How to Get My Heirs Out of a Timeshare
The rules for timeshare ownership are the same as for ownership of a residential home. If you own a timeshare and do not convey your ownership to someone else through your will or before you die, it will pass to your heirs. If you do not want your heirs to own it there are a few easy things you can do to make sure that ownership is passed down to the people you want to receive it when you're gone. You can hire a lawyer to do these simple tasks, but it is possible to do them yourself.
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Instructions
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Look at your timeshare deed. Make sure the information on it is correct. Check the spelling of the timeshare, the unit and week that you own and your name.
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Copy the information about the unit, including the name of the timeshare, the unit and the week onto the blank timeshare deed. If you own a percentage, copy that too.
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Write your name on the blank timeshare deed under the grantor or seller section. Under the grantee or buyer section, write your name with the phrase "as to a life estate interest" and then write the name of the person you want to have the timeshare after you're gone. After the person's name write the phrase "as to the remainder." This means that you and the other person own the timeshare, but when you die, your interest is transferred to that person, leaving your heirs out of the picture.
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Sign the deed in the presence of a notary public.
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Mail or hand deliver the signed and notarized deed to the County Clerk's office in the county and state where the timeshare is located. Have the clerk record it in the public records.
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Tips & Warnings
Most states require at least two witnesses to sign the deed. Contact the clerk's office where it will be recorded to find out the state's requirements for witnesses and ask if there are any other requirements specific to the county and state.
If you hold title with another person, that other person will need to sign the deed too, or it won't be a valid deed.
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- Photo Credit series object on white: isolated - Signature image by Aleksandr Ugorenkov from Fotolia.com
