Deed to Time Share Condominium with Covenants of Title
What this document covers
The Deed to Time Share Condominium with Covenants of Title is a legal document used to convey ownership of a time share in a condominium. This form differs from other real estate deeds by specifically addressing the unique nature of time shares, which grant the purchaser access to the property for specified times rather than full ownership. This document includes vital warranties from the grantor regarding the title, ensuring that the buyer has the right to enjoy the property without disputes from previous ownerships.
Main sections of this form
- Identification of the grantor and grantee, including full names and addresses.
- Details of the time share unit being conveyed, including the unit number and condominium project name.
- Consideration amount, stating what the grantee is paying for the time share.
- Specifications regarding ownership interests and the duration of the time share access period.
- Disclosure of any encumbrances and the relevant condominium declaration.
- Signature line for the grantor, providing evidence of acknowledgment by a notary public if required.
When this form is needed
This form should be used when transferring ownership of a time share condominium between parties. You might need it when selling or gifting your time share to another person, or if you are purchasing a time share from an existing owner. This deed is essential for clarifying and formalizing the ownership rights associated with the time share, providing necessary legal protections.
Who can use this document
This form is intended for:
- Current owners of a time share condominium wishing to transfer their rights to another party.
- Individuals seeking to purchase a time share unit in a condominium.
- Real estate professionals handling the sale or transfer of time share interests.
- Legal representatives involved in real estate or property transactions.
How to prepare this document
- Identify the parties involved by entering the full names and addresses of the grantor and grantee.
- Specify the time share unit details, including the unit number and name of the condominium project.
- Enter the amount of consideration being exchanged for the time share.
- Describe any conditions or encumbrances that apply to the time share ownership.
- Complete the signature line for the grantor and have the document notarized if required.
Does this document require notarization?
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to accurately identify the property and time share unit information.
- Omitting signatures or acknowledgments, leading to issues with legal validity.
- Neglecting to disclose all liens, encumbrances, or conditions affecting the time share.
- Not consulting state-specific requirements, which may affect the form's enforceability.
Why use this form online
- Conveniently complete and download the form from anywhere at any time.
- Easily edit specific fields to suit your individual needs without starting from scratch.
- Access to attorney-drafted templates, ensuring legal reliability and accuracy.
- Ability to quickly revise the form if details change or corrections are needed.
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FAQ
Although you can give your timeshare away as a gift, you will have to gift it with the understanding that the new owner will take over the fees, insurance, and taxesincluding any unpaid items.Additionally, the management company may require you to pay a transfer fee or other fees if you give away your timeshare.
With a deeded timeshare, you own an actual fraction of the property through a deed. Right To Use (RTU) gives you the right to vacation at the property. An RTU contract typically has an end date, where a deeded contract is for life.
1Step 1Be careful. Before you even begin, make sure the other party is legitimate and trustworthy, especially if you're the seller.2Step 2Create a buy sell agreement, known as an earnest money contract.3Step 3Create a deed.4Step 4Record your deed with the county.5Step 5Notify the resort.
The only way to forcibly change the ownership status is through a legal action and the resultant court order. However, if an owner chooses to be removed from the deed, it is simply a matter of preparing a new deed transferring that owner's interest in the property.
A deed back clause or program allows you to give your timeshare back to the resort. Until then, you remain responsible for paying the maintenance and special assessment fees along with your mortgage payments.
Sell it or give it back. A site like ARDA's Responsibleexit.com can connect you with timeshare developers who have free or low-cost exit options or professional licensed real estate brokers that specialize in timeshares. Negotiate your way out. Most timeshare companies don't want unhappy owners. Hire an attorney.
It will depend what state the property is in. For example, the minimum fee payable when changing the title to have someone removed from a property title in NSW is $133.48. This fee must be paid to the NSW Government Land & Property Information Department.
Contact Your Timeshare Company. First, contact your timeshare company or HOA and ask for help. Contact a Lawyer. Contact an attorney familiar with title laws in the state where you bought your timeshare. When All Else Fails: Surrender.
Step 1Be careful. Before you even begin, make sure the other party is legitimate and trustworthy, especially if you're the seller. Step 2Create a buy sell agreement, known as an earnest money contract. Step 3Create a deed. Step 4Record your deed with the county. Step 5Notify the resort.
