How to Transfer Timeshare Ownership
The timeshare closing process at Timeshare Closing Services is designed to be as simple and straightforward as possible. While closing a sale and transferring timeshare ownership can take time, we work quickly and diligently to deliver the results you need. Read more on how to close a timeshare sale below.
Detail Confirmation and Ownership VerificationEither the buyer or seller will contact Timeshare Closing Services to complete the timeshare sale. Once we confirm the details of the transaction, we will request the agreed deposit of funds to cover any fees and transfer costs. These funds will be held in our closing trust account. Next, the seller will send a copy of their recorded deed or membership certificate to TimeshareClosingServices.com (if you do not have your deed or certificate, we can assist you in obtaining a copy). We will then verify the seller’s account information with the resort to ensure accuracy.
Document Preparation and EscrowOnce we have all the materials we need and have confirmed your account status, we will prepare all necessary transfer documents. These documents will be sent to all parties involved in the transfer with specific instructions on how to complete them. Once all documents are completed and returned, the balance of funds would be requested from the buyer as detailed on the buyer’s closing statement. The buyer’s funds are securely placed in the escrow account as the documents are reviewed by our team.
Deed Recording and Ownership TransferAssuming the transfer documents are accurate and error-free, the deed is sent to the appropriate county and state recording department. If the property being sold is not deeded, then all transfer documents are sent to the resort for final processing. When the recorded deed is returned to our office, we send the original deed to the new owner and send a copy to the resort to advise them that there has been a change in ownership. Once that process takes place and the resort has updated their records, the closing and transfer of ownership is complete, and the escrow funds are released to the seller.
How Long Does Closing Take?
There is no exact answer to this question, as each timeshare closing is different. Normally, the closing process as a whole can take up to 90 days to complete, but it can take longer depending on a number of factors, including:
- How quickly each party executes and returns their documents
- Which recording agency the deed is sent to
- How long it takes for recorded documents to reach our office
At Timeshare Closing Services, Inc., we strive to make your transactions as quick and seamless as possible.