Life circumstances change all the time and some changes make timeshare ownership more of a burden than a source of joy and an opportunity for relaxation. Many timeshare owners who no longer want their rentals are looking into ways to transfer the title to get rid of the unnecessary expenses – if you are currently trying to find out how you can transfer your timeshare property, here are a few things that you should know about:
- Check your timeshare contract – many timeshare agreements include clauses that regulate the way the ownership rights can be transferred, so before trying to find a buyer for your rental, read and understand the applicable clauses. Many timeshare companies retain the right to resell the rental or have other conditions stipulated in the contract;
- Contact your timeshare lawyers management company – talk to someone at the company to find out more about the title transfer process. The timeshare management company might even be interested in buying back the rental;
- The transfer process – ownership transfer takes place based on a contract, so whoever your buyer is, whatever the price you are offered, always make sure that you read and understand the contract. If you find legal language too complicated, turn to a lawyer who specializes in timeshare cases to make sure the transaction will go as you expect it to.