Legal Question in Real Estate Law in Massachusetts
Timeshare two studios bought together
Bought timeshare with another individual and since that individual has married and would like the studios seperated on the deed so he can leave his share to his wife.
1 Answer from Attorneys
Re: Timeshare two studios bought together
I assume the timeshare is in MA. if there is no Mortgage on the Timeshare units, the easiest thing to do is to contact the timeshare management and ask them to prepare two deeds for you. One from you to the other party and one from him to you. there are probabaly some other agreements that need to be transferred as well, such as a maintenance agreement.
If there is a lender on the timeshare with a recorded mortgage you will need the lender's consent to do this.
If the timeshare company will not prepare the deed for you, then you can have an attorney do it together with a Memorandum of Transfer indicating you are separating the units, each exchanging a 1/2 interest in each unit for a complete ownership of one unit.