Every Year vs Eoy?

[nrm]

If I own an every year 2 bedroom lockoff timeshare, can I sell part of it as EOY? I know someone who would like to purchase an EOY and would like to sell mine that way. Has anyone been involved in such an arrangement privately? Sorry if this question has been dealt with somewhere else. Any help would be appreciated.

 

[ausman]

No, you can only sell what you own which is an every year property.

 

[BevL]

No, basically you would have to go into a "partnership", a private agreement which would likely be a nightmare waiting to happen, even between family members and friends.

 

[RLDJNYC]

EOY

In this economy the TS company would not allow a split?

 

[simpsontruckdriver]

Correct. You can split it off and rent the other side, but that's all. But the DEED can not be split.

TS

 

[nrm]

thanks

Thannks for the information. Not what I wanted to hear but clear now

 

[AwayWeGo]

You Own What The Original Deed Says & You Can't Change It. (So It Goes.)

In this economy the TS company would not allow a split?

It's not so much that. It's more that the deed -- either the individual unit deed, or more likely the included-by-reference condo documents that legally are part of every deed in the whole timeshare -- has provisions specifying that the property shall not be further subdivided or recombined.

That means side-by-side A&B "lock-off" units can't be sold separately if originally deeded together. Likewise every-year units can't be sold as separate EOY & EEY units. And vice versa -- i.e., biennials can't be glommed together to make annuals & adjoining "lock-off" units originally sold separately by the timeshare company cannot be recombined into 2BR units.

Etc.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[BevL]

It's really no different than my house. I could sell half my house to somebody, and the appropriate land registry and the city (to equate to the resort management) would recognize that there are now two owners.

But the city is not going to enforce residency and use and they're not going to send me a bill for the taxes one year and the other guy the bill the second year. It would be up to us as owners to sort that out between us.

 

[Saintsfanfl]

In this economy the TS company would not allow a split?

The timeshare is an ownership that also belongs to an HOA. There is no "timeshare company" that arbitrarily determines splitting or not splitting an ownership unit.

 

[Saintsfanfl]

It's really no different than my house. I could sell half my house to somebody, and the appropriate land registry and the city (to equate to the resort management) would recognize that there are now two owners.

But the city is not going to enforce residency and use and they're not going to send me a bill for the taxes one year and the other guy the bill the second year. It would be up to us as owners to sort that out between us.

It is different actually because the OP was not asking about co-ownership. You are referring to split ownership of a single deed. The OP is asking about splitting a single deed into two.