As a Jacksonville Estate Planning Lawyer I get questions from Lawyers and clients all over the country on how to deal with a Florida Timeshare and if it is necessary to open a separate Florida Probate for the timeshare.
It is important to determine if there is any value in the Florida Timeshare property. To do this you may think about the following issues:
- Generally timeshares are worthless and hard to sell.
- Since a timeshare is an interest in real estate, a Florida Probate must be used to transfer the property no matter what is done in any other state or what a will states. The only exception to this is if the timeshare was owned in a trust.
- Many management companies will suggest that if you deed the property back to them you will not be responsible for the fees, the only way to do this is by a Florida Probate unless it was owned by a trust.
- Even if you are named as the beneficiary in a Will, you have no personal obligation to pay any fees, unless and until the property is deeded to you through a Florida Probate.
- If you do a probate in another state, it is possible to give them notice and if no claim is filed, you can abandon the property and not be required to open a Florida Probate. (check with your local probate lawyer on this issue)