death and timeshares

Fees are 800 per year, ending in 2020. Plus she owes 2 back years.

My question is this: My parents are both deceased and were owners of a deeded timeshare. Since the deed read "assigns and heirs" it was my understanding I am responsible for Maintenance Fees. My parents died in 1993 and I have been paying MF. I just paid Transfer America a large sum to take this off my hands (donate it) and now it is held up because the title has my parents name on it. The closing dept. is telling me I have to go to Probate Court to have a document transferring it out of my parents name. I didn't think that was necessary since they put it in a living trust. However, I'm not sure if it was done correctly, i.e., they sent the trust document to the management company at that time (it was later taken over by Marriott)--however the deed itself was not retitled. Can anyone tell me what I need to do?

Nobody can make you accept the timeshare just because it was in your parents will. You are not responsible to pay the maintenance fees since it was never transfered into your name. Just do nothing and don't pay them anything if you don't want to own it. If they come after you just consult an an attorney and he will probably just send them a letter stating that you are no way responsible for any fees.

If there is a timeshare in an estate, and all the heirs to the estate (and anyone down the line) formally disclaim it, is there any legal reason why the executor cannot just abandon that property?

The executor is under no obligation to dispose of the timeshare. The best thing to do is not even include the timeshare in a will or estate. Out of sight out of mind. Burn the deed or throw it in the garbage where it belongs. Only the person the purchased the timeshare is responsible for any costs. Do the smart thing and pretend it doesn't exist.

Is there any protection for heirs and the estate if the TS is placed in a trust. My DH says someone told him that there is protection and that the TS company will either take it back or donate it. I'm skeptical. But that's what I do ;)

jayjay wrote:

timeos2 Moderator

TUG Lifetime Member

BBS Reg. Date: Apr 11, 05 Location: Rochester, NY Posts: 4,990

Resorts: Cypress Pointe, Wastegate, Orlando, FF, RCI Points, Diamond Club, Cove@Yarmouth, Rayburn County,Tx, Kingsgate Williamsbu Be careful - the estate is liable

Wrong. If the resort won't take a deed back (and they don't have to) then it's the ESTATE that has to find a new owner. It can be one of the famly or a third party but the estate cannot be closed until it has a new home with someone. Plus any fees due have to be paid by the estate until that new owner is found. It cannot simply be ignored. An individual can disclaim an inheritance but the estate has to deal with all assets and liabilities - even those of questionable value - before being finalized. __________________ John Chase

nicoleg284 wrote:

Is there any protection for heirs and the estate if the TS is placed in a trust. My DH says someone told him that there is protection and that the TS company will either take it back or donate it. I'm skeptical. But that's what I do ;)

>> If the resort won't take a deed back (and they don't have to) then it's the ESTATE that has to find a new owner. It can be one of the family or a third party but the estate cannot be closed until it has a new home with someone. Plus any fees due have to be paid by the estate until that new owner is found. It cannot simply be ignored. An individual can disclaim an inheritance but the estate has to deal with all assets and liabilities - even those of questionable value - before being finalized. __________________ John Chase <<

==========================================================================

John Chase is now deceased; he passed away several years ago, but his knowledgeable input quoted above is still absolutely correct. NO resort is EVER required to accept a "deedback", but may sometimes choose to do so. HOA position on "deedback", whatever it may be, will NOT be influenced in any way by a "trust" being the owner of record.

There is no particular "magic" or "protection" to having a timeshare in the name of a trust, other than potentially avoiding the public exposure of probate upon death. There is still an underlying "trustee" with a name and social security number. That being said however, no one is ever obligated to inherit a timeshare; the inheritance can quite simply be disclaimed. John Chase had it precisely right in his description above. Rest in peace, John.

nicoleg284: NO legitimate entity will EVER accept a timeshare as a "donation". It's a financial liability with ongoing legal obligations --- that's no "gift", not by any measure.