How to Remove, Add or Change an Owner of Intervals, Vacation Plan, and Timeshares in Hawaii
Change in owners of Hawaiian fractional interests is by deed for trusts, limited liability companies, and gifts. A deed is needed to add or remove a co-owner due to divorce or marriage or to allow access to the timeshare resort.
By: Deed and Record
A deed recorded with the Bureau of Conveyances is needed to change, add, or remove an owner of a timeshare. Trusts, limited liability companies, and gifts require a change in owners. Divorce, marriage, or allowing or preventing access to a timeshare resort requires adding or removing a co-owner.
Trusts are created to avoid probate. To avoid probate, the trust must own the timeshare. The current owner signs a deed to transfer their ownership to their trust. On the owner's death, a second deed transfers ownership out of the trust to the beneficiary who is to receive the timeshare.
A person forms a limited liability company for tax purposes and liability protection. To work, the timeshare must change from the owner to a limited liability company by deed.
Deeds are used to gift timeshares. The current owner no longer uses the timeshare but continues paying annual maintenance fees. A win-win situation is to gift the timeshare to someone who will use the timeshare. The new owner has access and use to a timeshare in Hawaii. The prior owner is relieved of the obligation to pay maintenance fees.
In divorce, a deed removes one spouse as owner. Removing a spouse is important because as long as both ex-spouses remain owners, both have access to the timeshare and are liable for the maintenance fees.
Deeds also add a spouse, friend, or relative as a co-owner. Adding a new co-owner gives the new owner access to the timeshare. Adding new owners as joint tenants avoid probate on the death of a joint tenant owner.
A deed recorded with the Bureau of Conveyances is needed to change, add, or remove an owner of a timeshare. Trusts, limited liabilities companies, and gifts require a change in owners. Divorce, marriage, or allowing or preventing access to a timeshare resort requires adding or removing a co-owner. The recorded deed is forwarded to the timeshare company to update their records of owners.
For more information.
This press release is provided by Mark W. Bidwell who uses the website DeedAndRecord.com for marketing. The office is at 4952 Warner Avenue, Suite 235, Huntington Beach, CA 92649. Phone is 714-846-2888. Email is Mark@DeedandRecord.com.
Mark W. BIdwell 714-846-2888
4952 Warner Ave, 235, Hutntington Beach, CA 92649