Terms Used In Florida Statutes > Chapter 721 - Vacation and Timeshare Plans
Accommodation: means any apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room, campground, cruise ship cabin, houseboat or other vessel, recreational or other motor vehicle, or any private or commercial structure which is real or personal property and designed for overnight occupancy by one or more individuals. See Florida Statutes 721.05
Account: means an arrangement under a terms-of-service agreement in which the custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user. See Florida Statutes 740.002
Accounting period: means a calendar year unless another 12-month period is selected by a fiduciary. See Florida Statutes 738.102
Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Agent: means a person that is granted authority to act for a principal under a durable or nondurable power of attorney, whether denominated an agent, an attorney in fact, or otherwise. See Florida Statutes 740.002
Agreement for deed: means any written contract utilized in the sale of timeshare estates which provides that legal title will not be conveyed to the purchaser until the contract price has been paid in full and the terms of payment of which extend for a period in excess of 180 days after either the date of execution of the contract or completion of construction, whichever occurs later. See Florida Statutes 721.05
Agreement for transfer: means any written contract utilized in the sale of personal property timeshare interests which provides that legal title will not be transferred to the purchaser until the contract price has been paid in full and the terms of payment of which extend for a period in excess of 180 days after either the date of execution of the contract or completion of construction, whichever occurs later. See Florida Statutes 721.05
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Amounts secured by the lien: means all amounts secured by an assessment lien or mortgage lien, including, but not limited to, all past due amounts, accrued interest, late fees, taxes, advances for the payment of taxes, insurance and maintenance of the timeshare interest, and any fees or costs incurred by the lienholder or trustee, including any reasonable attorney's fees, trustee's fees, and costs incurred in connection with the default. See Florida Statutes 721.82
Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
Applicable law: means the law of the jurisdiction where the accommodations and facilities referred to are located. See Florida Statutes 721.52
Appraisal: A determination of property value.
Assessment: means the share of funds required for the payment of common expenses which is assessed from time to time against each purchaser by the managing entity. See Florida Statutes 721.05
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Association: means , in addition to any entity responsible for the operation of common elements owned in undivided shares by unit owners, any entity which operates or maintains other real property in which unit owners have use rights, where membership in the entity is composed exclusively of unit owners or their elected or appointed representatives and is a required condition of unit ownership. See Florida Statutes 718.103
Association property: means that property, real and personal, which is owned or leased by, or is dedicated by a recorded plat to, the association for the use and benefit of its members. See Florida Statutes 718.103
Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Catalog of electronic communications: means information that identifies each person with which a user has had an electronic communication, the time and date of the communication, and the electronic address of the person. See Florida Statutes 740.002
Chambers: A judge's office.
Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
Closing: means :
(a) For any plan selling timeshare estates, conveyance of the legal or beneficial title to a timeshare estate as evidenced by the delivery of a deed for conveyance of legal title, or other instrument for conveyance of beneficial title, to the purchaser or to the clerk of the court for recording or conveyance of the equitable title to a timeshare estate as evidenced by the irretrievable delivery of an agreement for deed to the clerk of the court for recording. See Florida Statutes 721.05
Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
Common expenses: means all expenses properly incurred by the association in the performance of its duties, including expenses specified in…. See Florida Statutes 718.103
Common expenses: means :
(a) Those expenses, fees, or taxes properly incurred for the maintenance, operation, and repair of the accommodations or facilities, or both, constituting the timeshare plan. See Florida Statutes 721.05
Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
Common surplus: means the amount of all receipts or revenues, including assessments, rents, or profits, collected by a condominium association which exceeds common expenses. See Florida Statutes 718.103
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Component site: means a specific geographic site where a portion of the accommodations and facilities of the multisite timeshare plan are located. See Florida Statutes 721.52
concurrent developer: which means any person acting concurrently with the persons in this subsection with the purpose of offering timeshare interests in the ordinary course of business. See Florida Statutes 721.05
Condominium: means that form of ownership of real property created pursuant to this chapter, which is comprised entirely of units that may be owned by one or more persons, and in which there is, appurtenant to each unit, an undivided share in common elements. See Florida Statutes 718.103
Condominium property: means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium. See Florida Statutes 718.103
Conspicuous type: means bold type in capital letters no smaller than the largest type, exclusive of headings, on the page on which it appears and, in all cases, at least 10-point type. See Florida Statutes 718.103
Conspicuous type: means :
(a) Type in upper and lower case letters two point sizes larger than the largest nonconspicuous type, exclusive of headings, on the page on which it appears but in at least 10-point type; or
(b) Where the use of 10-point type would be impractical or impossible with respect to a particular piece of written advertising material, a different style of type or print may be used, so long as the print remains conspicuous under the circumstances. See Florida Statutes 721.05
Consumer resale timeshare interest: means :
(a) A timeshare interest owned by a purchaser;
(b) One or more reserved occupancy rights relating to a timeshare interest owned by a purchaser; or
(c) One or more reserved occupancy rights relating to, or arranged through, an exchange program in which a purchaser is a member. See Florida Statutes 721.05
Consumer timeshare reseller: means a purchaser who acquires a timeshare interest for his or her own use and occupancy and later offers the timeshare interest for resale or rental. See Florida Statutes 721.05
Content of an electronic communication: means information concerning the substance or meaning of the communication which:
(a) Has been sent or received by a user;
(b) Is in electronic storage by a custodian providing an electronic communication service to the public or is carried or maintained by a custodian providing a remote computing service to the public; and
Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) Source: OCC
Custodian: means a person that carries, maintains, processes, receives, or stores a digital asset of a user. See Florida Statutes 740.002
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Decedent: A deceased person.
declaration of condominium: means the instrument or instruments by which a condominium is created, as they are from time to time amended. See Florida Statutes 718.103
Deed: The legal instrument used to transfer title in real property from one person to another.
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
Dependent: A person dependent for support upon another.
Designated recipient: means a person chosen by a user through an online tool to administer digital assets of the user. See Florida Statutes 740.002
Developer: means a person who creates a condominium or offers condominium parcels for sale or lease in the ordinary course of business, but does not include:
(a) An owner or lessee of a condominium or cooperative unit who has acquired the unit for his or her own occupancy;
(b) A cooperative association that creates a condominium by conversion of an existing residential cooperative after control of the association has been transferred to the unit owners if, following the conversion, the unit owners are the same persons who were unit owners of the cooperative and no units are offered for sale or lease to the public as part of the plan of conversion;
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
Division: means the Division of Florida Condominiums, Timeshares, and Mobile Homes of the Department of Business and Professional Regulation. See Florida Statutes 718.103
Division: means the Division of Florida Condominiums, Timeshares, and Mobile Homes of the Department of Business and Professional Regulation. See Florida Statutes 721.05
Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Florida Statutes 740.002
Electronic communication service: means a custodian that provides to a user the ability to send or receive an electronic communication. See Florida Statutes 740.002
Enrolled: means paid membership in an exchange program or membership in an exchange program evidenced by written acceptance or confirmation of membership. See Florida Statutes 721.05
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
Escrow: Money given to a third party to be held for payment until certain conditions are met.
Escrow account: means an account established solely for the purposes set forth in this chapter with a financial institution located within this state. See Florida Statutes 721.05
Escrow agent: includes only:
(a) A savings and loan association, bank, trust company, or other financial institution, any of which must be located in this state and any of which must have a net worth in excess of $5 million;
(b) An attorney who is a member of The Florida Bar or his or her law firm;
(c) A real estate broker who is licensed pursuant to chapter 475 or his or her brokerage firm; or
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 owning or operating, or owning and operating, an exchange program. See Florida Statutes 721.05
Exchange program: means any method, arrangement, or procedure for the voluntary exchange of the right to use and occupy accommodations and facilities among purchasers. See Florida Statutes 721.05
Facility: means any permanent amenity, including any structure, furnishing, fixture, equipment, service, improvement, or real or personal property, improved or unimproved, other than an accommodation of the timeshare plan, which is made available to the purchasers of a timeshare plan. See Florida Statutes 721.05
Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
Fiduciary: means a personal representative, trustee, agent acting under a power of attorney, guardian, or other person authorized to act as a fiduciary with respect to the property of another person. See Florida Statutes 739.102
Fiduciary: means an original, additional, or successor personal representative, guardian, agent, or trustee. See Florida Statutes 740.002
Filed public offering statement: means a public offering statement that has been filed with the division pursuant to…. See Florida Statutes 721.05
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Forbearance: A means of handling a delinquent loan. A
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
Fraud: Intentional deception resulting in injury to another.
Future interest: means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation. See Florida Statutes 739.102
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Grantor: The person who establishes a trust and places property into it.
Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
Guardian: means a person who is appointed by the court as guardian of the property of a minor or an incapacitated individual. See Florida Statutes 740.002
Incidental benefit: means an accommodation, product, service, discount, or other benefit which is offered to a prospective purchaser of a timeshare plan or to a purchaser of a timeshare plan prior to the expiration of his or her initial 10-day voidability period pursuant to…. See Florida Statutes 721.05
Income: means money or property that a fiduciary receives as current return from a principal asset. See Florida Statutes 738.102
Income interest: means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require the net income to be distributed or authorize the net income to be distributed in the trustee's discretion. See Florida Statutes 738.102
Information: means data, text, images, videos, sounds, codes, computer programs, software, databases, or the like. See Florida Statutes 740.002
Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
Insolvent: means , solely for purposes of this chapter, that the sum of a person's debts is greater than all of the person's assets at fair valuation and that the person is generally not paying his or her debts as they become due. See Florida Statutes 739.102
Inter vivos: Transfer of property from one living person to another living person.
Interestholder: means a developer, an owner of the underlying fee or owner of the underlying personal property, a mortgagee, judgment creditor, or other lienor, or any other person having an interest in or lien or encumbrance against the accommodations or facilities of the timeshare plan. See Florida Statutes 721.05
Intestate: Dying without leaving a will.
Inventory: means the accommodations and facilities located at a particular component site or sites owned, leased, licensed, or otherwise acquired for use by a developer and offered as part of the multisite timeshare plan. See Florida Statutes 721.52
Jointly held property: means property held in the names of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property. See Florida Statutes 739.102
Junior interestholder: means any person who has a lien or interest of record against a timeshare interest in the county or counties in which the timeshare interest is located, which is inferior to the mortgage lien or assessment lien being foreclosed under this part. See Florida Statutes 721.82
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Land: means the surface of a legally described parcel of real property and includes, unless otherwise specified in the declaration and whether separate from or including such surface, airspace lying above and subterranean space lying below such surface. See Florida Statutes 718.103
Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
Lead dealer: means any person who sells or otherwise provides a resale service provider or any other person with personal contact information for five or more owners of timeshare interests. See Florida Statutes 721.05
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Lien: A claim against real or personal property in satisfaction of a debt.
Lienholder: means a holder of an assessment lien or a holder of a mortgage lien, as applicable. See Florida Statutes 721.82
Limited common elements: means those common elements which are reserved for the use of a certain unit or units to the exclusion of all other units, as specified in the declaration. See Florida Statutes 718.103
Managing entity: means the person who operates or maintains the timeshare plan pursuant to…. See Florida Statutes 721.05
Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
Memorandum of agreement: means a written document, in a form sufficient to permit the document to be recorded or otherwise filed in the appropriate public records and to provide constructive notice of its contents under applicable law, which includes the names of the seller and the purchasers, a legal description of the timeshare property or other sufficient description for a personal property timeshare plan, and all timeshare interests to be included in such document, and a description of the type of timeshare interest sold by the seller. See Florida Statutes 721.05
Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Mortgagor: means a person granting a mortgage lien or a person who has assumed the obligation secured by a mortgage lien. See Florida Statutes 721.82
Multicondominium: means real property containing two or more condominiums, all of which are operated by the same association. See Florida Statutes 718.103
Multisite timeshare plan: means any method, arrangement, or procedure with respect to which a purchaser obtains, by any means, a recurring right to use and occupy accommodations or facilities of more than one component site, only through use of a reservation system, whether or not the purchaser is able to elect to cease participating in the plan. See Florida Statutes 721.52
Nonspecific multisite timeshare plan: means a multisite timeshare plan with respect to which a purchaser receives a right to use all of the accommodations and facilities, if any, of the multisite timeshare plan through the reservation system, but no specific right to use any particular accommodations and facilities for the remaining term of the multisite timeshare plan in the event that the reservation system is terminated for any reason prior to the expiration of the term of the multisite timeshare plan. See Florida Statutes 721.52
Notice address: means :
(a) As to an assessment lien, the address of the owner of a timeshare interest as reflected by the books and records of the timeshare plan under ss. See Florida Statutes 721.82
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.
Obligor: means the mortgagor, the person subject to an assessment lien, or the record owner of the timeshare interest. See Florida Statutes 721.82
offer: means the solicitation, advertisement, or inducement, or any other method or attempt, to encourage any person to acquire the opportunity to participate in a timeshare plan. See Florida Statutes 721.05
One-to-one use right to use night requirement ratio: means that the sum of the nights that owners are entitled to use in a given 12-month period shall not exceed the number of nights available for use by those owners during the same 12-month period. See Florida Statutes 721.05
Online tool: means an electronic service provided by a custodian which allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and user, to provide directions for disclosure or nondisclosure of digital assets to a third person. See Florida Statutes 740.002
owner of the underlying personal property: means any person having an interest in the real property or personal property comprising or underlying the accommodations or facilities of a timeshare plan at or subsequent to the time of creation of the timeshare plan. See Florida Statutes 721.05
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.
Permitted delivery service: means any nationally recognized common carrier delivery service, international airmail service that allows for return receipt service, or a service recognized by an international jurisdiction as the equivalent of certified, registered mail for that jurisdiction. See Florida Statutes 721.82
person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, or any other legal or commercial entity or a government or governmental subdivision, agency, or instrumentality. See Florida Statutes 738.102
Person: includes individuals, ascertained and unascertained, living or not living, whether entitled to an interest by right of intestacy or otherwise; a government, governmental subdivision, agency, or instrumentality; and a public corporation. See Florida Statutes 739.102
Person: means an individual, estate, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See Florida Statutes 740.002
Personal contact information: means any information that can be used to contact the owner of a specific timeshare interest, including, but not limited to, the owner's name, address, telephone number, and e-mail address. See Florida Statutes 721.05
Personal property: All property that is not real property.
Personal property timeshare interest: means a right to occupy an accommodation located on or in or comprised of personal property that is not permanently affixed to real property, whether or not coupled with a beneficial or ownership interest in the accommodations or personal property. See Florida Statutes 721.05
personal property timeshare plan: which means a timeshare plan in which the accommodations are comprised of personal property that is not permanently affixed to real property; and
(b) A "real property timeshare plan" which means a timeshare plan in which the accommodations of the timeshare plan are comprised of or permanently affixed to real property. See Florida Statutes 721.05
Personal representative: means the fiduciary appointed by the court to administer the estate of a deceased individual pursuant to letters of administration or an order appointing a curator or administrator ad litem for the estate. See Florida Statutes 740.002
Plaintiff: The person who files the complaint in a civil lawsuit.
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
Principal: means property held in trust for distribution to a remainder beneficiary when the trust terminates. See Florida Statutes 738.102
Public offering statement: means the written materials describing a single-site timeshare plan or a multisite timeshare plan, including a text and any exhibits attached thereto as required by ss. See Florida Statutes 721.05
Purchaser: means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable interest in a timeshare plan other than as security for an obligation. See Florida Statutes 721.05
Purchaser public offering statement: means that portion of the filed public offering statement which must be delivered to purchasers pursuant to…. See Florida Statutes 721.05
Quorum: The number of legislators that must be present to do business.
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Florida Statutes 740.002
Registered office: means the street address of the business office of the registered agent appointed under…. See Florida Statutes 721.82
Regulated short-term product: means a contractual right, offered by the seller, to use accommodations of a timeshare plan or other accommodations, provided that:
(a) The agreement to purchase the short-term right to use is executed in this state on the same day that the prospective purchaser receives an offer to acquire an interest in a timeshare plan and does not execute a purchase contract, after attending a sales presentation; and
(b) The acquisition of the right to use includes an agreement that all or a portion of the consideration paid by the prospective purchaser for the right to use will be applied to or credited against the price of a future purchase of a timeshare interest, or that the cost of a future purchase of a timeshare interest will be fixed or locked in at a specified price. See Florida Statutes 721.05
Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
Remote computing service: means a custodian that provides to a user computer processing services or the storage of digital assets by means of an electronic communications system as defined in 18 U. See Florida Statutes 740.002
Resale advertiser: means any person who offers, personally or through an agent, resale advertising services to consumer timeshare resellers for compensation or valuable consideration, regardless of whether the offer is made in person, by mail, by telephone, through the Internet, or by any other medium of communication. See Florida Statutes 721.05
Resale advertising service: means any good or service relating to, or a promise of assistance in connection with, advertising or promoting the resale or rental of a consumer resale timeshare interest located or offered within this state, including any offer to advertise or promote the sale or purchase of any such interest. See Florida Statutes 721.05
Resale broker: means any person, or any agent or employee of such person, who is licensed pursuant to chapter 475 and who offers or provides resale brokerage services to consumer timeshare resellers for compensation or valuable consideration, regardless of whether the offer is made in person, by mail, by telephone, through the Internet, or by any other medium of communication. See Florida Statutes 721.05
Resale brokerage services: means , with respect to a consumer resale timeshare interest in a timeshare property located or offered within this state, any activity that directly or indirectly consists of any of the activities described in…. See Florida Statutes 721.05
Resale service provider: means any resale advertiser, or other person or entity, including any agent or employee of such person or entity, who offers or uses telemarketing, direct mail, e-mail, or any other means of communication in connection with the offering of resale brokerage or resale advertising services to consumer timeshare resellers. See Florida Statutes 721.05
Resale transfer agreement: means a contract or other agreement between a person offering timeshare interest transfer services and a consumer timeshare reseller, in which the person offering timeshare interest transfer services agrees to provide such services as described in…. See Florida Statutes 721.05
Reservation system: means the method, arrangement, or procedure by which a purchaser, in order to reserve the use and occupancy of any accommodation or facility of the multisite timeshare plan for one or more use periods, is required to compete with other purchasers in the same multisite timeshare plan regardless of whether such reservation system is operated and maintained by the multisite timeshare plan managing entity, an exchange company, or any other person. See Florida Statutes 721.52
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
Seller: means any developer or any other person, or any agent or employee thereof, who offers timeshare interests in the ordinary course of business. See Florida Statutes 721.05
Service of process: The service of writs or summonses to the appropriate party.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Specific multisite timeshare plan: means a multisite timeshare plan with respect to which a purchaser receives a specific right to use accommodations and facilities, if any, at one component site of a multisite timeshare plan, together with use rights in the other accommodations and facilities of the multisite timeshare plan created by or acquired through the reservation system. See Florida Statutes 721.52
Statute: A law passed by a legislature.
Subpoena: A command to a witness to appear and give testimony.
successor developer: which means any person who succeeds to the interest of the persons in this subsection by sale, lease, assignment, mortgage, or other transfer, but the term includes only those persons who offer timeshare interests in the ordinary course of business; and
Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
Terms-of-service agreement: means an agreement that controls the relationship between a user and a custodian. See Florida Statutes 740.002
Time of distribution: means the time when a disclaimed interest would have taken effect in possession or enjoyment. See Florida Statutes 739.102
Timeshare estate: means a right to occupy a timeshare unit, coupled with a freehold estate or an estate for years with a future interest in a timeshare property or a specified portion thereof, or coupled with an ownership interest in a condominium unit pursuant to…. See Florida Statutes 721.05
Timeshare instrument: means one or more documents, by whatever name denominated, creating or governing the operation of a timeshare plan. See Florida Statutes 721.05
Timeshare interest: means a timeshare estate, a personal property timeshare interest, or a timeshare license. See Florida Statutes 721.05
Timeshare interest transfer services: means any good or service relating to an offer or agreement to transfer ownership of a consumer resale timeshare interest, or assistance with or a promise of assistance in connection with the transfer of ownership of a consumer resale timeshare interest, as described in…. See Florida Statutes 721.05
Timeshare license: means a right to occupy a timeshare unit, which right is not a personal property timeshare interest or a timeshare estate. See Florida Statutes 721.05
Timeshare period: means the period or periods of time when a purchaser of a timeshare interest is afforded the opportunity to use the accommodations of a timeshare plan. See Florida Statutes 721.05
timeshare plan: includes :
(a) A "personal property timeshare plan" which means a timeshare plan in which the accommodations are comprised of personal property that is not permanently affixed to real property; and
(b) A "real property timeshare plan" which means a timeshare plan in which the accommodations of the timeshare plan are comprised of or permanently affixed to real property. See Florida Statutes 721.05
Timeshare property: means one or more timeshare units subject to the same timeshare instrument, together with any other property or rights to property appurtenant to those timeshare units. See Florida Statutes 721.05
Timeshare unit: means an accommodation of a timeshare plan which is divided into timeshare periods. See Florida Statutes 721.05
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
Trustee: A person or institution holding and administering property in trust.
Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See Florida Statutes 738.102
Trustee: means a fiduciary that holds legal title to property under an agreement, declaration, or trust instrument that creates a beneficial interest in the settlor or other persons. See Florida Statutes 740.002
Trustee: means an attorney who is a member in good standing of The Florida Bar and who has been practicing law for at least 5 years or that attorney's law firm, or a title insurer authorized to transact business in this state under…. See Florida Statutes 721.82
User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.