Idaho Deed to Time Share Condominium with Covenants of Title

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Multi-State
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US-02717BG
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Description

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.

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FAQ

Owning a Deeded Timeshare means you can sell it, rent it out, give it (and its fees) to someone, or leave it in your Will for your children (or another Beneficiary).

Can You Use a Timeshare Whenever You Want? No, you cannot use a timeshare whenever you want. Timeshare ownership typically gives you ownership of a specific week or weeks of the year at a particular resort. You can use your timeshare during those weeks, but you cannot use it outside of those weeks.

The biggest difference between Deeded and Right to use is the ownership of the property. Deeded means you physically own a fraction of the property. Right to use only gives you the right to stay at the property.

If you die owning a timeshare, it does become part of your estate and obligations are indeed passed onto the next-of-kin or the estate's beneficiaries. However, they do not have to accept it, in the same way that anyone has the right to refuse any part of an inheritance.

Right to use timeshares are exactly as they sound?you purchase the right to use the timeshare during the period on which you agreed. Unlike deeded timeshare contracts, you do not actually own any part of the property. Instead of a deed or title, you are bound to the timeshare by the terms of your contract.

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Idaho Deed to Time Share Condominium with Covenants of Title