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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 37363
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Can a timeshare company pass on my ownership responsibility

Customer Question

Can a timeshare company pass on my ownership responsibility in our timeshare to our family in the event of our death?
George E. Wilson
Submitted: 1 year ago.
Category: Legal
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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A timeshare is considered a property interest and as such, it would be considered an asset of your estate once you passed. So it would pass to your heirs under whatever estate plan you had.

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However, if your heirs didn't want it, they can refuse to accept it and reject it in writing sent to the executor. At that point, the timeshare interest would pass to the next beneficiary in line. But if everyone rejected it, then the estate would end up turning over the interest to the probate court which would then go to the state unclaimed property division. But since the fees would likely go into default, eventually the timeshare company will foreclose to retake ownership and sell it to someone else.

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So bot***** *****ne is that your heirs can refuse to accept it if they don't want the burden of paying the fees.

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thanks

Barrister