TRANSFER OF OWNERSHIP

THE PROCEDURE OF TIMESHARE OWNERSHIP TRANSFER

Once you are satisfied that your timeshare complies with the terms of your purchase agreement, you can start the necessary process of transferring the timeshare into your name. The procedure will vary depending on the resort and country. We recommend you to stay informed at all times during this process, which usually takes about 90 days.

 

COMPLETE LEGAL TRANSFER OF OWNERSHIP

Have you found a timeshare weeks, timeshare points or fractional ownership that you want to buy and you would need to transfer the ownership direct?

You would need to find out how much is the fee for the ownership transfer and which authority carries it out. Then simply fill in all the necessary documents for the timeshare ownership transfer and make this payment, then send the documents to the appropriate authority by registered mail for reliability.

 

If you do not know the cost of the transfer fee or where to send the original documents, then you should contact the Resort Management Company for this information. They will tell you everything.

Some resorts are now charging very high fees. Find out exectly how much before you agree on a final price with the buyer and commit to it.

 

The difficulty of the private timeshare resale is to set the procedure of keeping the money safe while the ownership is being transferred.

The seller must transfer the title documents to the buyer. This documentation will then be sent to the resort or its nominees to transfer ownership. However, this is a very simplified example. Many developers now have complex procedures for even owning a club. In the case of "Escritura" (land title), or American warranty deeds and other similar complex ownership structures, doing this privately without proper knowledge is extremely difficult.

 

Sellers are unlikely to take such action unless they receive payment for the purchase first. Likewise, buyers are reluctant to part with money based on a letter of intent or verbal agreement. Buyers may be left out of pocket and out of timeshare if they pay up front. The same applies to sellers, who could be left without property and money if they don't get paid up front.

 

ALL FUNDS ARE IN SAFE HANDS

Once you decide to purchase privately, use the property transfer service using the Escrow service provided by banks and notaries. If the seller and buyer do not live too far from each other, you can even use the service of a bank deposit box with two keys, which will be held by the seller and buyer one at a time during the registration period.

But it is ideal if your timeshare resort has an independent trustee - a Trust Company (Hutchinson Trust Company or FNTC - First National Trust Company). For a small additional fee the Trustee will provide escrow service. And this will be as quickly and reliably as possible also because it is the Trustee that makes sure that there is nothing outstanding on maintenance before the ownership transfer as well as performs the ownership transfer and issues new original ownership documents to the new owner.

 

HOW DOES A TRUST ACCOUNT WORK?

A trust account (escrow account) is a safe and independent means for keeping the buyers' money. The responsible trustee will release this money to the seller only after receiving satisfactory confirmation that the transfer of title is complete.

 

With a trust account, buyers pay the trustee directly, so neither the buyer will spend that money while the the ownership transfer is in process, nor will the resale agency be tempted to use the clients' money as cash flow. Once in trustee the money cannot be withdrawn until the sale is completed, at which time the seller receives his money and the resale agent, if an agent is involved, receives the commissions due. This is the best way to ensure both parties are fully protected.

 

Please review our Privacy Policy and Confidentiality to learn how we protect and manage the information you provide to us.

 

If you still want someone to take care of your transfer of ownership, we do not recommend wasting your time and money on lawyers who are unlikely fully understand all the intricacies of timeshare laws in various countries.

The independent timeshare specialists from Help Line International offer both individuals and businesses a complete legal title transfer service at very reasonable prices. This is where you will receive competent assistance.