Legal Question in Real Estate Law in Georgia

Title Insurance and timeshare

My wife and I purchased a Florida timeshare in 1995. With the purchase we also obtained title insurance from Commonwealth Land Title Ins Co which insures against loss or damage sustained or incurred by reason of ''unmarketability of the title'', and other reasons.

We have attempted to market this timeshare through Century 21 starting in 1998 for a one-time fee. We have never had any offers on the property from this effort.

We have attempted to give the property away to our alma mater, but they don't want it because it isn't valuable enough for them to invest the time and effort to sell for their purposes.

Questions: Will this data be appropriate for submitting notice to the insurance company for a claim based on the title insurance coverage for unmarketability of the title? Have any others been successful in attempting this with a title insurance company with regard to timeshare ownership?

Thanks for your assistance.


Asked on 7/07/08, 5:47 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Title Insurance and timeshare

You have an un-sellable property, not an unmarketable title, and you have title insurance, not re-sale insurance. Title insurers do not insure market conditions, bad choices, or similar circumstances that have absolutely nothing to do with the title. Beyond that, read your insurance documents.

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Answered on 7/07/08, 6:22 pm


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