Effective date of ownership

[BM243923]

I just purchased a timeshare on ebay and the recorded deed has been processed.

Quote from deed

"This indenture made this 19th day of January 2018"

The deed was recorded in the County Records today as January 29/19.

I questioned the seller about the date and they said it is the date the deed is recorded not the date used on the deed.

Should I be concerned about the 2018 date. To me it is an obvious error when the deed was prepared.

The maintenance fees are supposed to be paid up to and including 2019.

 

[TheTimeTraveler]

I just purchased a timeshare on ebay and the recorded deed has been processed.

Quote from deed

"This indenture made this 19th day of January 2018"

The deed was recorded in the County Records today as January 29/19.

I questioned the seller about the date and they said it is the date the deed is recorded not the date used on the deed.

Should I be concerned about the 2018 date. To me it is an obvious error when the deed was prepared.

The maintenance fees are supposed to be paid up to and including 2019.

Who is paying for the preparation of the Deed; Buyer or Seller? Usually it's the Buyer.

In any event, I would insist that it be accurately prepared. Who knows; you could end up being on the hook for potential issues over the previous year (not likely but think worst case scenario).




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[BM243923]

Who is paying for the preparation of the Deed; Buyer or Seller? Usually it's the Buyer.

In any event, I would insist that it be accurately prepared. Who knows; you could end up being on the hook for potential issues over the previous year (not likely but think worst case scenario).




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The seller is preparing the deed and paying all closing costs including maintenance fee for 2019 giving me free usage this year. It is a post card company that is selling the timeshare on the owner's behalf. They said the previous owner pre signs the deed when they give them the authority sell their timeshare on their behalf. That is why the date of 2018 was used.

 

[BM243923]

Bumping to top looking for a few more comments

 

[brianfox]

This seems weird to me, and doesn't sound like a typo.
It sounds like the owner contracted with a PCC to sell their timeshare, giving them authority waaaaaay back in January 2018. Authority to do what? Certainly not to find a buyer.
Did you enter into a purchase agreement way back in Jan of 2018? If so, this is a heck of a long time to process.
If not, then you have to wonder why a seller would sign over power to a PCC before a buyer has been found.

My concern would be whether 2018 and 2019 MF have been actually paid and by whom. The PCC sure isn't going to pay them, nor are they going to care if seller has paid them.
I personally am wary of the word "indenture" on a deed I am preparing to take over...
You can also do your own deed search online for free for most properties.
And you can call the resort to see if there are any uncollected fees

 

[BM243923]

I have contacted the resort and they would not answer any questions until I am the registered owner. The deed has been sent to the resort for the transfer to take place.

I am an owner already at the resort so I will see details when this new week is put into my account.

I have checked the county records and see the owner listed as the seller is the registered owner and it is mortgage free as that is recorded that the mortgage was paid off.

I have it in writing that all fees have been paid. The owner has been trying to sell this unit with the postcard company since Jan /2018 and I did not purchase the unit until Jan 21/19.