Legal Question in Real Estate Law in Florida

Transfer of Fla. Timeshares

I would like to transfer ownership of five different weeks interval ownership(Timeshare) weeks( in Florida) to each of my five grown children. Can I do this myself and how?

Yes you can. Everyone has the right to dispose of their own property. You must execute deeds to each of the timeshare weeks to each of the children you want to receive the week. You must include the proper legal description in the deed together with the appropriate tax ID number for the property as well as the recipients Social Security number. You record the deed in the County were the condominium is located; then provide a copy of the recorded deed to the property manager. You should pro rate the real estate taxes and any maintenance expenses for the year in which you convey title unless your children agree to pay 100 percent of these items. Before you give such a gift, I would have a talk with each of your children to explain the yearly maintenance fees, taxes and various expenses associated with ownership. Your gift may be perceived as a burden rather than a benefit. If you gift the timeshare week to your children and they do not pay the yearly assessment, then a foreclosure action ultimately results and could affect their credit. Timeshare weeks are not easily sold even in the best locations and resorts.

I am licensed only in Fla. and the Federal Courts and answer questions only from/re. Florida connected inquiries.

Nothing can substitute for a personal conference with an attorney and you are strongly encouraged to call/consult with one.

By answering your question I am not agreeing to represent you and do not intend to create an atty./client relationship. I accept no responsibility for errors or problems arising from the answers I give. PROCEED AT YOUR OWN RISK!