Deeded Timeshare Contracts
If you own a timeshare, or are considering purchasing one, there is a good chance that it is a deeded timeshare. Deeded ownerships are the most traditional and common form of timeshare contracts. Thousands of people own deeded timeshare and use them to travel every year. However, not understanding these timeshare contracts and the responsibilities attached can cause serious issues when you wish to get rid of it.
What is a Deeded Timeshare?
A deeded timeshare contract is a legally binding real estate document. Essentially, when you buy a deeded timeshare, you are purchasing a “share” of your timeshare resort. Even though you only own a portion of it, these timeshares are considered to be legal pieces of real estate. As an owner, you are responsible to pay for the upkeep and maintenance of the resort—through maintenance fees and special assessments. This is in addition to any mortgage you may have taken out on the property and its associated interest. Deeded timeshare contracts also mean that these properties are your responsibility until the title is moved out of your name. When you pass away, your timeshare will be passed down to your family until the title is sold or transferred to a new owner.
What You Can Do
If you need to get out of your deeded timeshare contract, you have a few options. As the owner, you can try to sell, give away, or donate your property. Although selling may seem like the best option, it is not a solution for everyone. It can also take a long time to sell your timeshare. By consulting with the timeshare specialists at TimeshareContracts.com, you may be able to get out of your timeshare agreement faster than you anticipated. To learn more about getting out of your deeded timeshare, call us at 1-855-781-0081.
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