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Re: what is a lockout (by Dotti P.):

Some timeshare condominium units are referred to as "lock-offs." A lock-off, sometimes called a lockout, is a unit that can be divided into two separate sections. The owner of a lock-off has several options when it comes to renting out the unit.

He or she may choose to:

Rent the entire unit to one party Stay in one half of the unit and rent out the other half Rent out both halves to different parties

Quick Tip: While full timeshare units may have a full kitchen and laundry facilities, the lock-off portion will likely look more like a hotel room - with one room, a bathroom, and possibly a small kitchenette.