Timeshares are real property. Change of owners of real property is by deed filed in the state where the real property is located. Each state has its own rules. This page provides an overview of the rules in the states of California, Hawaii and Nevada.
A deed is a paper document signed by the current owner. On the deed the owner transfers ownership in real property to another person. The owner’s signature on the deed must be acknowledged by a notary.
The owner either “grants” or “quit claims” ownership. “Grant” has implied warranties of valid ownership and disclosure of loans and liens on the real property. “Quit claim” is the equivalent of “as is.” A quit claim does not promise valid ownership and does not provide disclosure of loans or liens outstanding.
California keeps track of real property owners by county. A deed is filed in the county where the timeshare is located with the office of the county recorder. All counties in California require an additional document known as a “Preliminary Change of Ownership Report.” Many counties, but not all, also require a tax affidavit.
Nevada tracks real property by county. Real property documents are maintained by the recorder’s office in each county. Nevada requires a “declaration of value” to accompany the deed. The declaration of value determines the amount of transfer tax payable to the county.
When you need to change in owners
When only one spouse owns the timeshare. The resort may require the other spouse to be on title to make reservations or to access the timeshare. Also the non-owning spouse may want to be added for the survivor to continue to use the timeshare.
When one spouse is awarded the timeshare in a divorce. Until the non-owning spouse is removed by deed as owner, both spouses have access and both spouses are responsible for the maintenance fees.
When you create a trust. Trusts do not avoid probate if the timeshare is not owned by the trust. A deed from the Settlor to the Trustee of the trust properly funds the trust. For this deed the Settlor and Trustee are the same person.
Whencurrent owner wants to add or remove a co-owner of a timeshare.
Timeshares are a category of real property. Change of owners of real property is by deed filed in the state where the real property is located. Each state has its own set of rules. Each state has designated an office where the deed is filed.
This page is authored by Mark W. Bidwell, an attorney in California. Office is at 4952 Warner Avenue, Suite 235, Huntington Beach, California 92649. Phone number is 714-846-2888. Mr. Bidwell markets through a website, DeedandRecord.com.