Buying a timeshare can provide you with the option of enjoying a vacation at an attractive resort on an annual basis. If you buy a timeshare and eventually decide that you no longer want to use it, you could transfer it to someone else to use. When you want to transfer the title to the timeshare to another owner, the process is similar to what you would do to transfer any other type of real estate.
Make all of your maintenance payments and make sure that they are up-to-date for the new owner. You do not want to surprise the new owner of the property with a big bill for maintenance fees once he takes possession of the property.
Create an earnest money contract with the buyer of the timeshare. If you are simply transferring the ownership of the property to a family member or friend for no money, you could potentially skip this step. Collecting earnest money ensures that you get something out of the deal for the inconvenience if the buyer backs out.
Hire a real estate attorney to create a new deed for the property. While you could do this yourself, hiring an attorney will ensure that the deed is written correctly according to the rules of the county in which the property is located. The new deed will include your name and the name of the new owner, as well as a legal description of the property. Once you and the buyer sign the deed, it then must be notarized.
Record the deed with your county clerk's office. This includes sending the original deed to the county clerk and paying a nominal recording fee.
Notify the timeshare resort that you have transferred the timeshare to the new owner. Send a letter with all of the information about the new owner and the transaction. For example, you will need to include the new owner's name, the week of the timeshare and his Social Security number, address and contact information. You should also include any account numbers associated with your timeshare. By providing this information, the timeshare can begin billing the new owner for maintenance fees.