Deed and Record prepares deeds for fractional ownership interest of real property in Hawaii.
Huntington Beach, CA (PRWEB) April 28, 2016
This tip sheet by Deed and Record explains how to change ownership of timeshares, intervals and vacation plans in Hawaii. These types of ownership are fractional interests in real property. Ownership change of a fractional ownership of real property is by deed.
A deed is a document signed by an owner granting his or her interest in real property to another. In Hawaii deeds to change fractional ownership of real property have many names such as; “Vacation Plan Conveyance Documents,” “Vacation Ownership Deeds,” “Interval Deeds,” “Interval Conveyance Deeds,” “Interval Ownership Deeds,” “Interval Warranty Assignments” and "Timeshare Deeds." All of these documents are collectively referred to as deeds. Deeds are recorded with the Bureau of Conveyances.
It is the Bureau of Conveyances’ (the “Bureau”) job to keep track of who owns each piece of real property. Timeshares, intervals and vacation plans are fractional interests of real property and are treated as such by the Bureau. The only way to change ownership of real property with the Bureau is by deed.
For example, a fractional ownership of real property in Hawaii is awarded to one spouse in a divorce decree or marital settlement agreement. It does not matter in which state the divorce occurred. Ownership change must be by deed recorded in Hawaii. Ownership change by deed denies access to the ex-spouse while at the same time relieving the ex-spouse from the obligation to pay maintenance fees.
Another example of a need for a deed is a newlywed wanting the new spouse to have access to the Hawaiian timeshare, interval or vacation interest. Access is granted by adding the new spouse as owner by deed.
As people age or their life styles change, their ability to travel to Hawaii for vacation is limited. The current owners can add children or relatives as co-owners by deed. Co-ownership is usually as joint tenants so that a deceased owner’s interest can be removed without going through probate.
At some point in their lives owners of resorts can no longer travel to Hawaii. To avoid annual maintenance fees the owners gift the timeshares, interval or vacation plan to friends or relatives who want to travel to Hawaii. Gifts are by deed recorded with the Bureau of Conveyances.
Deed and Record prepares deeds for marriage, divorce, joint ownership and gifting. Deeds include legal description, demarcation and interval control number. Deeds are recorded electronically and returned to the customer by email. Customer provides a copy of the recorded deed to the Vacation Resort Club to update their records.
This press release is provided by Mark W. Bidwell. Mr. Bidwell markets timeshare and vacation title transfer services through websites, primarily http://www.DeedAndRecord.com. Deed and Record provides change in timeshare ownership in California, Hawaii, Florida and Nevada. Office is at 4952 Warner Avenue, Suite 235, Huntington Beach, California 92649. Phone is 714-846-2888.