Timeshare Inheritance: Pay Property Taxes

Added February 23, 2007 by Ilyce R. Glink and Samuel J. Tamkin

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Summary: When you get a timeshare inheritance you're responsible for property taxes and maintenance as if it were real property. Even if you don't want the timeshare, you're responsible for property taxes and maintenance until you can sell the timeshare. To determine what to do with the timeshare you may want to contact a real estate attorney.

Q: My father recently passed away. He owned a Florida timeshare with points.

My siblings and I are not interested in owning this, but the resort where it's located is telling us that a timeshare is considered to be real property and we are responsible for all annual maintenance and property tax costs.

They also said they need a copy of his death certificate and will and that his estate will be probated because the timeshare was not listed on his will. Is this correct? How can we transfer ownership?

A: Many timeshare interests are in fact an ownership interest in real property. Some are even called fractional ownerships. In any case, the timeshare is clearly part of your father's estate.

While you and your siblings may not want the timeshare, your father's estate is responsible for it. If you or any of your siblings are named executors of his will, the executor will have to take action to either sell the timeshare or to have title in the timeshare transferred to you and your siblings.

The timeshare may need the information to assist in the transfer of ownership of the timeshare. But from a more important perspective, you need to know whether you even want the timeshare. If you all decide that you want to sell it, you will probably need an attorney in Florida to assist you in the estate issues and in the sale of the timeshare.

If you decide you want to keep the timeshare, you may still need to hire an attorney in Florida to assist you in the estate issues to allow you to transfer the title of the timeshare to all of you.

Feb. 23, 2007.

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