How to Transfer Timeshare Ownership

Timeshare Closing Companies

Once you have found a buyer for your timeshare property, you may be wondering what happens next. The timeshare title transfer and closing process can be confusing, which is why it is essential that you work with a well-known timeshare transfer company that can help you through every step of the process. Here are two qualities that all companies specializing in timeshare closings should possess:

Industry-Specific Experience - The laws governing the transfer of timeshares are different than those for traditional real estate and can vary by state and/or country. Be sure the timeshare closing company you choose can demonstrate a history of successful timeshare transfers.
One-Time, Flat Fee for Closing Services - Never, in any circumstance, pay a closing company a commission to transfer your timeshare. Look for a company that charges a single fee for a full range of services (either payed upfront by the buyer or taken from the escrow at the actual time of closing).

The knowledgeable staff at Timeshare Hot Deal will be happy to recommend a reputable transfer company to you, simply call (877) 884-9577 now.

Transfer My Timeshare - The Process

Even though you will probably enlist the assistance of a timeshare closing company, it can be helpful to understand the process of transferring timeshare ownership from you to the buyer. Here is a simple step-by-step breakdown describing how to transfer timeshare with most closing companies, as well as the types of documents you can expect to encounter when you transfer timeshare.

Welcome to Your Closing Company

Many timeshare transfer companies will send out a welcome letter (or email) to both the seller and the buyer that details the entire closing process. In this welcome packet, the seller will also likely receive four simple forms, which are designed to ensure an accurate closing.

The Purchase and Sales Agreement
This is the main timeshare sale contract. It is a legal contract that details the maintenance fees, week number (or number of points), unit size and other basic information about the timeshare for sale. After both the seller AND the buyer have signed the document, it should be returned to the closing company for review.
The Availability of Occupancy Certification
Though the name of this form may seem long, it doesn't take long to fill out. This document simply confirms that the week you are selling is, in fact, available to be used by the buyer once the timeshare transfer is complete.
The Mortgage Form
This simple form clarifies if you owe any money on your timeshare, and, if so, how much? If you have already paid off your timeshare then you can simply check the "no mortgage" box.
The Resort Release
This document is one of the most important that your timeshare closing company will send to you. This allows a resort to release confidential ownership and property information (needed for the transfer) as previously stated in the Purchase and Sales Agreement.

Submitting the Timeshare Deed

After filling in and sending off the aforementioned forms, the next step in how to transfer timeshare ownership is usually sending a copy of the original deed to the closing company. From here, the company handling your timeshare deed transfer will do the majority of the work for you.

Your timeshare transfer company will review all the documents described above, at which time the Resort Release and Estoppel (legal term for property ownership verification) are promptly sent to the resort.

Once the Estoppel is returned by the resort and has been shared with both buyer and seller, it is time for the creation of a new deed naming the buyer as the owner of the timeshare. Many timeshare closing companies have their own legal departments where a timeshare title transfer can take place, however, some will outsource and have these documents created off-site.

Pre-Closing Statements and Courthouse Records

Once the new deed has been created, the closing company pairs it with a "Pre-Closing Statement" for both the buyer and seller. The Pre-Closing Statement details exactly what the buyer owes (escrow) and what the seller will receive upon completion of the timeshare closing. The seller must sign the deed, get it notarized and send it to the closing company, while the buyer must send in the escrow stated on the Pre-Closing Statement.

Timeshare Transfer Companies should then send the new notarized deed to the courthouse of the county where the timeshare resort in question is located. The timeshare deed transfer is recorded by the courthouse and then the documents are sent back to the closing company.

Finalizing Timeshare Transfers

The timeshare closing company extracts the timeshare transfer fee from the escrow to be received by the seller (in most timeshare closings, the buyer pays the transfer fee, however, it can be outlined otherwise in the Purchase and Sales Agreement). The transfer company then sends the remaining funds to the seller, a copy of the new deed and the transfer fee to the resort, and the original copy of the new deed to the buyer. The seller has the money, the buyer has the timeshare and everyone is happy!

Now that you understand how to transfer timeshare, it is easy to see why working with a reputable and experienced company that specializes in transferring timeshare is of vital importance.

When you need to transfer timeshare, you want a company that offers easily accessible services, and that executes those services with speed and expertise. Timeshare Hot Deal will be happy to recommend quality closing companies to handle your timeshare deed transfer, and we will also be happy to answer any additional questions you might have about the timeshare closing process.

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