Note: This is an excellent article on what happens when the parents are gone and the worries of the kids when the parents have left them with timeshare deeds!

Timeshare Resort. What happens when the parents are gone?

How not to inherit mom’s timeshare | Liz Weston

How Beneficiary Deeds Can Help

Is Timeshare Travel Worth It?

Is Timeshare Travel Worth It?

We think so!

 (Our testimonial)

Timeshare Vacation at Lake Tahoe, NV.

 

 

 

 

We own 3 deeded timeshare properties and love how we have been vacationing over the last 18 years. We started with one timeshare

Our first timeshare unit given to us “free” because the owner didn’t use it and wanted to get rid of it.

that was given to us by someone who no longer wished to travel or exchange it. We exchanged that deeded week right after title transfer to “Treetops in Lake of the Ozarks in Missouri”. We liked the unit we exchanged into so much

Treetop Village, Timeshare - Lake of the Ozarks, Missouri (II)
Treetop Village Timeshare – Lake of the Ozarks (II)

we asked the resort office if any of their owners had a summer week we could purchase at a reasonable price. They did!  That was our 2nd deeded timeshare week. We purchased it for pennies on the dollar through the resort association.

We have a Beneficiary Deed in our “Lake of the Ozarks Deeded Timeshare” that will automatically transfer to one of our 3 adult children without going through any probate.

Picture of a simple beneficiary deed for Missouri State

About 5 years ago we noticed a prime summer week at Breezy Point International here in Minnesota on the resale market in Tug2.net for only $400. Here is what we purchased for $400. We contacted the owner immediately because we were familiar with the resort only 3 hrs from our home. The previous owner purchased it 10 yrs earlier for $10,000 and used the facilities for its membership benefits locally and exchanged it all over the USA during the years they owned it.

So, at age 76 we are still in good health and enjoying our 3 deeded weeks of vacation every year.

Sincerely,

Cary & Elaine Johnson

Minnesota

 

What is meant by beneficiary deed? Pay Attention Timeshare Owners!

What is meant by beneficiary deed?

Picture of a simple beneficiary deed for Missouri State

(Particularly Timeshare Owners)

If you purchased deeded timeshare property out of the state you are living in you should consider this option for transferring your timeshare vacation property to anyone you wish without your desired beneficiary going thru the terrible process of probate. Keep it out of the probate court. Lawyers love probate. It’s their bread and butter to making money.

What is meant by beneficiary deed?

Answer: A beneficiary deed is a type of real property deed used to Continue reading “What is meant by beneficiary deed? Pay Attention Timeshare Owners!”

Beneficiary Deed vs the Cost of Probate in Timeshare Ownership

Good morning everyone.

We sit here watching out our kitchen window watching the fall leaves coming off the trees. It’s a sad reminder here in Minnesota that winter may be only a month or two before the snow shows up. And to think that we only rode our motorscooter less than 10 miles this past summer.

Well anyway, we want to point out that if you own timeshare real estate outside of your state you should consider a “Beneficiary Deed” if your kids or relatives are interested in your timeshare. Otherwise, having a timeshare property going through a “probate” process is a lawyers dream.

Use your computer and look up “Beneficary Deeds” in the state where you own the timeshare and print one out or order one from the state where your timeshare is located. Otherwise, click here for a simple “beneficiary deed”  you should be able to print. 

Just some advice to keep that part of your wishes out of the hands of an estate attorney. It’s not worth it. 

Why You Need A Timeshare Beneficiary Title & Deed – If You Purchased Timeshare In Or Out Of State!

Author of Timesharefun.comBeneficiary Deeds : Why Timeshares Should Have a Beneficiary Deed
http://deedmonkey.com/pt/blog/default.aspx?id=14&t=Why-Timeshares-Should-Have-a-Beneficiary
Probate Of Timeshares Can Be Expensive. If an individual dies owning a timeshare, their heirs may needlessly pay thousands in probate expense. A probate for a …

What Is A Timeshare Beneficiary Deed? – Avoid Probate In …
https://www.timesharefun.com/2014/09/14/timeshare-resorts-rci-ii-videos-photos-146/
timeshare resorts, rci, ii, videos, photos … Over 4,000 Timeshare Resorts Worldwide. We Do The Research For You. Look For Your Timeshare Resorts Here.

Why You Need A Timeshare Beneficiary Title & Deed – If You Purchased Timeshare In Or Out Of State!

Here are nine states were: Arizona, Arkansas, Colorado, Kansas, Missouri, Nevada, New Mexico, Ohio, and
Wisconsin. Since 2007, Minnesota, Montana, and Oklahoma have also passed such laws, bringing the
current total to twelve. More states will be added later.

When the homeowner dies, title to the real estate passes to the beneficiary
or beneficiaries, named in
the Transfer-on-Death Deed, similar to how title passes in a Joint Tenancy Deed. No Probate is needed.
This Deed avoids Capital Gains Taxes to be paid by the Beneficiaries at time of sale.

This Revocable Transfer-on-Death Beneficiary Deed, can be revoked. This avoids the problems that
exist when the homeowner now adds her son, her grandson, or her daughter to her deed. The home
ends up in her son’s divorce, her grandson’s bankruptcy, with liens from her daughter’s creditors.

When she asks them to give her home back to her, they frequently refuse. At her death, unnecessary
Capital Gains Taxes are paid upon the sale of the home. Although the Beneficiaries are named in a
Revocable Transfer-on-Death Beneficiary Deed, they have no ownership rights to the home until after
the death of the homeowner.

The real estate can be refused by the Beneficiary through a Disclaimer of Interest form. The rights of
creditors, as well as the debtors, are protected by this Deed.

Why You Need A Timeshare Beneficiary Title & Deed – If You Purchased Timeshare In Or Out Of State!

Why You Need A Timeshare Beneficiary Title & Deed – If You Purchased Timeshare In Or Out Of State!

Here are nine states were: Arizona, Arkansas, Colorado, Kansas, Missouri, Nevada, New Mexico, Ohio, and
Wisconsin. Since 2007, Minnesota, Montana, and Oklahoma have also passed such laws, bringing the
current total to twelve. More states will be added later.

When the homeowner dies, title to the real estate passes to the beneficiary
or beneficiaries, named in
the Transfer-on-Death Deed, similar to how title passes in a Joint Tenancy Deed. No Probate is needed.
This Deed avoids Capital Gains Taxes to be paid by the Beneficiaries at time of sale.

This Revocable Transfer-on-Death Beneficiary Deed, can be revoked. This avoids the problems that
exist when the homeowner now adds her son, her grandson, or her daughter to her deed. The home
ends up in her son’s divorce, her grandson’s bankruptcy, with liens from her daughter’s creditors.

When she asks them to give her home back to her, they frequently refuse. At her death, unnecessary
Capital Gains Taxes are paid upon the sale of the home. Although the Beneficiaries are named in a
Revocable Transfer-on-Death Beneficiary Deed, they have no ownership rights to the home until after
the death of the homeowner.

The real estate can be refused by the Beneficiary through a Disclaimer of Interest form. The rights of
creditors, as well as the debtors, are protected by this Deed.

Why You Need A Timeshare Beneficiary Title & Deed – If You Purchased Timeshare In Or Out Of State!

Why You Need A Timeshare Beneficiary Title & Deed – If You Purchased Timeshare In Or Out Of State!

Here are nine states were: Arizona, Arkansas, Colorado, Kansas, Missouri, Nevada, New Mexico, Ohio, and
Wisconsin. Since 2007, Minnesota, Montana, and Oklahoma have also passed such laws, bringing the
current total to twelve. More states will be added later.

When the homeowner dies, title to the real estate passes to the beneficiary
or beneficiaries, named in
the Transfer-on-Death Deed, similar to how title passes in a Joint Tenancy Deed. No Probate is needed.
This Deed avoids Capital Gains Taxes to be paid by the Beneficiaries at time of sale.

This Revocable Transfer-on-Death Beneficiary Deed, can be revoked. This avoids the problems that
exist when the homeowner now adds her son, her grandson, or her daughter to her deed. The home
ends up in her son’s divorce, her grandson’s bankruptcy, with liens from her daughter’s creditors.

When she asks them to give her home back to her, they frequently refuse. At her death, unnecessary
Capital Gains Taxes are paid upon the sale of the home. Although the Beneficiaries are named in a
Revocable Transfer-on-Death Beneficiary Deed, they have no ownership rights to the home until after
the death of the homeowner.

The real estate can be refused by the Beneficiary through a Disclaimer of Interest form. The rights of
creditors, as well as the debtors, are protected by this Deed.