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.
The North Dakota Deed to Time Share Condominium with Covenants of Title is a legal document that establishes ownership rights over a specific time-share unit within a condominium project located in North Dakota. This deed includes various covenants of title, which are promises made by the seller regarding the property's title and its associated liabilities. These covenants provide protection to the buyer against any potential defects or encumbrances on the property. The North Dakota Deed to Time Share Condominium with Covenants of Title ensures that the buyer will have exclusive occupancy rights for a designated period each year, allowing them to enjoy the amenities and benefits of the shared property. It also outlines the terms and conditions governing the use and management of the time-share unit, including maintenance fees, assessment obligations, and any restrictions on the buyer's ability to rent or sell their share. Different types of North Dakota Deed to Time Share Condominium with Covenants of Title may include: 1. Fixed Week Deed: This type of deed grants the buyer exclusive occupancy rights for a specific week or period every year. It provides a predictable, fixed schedule for the buyer's annual usage. 2. Floating Week Deed: With a floating week deed, the buyer has more flexibility in choosing their desired time frame for occupancy each year. This type of deed allows the buyer to select a week within a specific season or timeframe, based on availability. 3. Points-Based Deed: This type of deed assigns the buyer a certain number of points, which can be redeemed for different time periods or resort locations within the time-share project. It offers greater flexibility and variety in terms of the buyer's usage options. 4. Right-to-Use Deed: With a right-to-use deed, the buyer acquires the right to use the time-share unit for a specific number of years, typically for a long-term lease but without actual ownership of the property. The ownership remains with the developer or the time-share project's entity. In conclusion, the North Dakota Deed to Time Share Condominium with Covenants of Title is a legal instrument that grants ownership rights and outlines the responsibilities and usage restrictions related to a time-share unit within a condominium project. Depending on the specific terms and conditions, different types of deeds can be issued to time-share buyers, including fixed week, floating week, points-based, and right-to-use deeds, providing various levels of usage flexibility and ownership.
