Do your children have to assume a deeded timeshares legal responsibilities after the parents death?
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Do your children have to assume a deeded timeshares legal responsibilities after the parents death?
We own a deeded timeshare that has been difficult and expense to exit or resale,
and none of our children wish to assume the ownership after our passing.
Asked on August 11, 2019 under Real Estate Law, Virginia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
No, they do not have to do assume the timeshare's legal responsibilities. Neither contracts (agreements to do or pay something) or debts/obligations are inherited. If you owe money to the timeshare when you pass, the timeshare company could try to sue or claim against your "estate" (what you leave behind) and could potentially take money that would otherwise be available for your children to inherit, but that's the limit of what they can do: they cannot make your children pay out of pocket or take over the obligation.
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