Terms Used In Texas Property Code Chapter 221 > Subchapter J - Service Agreements to Transfer or Terminate a Timeshare Interest

• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Association: means a council or association composed of all persons who have purchased a timeshare interest. See Texas Property Code 221.002
• 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
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Exchange company: means any person who owns or operates an exchange program. See Texas Property Code 221.002
• 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.
• Managing entity: means the person responsible for operating and maintaining a timeshare property. See Texas Property Code 221.002
• 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
• offer: means any advertisement, inducement, or solicitation and includes any attempt to encourage a person to purchase a timeshare interest other than as a security for an obligation. See Texas Property Code 221.002
• Personal property: All property that is not real property.
• 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}
• 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.
• Timeshare interest: means a timeshare estate or timeshare use. 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
• United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005