Transferring Timeshare Ownership Escrow-Settlement

Purchasing or selling a timeshare is very much the same as purchasing or selling a home. If you have a recorded deed, and you sell your property, the ownership must be transferred and recorded again.

If you have a seller and a buyer who have come to an agreement on price, terms and fees, this must be put in writing to protect both parties. In some states the buyer and seller will use an “escrow company” to draw up the appropriate documents for signatures and make sure the money is disbursed properly. In some states this is called Settlement, which is usually done through the use of an attorney. The terminology and method may be different, but the outcome is the same, a transfer of ownership, which is properly executed and recorded.

There are two types of Timeshare ownership. The most common is deed, or fee simple. With this type of ownership, some choose to purchase a title insurance policy to guarantee free and clear title.

The other type of ownership is a Right to Use (RTU). You are actually purchasing the right to use specific property for a predetermined number of years, at which time the timeshare will revert back to the original owner, developer, or renew in your name.

The whole process of transferring ownership is really quite simple if you work with a reputable, experience brokerage like Timeshare Resales USA!