My understanding is that most or all timeshares/fractional ownerships do not allow buyers to hold them in an LLC. Has anyone successfully moved their timeshare or fractional ownership into an LLC after purchase? If so, how did you do it?
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Holding in an LLC?
- Thread starter SamN
- Start date
its not illegal or impossible, however resorts now do pay much closer scrutiny on transferring of an ownership into an assetless LLC or similar because years ago this was a very common exit strategy and as such you may have to provide some documentation on the LLC for the resort to allow the transfer to take place.
Just remember with an LLC that you must keep the company active and qualified to do business where it is created and where it owns. There are annual obligations as well as costs to creating and maintaining the entity's compliance with the laws where formed and where doing business. Agent for service of process. Designated address. Tax returns. In CA for example, the annual minimum tax for LLCs is $800.