Time share is a type of property right under which the purchaser of a time share has access to the 'share' they own in a property for a specific 'time'. Time-shares have been sold for cruises, recreational vehicles, campgrounds, and many other types of properties, but their most popular use is for shares in condominiums at timeshare resorts.
A Warranty Deed s provides the most protection against defects of title- covenants that the grantor has title to, and the power to convey, the property; that the buyer will not be disturbed in possession of the land; and that transfer is made without unknown adverse claims of third parties. A Special Warranty Deed only that the grantor held good title during his or her ownership of the property, not that there were no title defects when others owned it. If all liens and encumbrances are disclosed, the seller is not liable if a third person interferes with the buyer's ownership.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
An "Alabama Deed to Time Share Condominium with Covenants of Title" refers to a legal document that conveys ownership of a specific time-share condominium unit located in Alabama. This type of deed ensures that the buyer receives a clear and marketable title to the property, safeguarding their ownership interests. The Alabama Deed to Time Share Condominium with Covenants of Title includes important covenants and provisions designed to protect the rights and interests of the time-share owner. These covenants may vary depending on the specific circumstances and requirements of the time-share development. They serve to outline the responsibilities of the time-share owner and provide guidelines for the use and management of the shared property and common facilities. Some types of Alabama Deed to Time Share Condominium with Covenants of Title may include: 1. Fixed-Week Time Share: This type of time-share provides the owner with the right to use a specific unit for a designated week each year. The deed will clearly specify the specific time period and week that the owner is entitled to use the unit. 2. Floating Time Share: In this case, the owner has more flexibility in choosing the time period within a specified season or timeframe to use the unit. The deed will outline the rules and procedures for reserving time periods based on availability. 3. Points-Based Time Share: This type of time-share grants the owner an allotment of points that can be exchanged for stays at various properties within the time-share network. The deed will outline the number of points allocated to the owner and the rules for their redemption. The Alabama Deed to Time Share Condominium with Covenants of Title is an important legal document that provides the buyer with the rights and responsibilities associated with ownership of a specific time-share unit. It ensures that the buyer's title to the property is protected and outlines the covenants and terms that must be adhered to by both the time-share owner and the time-share development.
