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.
South Carolina Deed to Time Share Condominium with Covenants of Title is a legal document that transfers ownership of a time-share condominium in South Carolina while ensuring certain covenants and guarantees related to the property. This type of deed is specifically tailored for time-share properties, which are condominium units owned collectively by multiple individuals who each have the right to use the property for a specific period of time. The deed outlines the specific details of the time-share unit being transferred, including its location, size, and usage rights. The "Covenants of Title" referenced in the deed are important guarantees provided by the seller to the buyer. They affirm that the seller has legal ownership of the time-share condominium and has the authority to transfer the property to the buyer. The covenants of title also promise that the property is free from any undisclosed encumbrances or claims and that the buyer will receive clear and marketable title to the time-share condominium. Additionally, the South Carolina Deed to Time Share Condominium with Covenants of Title may include additional clauses and provisions to protect the interests of both the buyer and the seller. These may involve provisions related to maintenance fees, usage restrictions, and any obligations or responsibilities of the time-share owners. Types of South Carolina Deed to Time Share Condominium with Covenants of Title include: 1. General South Carolina Deed to Time Share Condominium with Covenants of Title: This is the most common type of deed used to transfer ownership of a time-share condominium and ensure covenants of title. 2. South Carolina Deed to Time Share Condominium with Limited Warranty: This type of deed guarantees that the seller will defend the title against any claims arising during their ownership of the time-share, but does not extend to previous owners. 3. South Carolina Deed to Time Share Condominium with Quitclaim: In this type of deed, the seller transfers their rights, if any, to the time-share condominium without making any guarantees regarding the title or ownership. This type of deed is often used when the seller is unsure of the property's legal status. Overall, the South Carolina Deed to Time Share Condominium with Covenants of Title provides a comprehensive legal framework for the transfer and ownership of time-share condominiums in South Carolina. It ensures that buyers have clear and marketable title to their time-share units and provides essential protections for all parties involved in the transaction.
