Timeshare Resale Fraud - Resale Checklist

Even though it is seen as a vacation-use product, selling a timeshare usually involves the same steps involved in selling real estate, such as a house. Before selling your timeshare, make sure that you have your paperwork in order. The following checklist should help:

• the name, address, and phone number of the resort
• the deed, and the contract or membership agreement which clearly identifies the timeshare you own
• the financing agreement (if you are still paying for the property)—remember you’ll have to pay this off before you can transfer your timeshare to a new owner
• any title insurance information
• any other information to identify clearly your particular interest or membership
• the exchange company affiliation
• the amount and due date of your maintenance fee, and whether it has been paid for the current year
• the amount of real estate taxes (if billed separately), the due date, and whether they have yet been paid for the current year
• the date your timeshare will next become available for use by a new owner or when a new owner can first make a reservation
• whether or not your timeshare is a fixed week and/or unit or requires an advance reservation (a floating or flex-time timeshare)
• gather copies of the documents governing the resort owner’s association, if any, the resort’s rules and regulations, reservation rules and any other information that would be helpful to a new owner, such as area attractions
• know whether or not your vacation interest is legally classified as real estate or personal property, as this will make a difference in how it is conveyed to a new owner

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