What Is A Timeshare Beneficiary Deed?
What Is A timeshare Beneficary
My wife and I own 2 deeded timeshare properties in Minnesota and one timeshare deeded property in Missouri. Our concern, should anything happen to both of us, was how our timeshare property would be handled.
Since there are so many timeshare-deeded properties in the state of Missouri, the state solved the problem by making available a Timeshare Beneficiary Deed which avoids probate for timeshare owners.
Basically what it does is “avoid probate” by assigning the property to someone who would like to have it should death occur to the current deeded owners. It is a simple one page agreement that should be kept with the timeshare papers indicating who it goes to. The designated person takes that “beneficiary deed” along with the death certificate to the court recorders office in the county where the timeshare property is located.