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How We Are Preparing To Pass Our Timeshare & Other Real Estate To Our Heirs!


Feb 2, 2012

Minnesota-How We Are Passing On Our Timeshare and Other Real Estate

To Our Heirs

How We Are Planning Ahead In Passing On Our Timeshare And Other Real Estate To Our Heirs.

My wife and I are waiting for our updated wills to be returned from our attorneys. We don’t have a large estate. Our main assets include our home, three timeshare vacation properties, two in Minnesota and one in Missouri, a large sailboat, two maxi-motorscooters, a couple of vehicles and other personal property. So, it is not a large estate. But we don’t want our adult children who live quite a distance from us with their families, to have to spend money on hiring attorneys and going through the sometimes 6 months or more of probate.

As you can see, our timeshare and other real estate are our major assets. Here are the steps we have taken in passing on our timeshare and other assets to our children without going through Read the rest of this entry »


We are including links to other time share web sites that you may have an interest in researching. Thank You for visiting us.


transfer on death deeds
The TimeShare Authority
The Timeshare Users Group
TimeSharing Today


Recommended Reading

Minnesota Transfer on Death Timeshare & Real Estate Deeds


Nov 27, 2011

Minnesota’s Transfer on Death Deed applies to your home and to timeshare property if you hold timeshare property within the State of Minnesota.

The idea behind this conveyance is to pass any real estate you own to your beneficiaries without the beneficiaries having to go through the probate process.

This must be filed with the county in which the property is located.  An example would be our situation. We own two deeded timeshare properties in Minnesota plus our home. Each property is in a different county. We would have to file the Payable on Death conveyances on each of these properties in the 3 different counties.

Click Here for Minnesota’s Payable on Death Info.


We are including links to other time share web sites that you may have an interest in researching. Thank You for visiting us.


Timeshare Beneficiary Deeds
TimeSharing Today
The TimeShare Authority
The Timeshare Users Group


Recommended Reading

Solving Timeshare Problems Before Probate & Payable Upon Death Forms.


Nov 19, 2011

Along with the enjoyment of timeshare vacations one must consider how to solve in-advance the solutions of passing the timeshare properties to people who would love to own them. If not immediate relatives to someone else without going through probate. We have solved that problem, in our family, with the Beneficiary Deeds explained earlier. If you don’t know what a beneficiary deed is, Click Here.

If someone has valuables in a safety deposit box in a bank, upon death, none of the contents can be taken physically  out of the bank until it is cleared by the probate court. But there is another way to solve that. This will also help if timeshare property is involved. The Timeshare Beneficiary Deed is one solution and a “Payable On Death” is another solution.

We discussed the timeshare probate problems and the possible solutions. Now, ask your bank for “Payable Upon Death” forms. To avoid having your checking and savings and other accounts from being frozen until after probate, the “Payable Upon Death” forms will allow your family, or possibly your administrator,  to immediately allow them to take over all your banking accounts without going through probate.

Doing these two things will make life easier and more enjoyable and simpler for those whom the timeshare properties will pass. You should be able to print these generic and probate deeds from our website.





We are including links to other time share web sites that you may have an interest in researching. Thank You for visiting us.


wills
TimeSharing Today
The TimeShare Authority
The Timeshare Users Group


Recommended Reading

A Example of a Generic Deed to help keep timeshare property out of probate.

 

 

Generic Beneficiary Deeds That May Work

We have found a Generic Beneficiary Deed that May Work for most timeshare owners in most any state. We suggest that when you print this Generic Beneficiary Deed that you check with someone with legal knowledge and maybe even with your timeshare resort to make sure that your wishes will be honored in the event death.  The idea behind this type of deed is to keep it out of probate. If you can’t sell it talk to someone you know who might like to have a timeshare vacation property. I would give mine away rather than have it go through probate.


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Beneficiary Deed

I (We) ______________________________ (Owner) hereby convey to ____________________
__________ (Grantee Beneficiary) effective on my (our) death the following described real property:

Property Address: ___________________________________________
Legal Description: ________________________
___________________________________________
____________________________________________

If the Grantee Beneficiary precedes the Owner in death, then the conveyance to that Grantee Beneficiary shall either (choose one):

[ ] Become null and void.

[ ] Become part of the estate of the Grantee Beneficiary

Dated: _______________

Name(s) of Grantor(s): ______________________________________

Signature(s) of Grantor(s): ___________________________________

STATE OF _________________________

COUNTY OF _________________________

On this day, personally appeared before me, _________________________, to me known to be the person(s) described in and who executed the within instrument, and acknowledged that he/she signed the same as his/her voluntary act and deed, for the uses and purposes therein mentioned.

Witness my hand and official seal hereto affixed on this day of _______________, 20__.

Notary’s Public Signature: ______________________

My commission expires _______________.

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We are including links to other time share web sites that you may have an interest in researching. Thank You for visiting us.


Timeshare Beneficiary Deeds
TimeSharing Today
The TimeShare Authority
The Timeshare Users Group


Recommended Reading

Colorado - Timeshare Beneficiary Deeds - 2011

Colorado Timeshare Beneficiary Deeds

For vacation property owners who have purchased timeshare in Colorado, you may want to consider checking out the Beneficiary Deeds available in Colorado. Remember, particularly if you live outside of Colorado and also within the State of Colorado, that you can avoid having your timeshare property go through probate in the event of death. That’s what Beneficiary Deeds do. It will save your estate the expense and pass your timeshare onto whomever without a hitch. This is important folks!

Click Here for Colorado information and forms.


We are including links to other time share web sites that you may have an interest in researching. Thank You for visiting us.


Timeshare Beneficiary Deeds
The Timeshare Users Group
The TimeShare Authority
TimeSharing Today


Recommended Reading


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