TITLE CHANGE PROCEDURES
If you are changing title of your unit week to someone else whether you are adding an individual(s) on title, selling, giving to a family member, giving to a church as a donation, etc. you will need to do the following:
- Consult our office to begin preparing deed(s) and/or closing. An administrative fee of $150.00 per deed, $75.00 for each additional, applies. Deeds must be recorded in Broward County to become official. They must also be completed properly or they will be rejected. A will or divorce settlement is not a deed and does not transfer property.
- If there is money involved in the transaction, a contract is needed. You do not need a contract if you are merely transferring title with no money involved.
- A Certificate of Approval ”CoA” will need to be completed for all ownership changes in the amount of $35.00. Windjammer must be notified in advance to approve all new ownerships. A CoA is not needed if you are only adding members to an existing valid deed.
What happens in this process?
Once the Windjammer receives the request, a Certificate of Approval (a document from the Association acknowledging/authorizing the transfer) is prepared and sent to the closing agent or attorney. If the unit(s) are being sold, then a contract needs to be signed by both parties and a copy sent to the Windjammer. The attorney will prepare the new deed and mail it to the titleholder or seller for signature. Once deed is signed over, it is sent back to the attorney for recording in Broward County. The attorney will record the documents. If money is involved in this transaction a HUD or Settlement Statement will be prepared by the attorney as well. This document will need both party’s signatures. The original documents will be mailed to the new titleholder for their records. This entire process will take approximately 30 days.
We highly suggest that if an individual is in their golden years and would like the unit to transfer to another individual or their heirs after their passing to change title NOW. Everyone involved will save time and money in the long run. For instance, if Mr. Smith is in his 80’s and is thinking about what’s going to happen to his estate after his passing, he should put the individuals names on title now. If he passes and his estate goes into probate it’s very costly for the individuals who should acquire the unit/week. It cost more than the unit/week is actually worth in most cases. Please consult an attorney.
The following was provided by Attorney William D. Beamer Esquire:
Timeshare is considered the same as Real Estate in the State of Florida.
If you are married and both husband and wife are on title, then you both are considered ONE entity and if either one passes, the surviving spouse inherits the property without the necessity of probate.
If you are married and you are the only one on title and you pass away, your spouse DOES NOT inherit the property automatically. It WILL BE NECESSARY to file a probate action in the State of Florida in order to transfer the property to the surviving spouse.
If you are married and both husband and wife are on title and (I) elderly; (2) have health issues, or (3) have concerns about both of you passing in a common disaster, and you want to make sure your child(ren) inherit your timeshare without the need for probate, you may add them to title by Quit Claim Deed and show them as joint tenants with the right of survivorship. This will avoid the necessity for probate, and as each owner passes, the survivors automatically take ownership.
“As Joint Tenants With the Right of Survivorship” - If you wish to avoid probate, this language is required and must follow on the Deed after the names of the Grantees. The only time it is not required is when you are a married couple and both are on title.
“Joint Tenants in Common” - This means that if you are on title with another person(s) and it is not with your spouse, and the language Joint Tenants With the Right of Survivorship is NOT indicated, then you and the other owner(s) have a partnership and own equal portions each. This does not avoid probate.