Bahamas - Vesting for Deed

[IAMBIGK]

Are you able to hold title to a property in the Bahamas in a US Revocable Living Trust?

I understand the "general" advantages and disadvantages of holding title to timeshare properties in a trust.

I am specifically looking for information about a timeshare property in the Bahamas.

Also, if you are NOT able to put property in the Bahamas in a US Trust...what happens to the property when you pass away?

Thanks!

 

[jorcus]

This is just speculation on my part but I don't see why you could not put the timeshare in a living trust. It is at least technically an asset that would be directed to an heir up death or other directives and avoiding probate in the process. This does not have any influence on the original contract of the time share. What happens when the named owner passes away? That is up to the contract. If someone was interested in keeping the time share it would seem that working with time share company on naming a co owner would be the better way but you might have to do both if there are some family objections. Once you co own you are most likely entering into a long term or forever contract to pay the Maint. fees.

 

[IAMBIGK]

Thanks for the reply. Most deeded timeshare properties can be funded to a trust. I was just unclear if property in the Bahamas can be funded to a US trust.

In general, if the timeshare is a deeded property, the asset/timeshare will pass by operation of law/per the vesting or via probate. I was specifically looking for information about property and probate laws in the Bahamas. I figured someone has had direct experience with this but maybe not!