchange program but including a membership agreement, sale, lease, deed, license, or right-to-use agreement, by which a purchaser, in exchange for consideration, receives an ownership right in or the right to use accommodations for a period of time less than a year during a given year, but not necessarily consecutive years. See Texas Property Code 221.002
• Timeshare property: means :
  (A) one or more accommodations and any related amenities subject to the same timeshare instrument; and
  (B) any other property or property rights appurtenant to the accommodations and amenities. See Texas Property Code 221.002