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.
Great information about time shares. But, nowhere do I see it stated that people inheriting time shares can file a Disclaimer of Interest within a designated period (9 months from date of death?). Besides that I’d like to no what happens to the timeshare week if all family members (heirs) file a Disclaimer. What happens to the timeshare?