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.
Puerto Rico Deed to Time Share Condominium with Covenants of Title is a legal document that transfers ownership of a time-share condominium unit in Puerto Rico. This type of deed is specific to time-share properties and ensures that the property is free of any encumbrances or defects in title. The deed contains important covenants, which are promises made by the granter (the seller) to the grantee (the buyer) that guarantee certain legal assurances and rights. These covenants aim to protect the buyer's interest in the time-share property and provide peace of mind regarding the ownership rights. Some relevant keywords associated with Puerto Rico Deed to Time Share Condominium with Covenants of Title include: 1. Time-share condominium: Refers to a property that is owned by multiple individuals who each have the right to use the property for a specific period annually. 2. Deed: A legal document that transfers ownership of a property from one party to another. 3. Puerto Rico: Refers to the U.S. territory located in the northeastern Caribbean Sea. 4. Covenants of Title: Promises made by the seller to the buyer that ensure the property is free from any liens, encumbrances, or defects in title. Different types of Puerto Rico Deed to Time Share Condominium with Covenants of Title may include variations in specific covenants, rights, or terms of ownership. However, the basic purpose of the deed remains the same — to transfer ownership of a time share condominium unit with a guarantee of clear title. It is important to note that legal advice should be sought when dealing with time-share properties or any property-related transactions. Consulting with a real estate attorney or a qualified professional in Puerto Rico is recommended to ensure compliance with local laws and regulations.
