My $0.02 worth...
I believe if the owner owes money and its transferred to your name then you would be responsible for it.
More accurately, if the current "owner" still owes money, then s/he is not yet actually the "owner" at all. The existing loan must first be paid off before the current "
almost owner" 1). acquires clear title and 2). then has the legal standing to do anything
at all with the timeshare, including sale and transfer to someone else.
If for some unknown reason you really want to pursue an ownership with almost $3k of existing debt, with the next maintenance fee bill right around the corner at this time of year, then I respectfully suggest at least using an established, respected closing company for escrow of all funds. You could, for example, place part (or all) of the current debt amount into escrow as a good faith "deposit" and expression of your sincerity, with the closing company holding
all money until the current "almost owner" pays off the existing note and gains (entirely on their own) clear title, presumably via a new recorded deed clearly reflecting his / her
sole ownership. If the "almost owner" ultimately fails to follow through, the closing company (...not the "almost owner") has your money in an escrow account and will return it back to you.
I certainly would
never recommend ponying up $3k directly to the "almost owner" in debt,
hoping that they will (...maybe, but maybe not...) actually use it to pay off the existing debt, gain clear title, and then transfer ownership to you. You need not (and should not) put
your money at risk over
someone else's existing debt.
