When you want to make an exchange you call Starwood and request an "assignment" for the purpose of an II exchange. This unit is good until June 30 of the second year after your usage year. For example, any assignment in 2009 expires June 30 2011. If you change your mind,this assignment (deposit) can be canceled any time during your year of usage and you can then retain your home resort usage.
Gary, when your making a request using the "assignment" method as you describe above, do you know if II will allow your on-going request for search to be beyond the 12 months? I believe that with a request first method, your search cannot be more than 12 months. This is what I heard from II rep.