Couples who find themselves frequently vacationing often enter into timeshare agreements as a way to ensure that they’ll have a place to stay when away from home. When couples divorce, though, timeshares are one of many assets that get split up with other property that you share.
Transferring a timeshare deed is a fairly involved process. One of the first steps involves finding out how much in outstanding fees you may owe. When calling to determine this, you’ll also want to inquire about whether your timeshare contract calls for fees to be assessed when a transfer of ownership occurs.
The next step a timeshare owner should take is providing the buyer with contact information for your resort’s management. You should encourage your buyer to make contact to find out more about the membership application process and resort rules.
If, after speaking about this with management, your buyer is still committed to buying your timeshare, you’ll be ready to have the individual sign a contract for the purchase. That agreement should detail the dates that the timeshare is available for use, clearly spell out maintenance fees, and outline any additional fees.
The next step in the process involves the seller making contact with the county clerk’s office. Both the buyer and seller will need to appear in front of a notary public or an attorney to sign a new deed. The original must be filed with the clerk’s office, and taxes and recording fees must be paid to finalize the transfer.
After that, the original deed is sent to the purchaser confirming that it has been recorded by the county. It’s the new owner’s responsibility to forward the new deed to the timeshare management company’s attention. The deed must be accompanied by supporting documentation detailing who’s responsible for covering maintenance fees and who’ll have access to it, among other details.
Whether you and your ex have jointly decided to sell the timeshare or if it’s been ordered by a judge, an Osceola, Florida, property division attorney guide you through the process of deeding it over correctly.
Source: USA Today, “How to Transfer a Timeshare,” Amelia Allonsy, accessed Nov. 10, 2017