Transfer of deed to adult child BEFORE "estate"

[JRW8468]

Hi all,

Trust most of you are well, and fully enjoying the incredible amount of info available here! I was searching for what I thought/think is indo on a question I can't seem to directly locate:

My wife and I purchased (YEARS ago) a Vistana floating deeded arrangement: 1 week, only ODD years. We have kept maint fees current, tried to follow the "machinations" of the RCI/Sheraton/Marriott/II saga, but only occasionally use a week. We have 2 questions which, boiled down for simplicity are:

1. Will this Title become part of our Estate?
2. Can we "transfer or gift" the Title--BEFORE we have our final Estate!

I've been able to get off most of the scam calling bots; although selling may be an option-- it certainly appears more complicated than I expected.

Thanks very much for reading this, and for the favor of replies if able.
JRW1234 in NJ

 

[vacationtime1]

The short answers to your questions are "yes" and "yes".

But those decisions should not be made in a vacuum; the real answers depend on your age, your heirs (and whether they want this unit), your finances, and the remainder of your estate plan.

 

[VacationForever]

If you don't want it, you can try to give it away on TUG here. If no one bites, then you can offer to transfer it for free, i.e. pay for the transfer, usually costs under $200. There is no market value for it.

 

[DeniseM]

How to give your timeshare away on TUG: https://www.tugbbs.com/forums/index.php?threads/how-can-i-give-away-my-timeshare-on-tug.132509/

 

[bankr63]

But you don't HAVE to transfer the deed. If no one is interested, the deed just goes back to the resort. Death is about the only way to easily get out of the timeshare obligation. After all, mortgage is actually a compound of the words "engagement" (gage) to the death ("mort"); an engagement to your death. When you die, no one can be forced to take on the obligation.