Technically I think 'what they call it' does matter.

AMFs generally are deemed to be monies used for the everyday running of the resort, i.e. Staffing, utility bills and general day to day needs of the propertty. If I understand correctly, the reserve fund should be considered sacred monies used exclusively for major needs within the resort - paving of roads, roofing, and things of that nature. They're for the long-term benefit of the association assuring that all owners, past, present and future, cover their fair share of the expenses. At least, that's how it was very specifically explained to me. And quite truthfully, while I don't presume to know the ins and outs of island laws pertaining to this type of property, that rang true because it's the way, pretty much, things were handled with the condo properties we owned over the years.

It really does make a difference but only in that if it were all lumped together, there would be no long-term guaranty those needs were being addressed. <img src="http://www.traveltalkonline.com/forums/images/graemlins/handshake.gif" alt="" /> <img src="http://www.traveltalkonline.com/forums/images/graemlins/handshake.gif" alt="" />