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.
A District of Columbia Deed to Time Share Condominium with Covenants of Title is a legally binding document that outlines the ownership rights and obligations associated with a time-share condominium property located in the District of Columbia. This deed serves as tangible proof of ownership and provides essential information about the property. The District of Columbia features several types of Deed to Time Share Condominium with Covenants of Title, including: 1. Fixed Week Deed: This type of deed grants the owner the right to use the time-share property during a specific week each year, typically on a consistent basis. 2. Floating Week Deed: With a floating week deed, the owner has the flexibility to choose a specific week within a designated season or set of weeks to use the time-share property each year. 3. Points-Based Deed: This unique type of deed allocates the owner certain points that can be used to reserve accommodations at the time-share property within a given period. The owner can select different lengths of stays, different unit sizes, or even exchange points for stays at other affiliated properties. Regardless of the type, a District of Columbia Deed to Time Share Condominium with Covenants of Title typically contains the following key information: a. Property Description: This section thoroughly describes the time-share condominium, including the exact location, unit number, and any specific amenities the property offers. b. Ownership Details: The deed lists the names of the owners, their contact information, and the percentage of ownership each party holds. c. Usage Rights: It outlines the specific time or season during which the owner can use the time-share property, along with any limitations or restrictions imposed. d. Maintenance Fees and Assessments: The deed highlights the annual maintenance fees or assessments that the owner is responsible for paying, which contribute toward the property's upkeep, repairs, and other shared expenses. e. Covenants and Restrictions: This section includes any rules or regulations that the owner must adhere to, such as guidelines for property use, noise restrictions, and policies regarding pets or guests. f. Transfer and Termination: The deed outlines the procedures and requirements for transferring ownership of the time-share property to another party, as well as any provisions for terminating the deed. g. Governing Law: It specifies that the deed is governed by the laws of the District of Columbia, ensuring compliance with local regulations and statutes. A District of Columbia Deed to Time Share Condominium with Covenants of Title is designed to protect the rights and interests of both the owners and the time-share condominium community. It provides a clear understanding of the ownership structure, obligations, and benefits associated with acquiring a time-share in the vibrant and culturally rich District of Columbia.
