There are a number of reasons you may want to transfer your timeshare to a family member. Maybe they can just get more use out of it, or maybe you are ready to pass it down in your family. A timeshare is truly the gift of a lifetime of family memories and vacation opportunities.
If you’ve decided to give your timeshare to a loved one, you may be wondering how do I transfer my timeshare to a family member? The process is simple and stress-free to ensure your loved one can start utilizing the timeshare and benefiting from ownership right away!
Transferring your timeshare ownership is different from just gifting your timeshare to a family member. In that case, you simply contact the resort to let them know that someone else will be using your week and provide the names. The process of transferring an actual timeshare depends on the type of ownership you have: deeded or Right To Use.
This process isn’t so different from selling your timeshare in legal terms, though you wouldn’t have to go through the process of advertising it and you likely wouldn’t be charging your family member any money to take over the ownership, or you’ve already agreed on an amount.
Before making the transfer, be sure that you are up to date with your maintenance fees so you do not burden your loved one. Other things you want to ensure your family member is aware of includes:
Transferring your timeshare deed is a formal process that will require a signed contract, deed recording, and resort notification. It would be much like a property closing except that there would be no payment involved. Because this is a legal and slightly complex process, it may be worth it to hire a trusted closing company to handle the process and all of the documents for you for a fee.
With a Right To Use timeshare, there is no deed involved, and the process is generally quicker and more straightforward. Contact the resort and they will be able to direct you to the correct paperwork to fill out. After this is complete, the timeshare is transferred and your family member will own it for the remainder of the contract.
Now that you know how to transfer my timeshare to a family member, be sure to follow our blog for more help timeshares tips, tricks, and resources to help you make the most of your ownership.