Time share is a type of property right under which the purchaser of a time share has access to the 'share' they own in a property for a specific 'time'. Time-shares have been sold for cruises, recreational vehicles, campgrounds, and many other types of properties, but their most popular use is for shares in condominiums at timeshare resorts.
A Warranty Deed s provides the most protection against defects of title- covenants that the grantor has title to, and the power to convey, the property; that the buyer will not be disturbed in possession of the land; and that transfer is made without unknown adverse claims of third parties. A Special Warranty Deed only that the grantor held good title during his or her ownership of the property, not that there were no title defects when others owned it. If all liens and encumbrances are disclosed, the seller is not liable if a third person interferes with the buyer's ownership.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Delaware Deed to Time Share Condominium with Covenants of Title is a legal document that outlines the ownership rights and responsibilities associated with a time-share condominium unit located in the state of Delaware. This type of deed lays down the contractual terms and covenants that govern the ownership and transfer of the time-share unit. Keywords: Delaware, Deed, Time Share Condominium, Covenants of Title, ownership rights, responsibilities, contractual terms, transfer. There are several variations of the Delaware Deed to Time Share Condominium with Covenants of Title, each serving a specific purpose. Some common types include: 1. General Time Share Deed: This type of deed establishes the core ownership rights and responsibilities for the time-share unit. It outlines the time-share owner's exclusive right to possession and use of the unit for a specified period each year. 2. Fixed Week Deed: This type of deed grants the time-share owner the right to use the unit for a specific week of each calendar year. The week remains constant, allowing the owner to plan their vacations accordingly. 3. Floating Week Deed: Unlike the fixed week deed, the floating week deed allows the time-share owner to choose a specific week within a designated period each year. This provides flexibility in scheduling vacations. 4. Points-Based Deed: In this type, the time-share owner is assigned a certain number of points that can be used to access and book accommodations within the time-share resort network. The owner can use these points across different units and weeks, depending on availability. 5. Right-to-Use Deed: This type of deed grants the time-share owner the right to use the unit for a specific number of years, typically ranging from 10 to 99 years. However, the ownership of the unit remains with the developer or management company. It is important for potential buyers or sellers of a time-share unit in Delaware to carefully review the specific type of Delaware Deed to Time Share Condominium with Covenants of Title they are dealing with. Each type of deed may have different terms, restrictions, and benefits that could impact their time-share ownership experience.
