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Originally Posted by Beena Good question SandPine. I, too, am interested in what different ways a timeshare can be transferred. What happens? |
I think that some things involved with transferring a timeshare from seller to buyer may depend on the structure of the cotract, where it's deeded(if it's deeded) and perhaps a few other factors, but here's a general short-list I found online that probably applies to most timeshare transfers.
- A closing copany and/or real estate attorney is retained to properly facilitate the transfer of the timeshare and all applicable funds are placed in escrow, until the transfer is complete.
- The retained party researches the timeshare property to determine if the title is clean and/or the property is ready for transfer.
- An estoppel cetificate/document is acquired to confirm the status of the current timeshare owners account including confirming the size of unit, unit type, and the status/availability of the week.
- Preperation and submition of the timeshare transfer documents to the buying/selling parties for signature and notarization, if needed.
- The deed is recorded, if deeded, and the proper documents are submitted to the resort, and any funds held are released.