The Timeshare Inheritance Dilemma
Recently, our office has seen a significant increase in calls from individuals wondering about Florida timeshare probate after losing a loved one. Many are surprised to learn that timeshares aren’t as simple to inherit as they might think.
Timeshares aren’t just vacation plans—they’re legitimate real estate interests that follow the same legal formalities as other property transactions. With a proper legal description and transfer by deed, a timeshare is absolutely considered real property under Florida law, not personal property as many assume.
Should You Go Through Probate for an Inherited Timeshare?
The real question isn’t just “Can I inherit this timeshare?” but rather “Should I want to inherit this timeshare?”
Before deciding whether to proceed with probate for a timeshare inheritance, ask yourself:
- Will you actually use the timeshare for vacations?
- Could you sell it for a reasonable profit?
- Are the ongoing maintenance fees worth the benefits you’ll receive?
If the timeshare offers little value and is the only significant asset in the estate, the cost of probate might outweigh any potential benefits.
5 Critical Facts About Timeshare Inheritance in Florida
1. The Resale Reality
Most timeshares are extremely difficult to sell on the secondary market unless they’re premium properties in high-demand locations. The resale value is typically a fraction of the original purchase price, if you can sell it at all.
2. Ownership Requires Probate
Despite what a Last Will and Testament might state, you don’t legally own the timeshare until you complete the probate process. This is an unavoidable legal reality in Florida.
3. You Can’t Give Away What You Don’t Own
If the timeshare company suggests you simply quit claim the property back to them to avoid future costs, remember that you cannot legally transfer any interest you don’t yet officially own through probate.
4. You Have Options
You are not legally obligated to accept the timeshare or continue paying its maintenance fees. Yes, you’ll forfeit the property, but this may be financially wiser than assuming ongoing costs for something you won’t use.
5. Market Considerations
While timeshare markets may improve as travel continues to recover post-pandemic, this remains speculative. Base your decision on current facts rather than potential future value.
Understanding Cross-State Liability Risks
The considerations we’ve discussed are particularly relevant when the timeshare represents the only significant asset in an estate. However, here’s something many heirs don’t realize: timeshare management companies and homeowners associations often actively pursue unpaid fees by filing claims against other assets in the deceased’s estate.
Consider this scenario: Imagine Jennifer from Texas passes away with various assets requiring probate administration in her home state. She also owned a beachfront timeshare in Orlando that her family doesn’t want. If her executor simply ignores the Florida timeshare obligation, the resort’s association might pursue a claim against Jennifer’s Texas estate for mounting maintenance fees and other charges, potentially reducing the inheritance her beneficiaries receive.
What This Means For You
Don’t rush into decisions about inherited timeshares without first analyzing how they might affect the entire estate. Speaking with a knowledgeable Florida probate lawyer helps identify options that protect your financial interests while navigating these complex inheritance matters.
Remember that walking away from an unwanted timeshare might seem financially prudent at first glance, but without proper legal guidance, this decision could lead to unexpected complications that affect other aspects of the estate settlement process.
Disclaimer: This blog post offers general information about timeshare inheritance issues but doesn’t constitute legal advice. Every situation has unique circumstances, so please consult with a qualified Florida probate attorney for personalized guidance regarding your specific timeshare inheritance matter.
