How to Transfer a Timeshare

For example, the legal description of the timeshare as it's stated in the original contract is essential in order to make the transfer.


When owning a timeshare becomes more of a burden than a pleasure, selling the property is an attractive option. However, transferring timeshare ownership isn't a straightforward process. The timeshare contract may include stipulations around reselling, and, like other real estate deals, the Timeshare transfer of ownership must meet legal requirements.

Timeshare Contracts
Before seeking out a buyer for a timeshare or attempting to transfer the title, check the contract and contact the management company. Some timeshare contracts or management agreements include clauses regarding the resale or transfer of the property. The timeshare organization might retain the first right to resell, or the company might require that the new owner have specific qualifications. A transfer of ownership that's undertaken privately without the timeshare organization's knowledge could be invalid at best or, at worst, illegal.

Finding a Buyer
If the timeshare organization isn't interested in reselling, some alternative options for selling the timeshare are local realtors or ads in newspapers and magazines or on internet sites . Timeshare appraisal services can give an estimate of the value of the timeshare, and local realtors often have a good idea of the resale value of timeshares in their area. Check with the realtor about properties they've recently sold in the vicinity to assess their professional experience. Beware a cold approach from a timeshare reselling company, however. Some unscrupulous businesses contact timeshare owners and offer to resell their properties for an upfront fee of hundreds of dollars. The reselling company states that the market is hot for that particular timeshare, but when a sale doesn't materialize, timeshare owners can't claim back their fee.

Before a transfer can take place, the seller should have in hand all the documentation relating to the timeshare and information about the buyer. For example, the legal description of the timeshare as it's stated in the original contract is essential in order to make the transfer. Other important documents include the contact details of the resort, the deed to the timeshare, the financial agreement if it isn't completed, information that identifies the seller's membership or interest, real estate taxes if they're billed separately and documentation that states the amount of the management fee and the date it's due. In addition, if the timeshare is an exchange program in which the owner can select from a range of resorts, the seller requires the documentation that shows the affiliation with the exchange company.

Transferring Timeshare Ownership
Transferring timeshare ownership takes place through a real estate contract. The realtor who arranged the deal or an attorney can draft the transfer contract, which states information like the legal description of the timeshare, who pays future maintenance fees, who has the right to use timeshare points banked in the system, who pays resort transfer fees and what happens if the buyer defaults on future payments. Alternatively, if the seller is simply transferring ownership back to the management company, he can ask an attorney to draft a warranty deed. As well as the timeshare's legal description, the deed states the full name of the timeshare receiver, and it must be recorded in the county location of the timeshare. The seller should make a copy of the warranty deed for his own records before giving it to the new owner.