Q: Why must a Timeshare be Probated in Nevada when the Owner was never a resident of Nevada?
I inherited these Timeshares and was told the only way to get rid of them is to have them Probated through a Nevada Court. The original owner was never a resident of Nevada. The timeshare Main Office is in Florida. The Will states that I inherit any Real Property. To my understanding that is how Timeshares are classified as "Real Property. I have Probate documents signed by a Judge in California where the original owner was a life long resident. I can not afford a Probate Attorney.
A:
Unfortunately, Nevada takes the position that the timeshares are real property (real estate) not personal property. The deed probably has an Assessor's Parcel Number on it and was recorded as a deed. Nevada does not have a simple affidavit procedure for the transfer of real estate below a certain minimal value. Therefore, the timeshare company is correct that to transfer title you must do a probate procedure called a set-aside without administration. In all 50 states the rule is that real estate must be probated in the state where it is located. In some state timeshares are treated as contracts and not real estate but this is not the case in Nevada.
These timeshare are not automatically put in your name. Eventually, if the annual assessments are not paid the timeshare company will foreclose on them. Technically, to the extent that you inherit from the decedent, the time share company might be able to sue you for any loss they incurred in doing the foreclosure. However, I have not heard of this happening, although I cannot tell you it won't.
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