SVO 2BR LO - Title Split

Greetings,

This is a bizarre question, but hey...what better place to ask it than here

Can an owner of a 2BR LO, break apart their 2BR LO in the form of two different Titles , one for a 1BR LO Premium and the other for a 1BR LO?

I'm sure this process would involve alot of fees to rewrite the titles...has anyone ever heard of anyone doing this?

Why would you want to?
Someone purchases a 2BR LO and later wish they wish to only keep the 1BR Premium portion of the 2BR LO, then how could they sell the other 1BR LO (the other half)?

Probably better to have purchased them buy them both seperatly in the beginning, but trying to get two seperate resale weeks an then try to combine them in to a 2BR LO stay might also be a problem?

Just wondering...

Gratefully,

The only thing that is common to do is buy an EY and split it into two EOYs, so you have two deeds. This costs $40 more a year in MFs for the paperwork, and may incur a $33 second interval charge, depending on how it was purchased.

I have never heard of anyone breaking up a deed after the fact. Starwood did not sell studios only, but they did sell 1 bedrooms. Someone could have purchased an EY 1 bedroom and broken it into 2 EOY 1 bedrooms.

deniselew said:

The only thing that is common to do is buy an EY and split it into two EOYs, so you have two deeds. This costs $40 more a year in MFs for the paperwork, and may incur a $33 second interval charge, depending on how it was purchased.

I have never heard of anyone breaking up a deed after the fact. Starwood did not sell studios only, but they did sell 1 bedrooms. Someone could have purchased an EY 1 bedroom and broken it into 2 EOY 1 bedrooms.

Click to expand...

Generally, you can not change the deed in the way the OP or Denise suggested. You all know, how difficult it is to split a residential lot into pieces. I believe it is even harder to split a TS into pieces.

I agree that you can't split a deed.

However, with Starwood, at least, you can purchase an EY and split it into a purchase of 2 EOYs. You get two deeds. It's not really a "split," just two purchases. These could then be sold as two separate deeds.

That's all I was talking about.

For most timeshares: The timeshare legal documents to which you agree to be bound when you purchase, even if you purchase resale and don't know what the documents say, generally prohibit the splitting of a deed.

Some people want to make an EY into an EOY. Some have two families as owners and want separate deeds for each family. Etc.

Generally, if you try to do it, the resort will not recognize the split and will deal only with one owner for the approved original deed arrangement.

Based on what Denise says, Starwood appears to be an exception to the general rule. However, if you do it without Starwood approval, you'll likely be wishing you had sought approval.

Dave,

You are right. Starwood will only divide your EY purchase up if you ask them at the time of purchase. There is no way to do this after the sale. And what they are really doing is just selling you two EOYs for the price of one EY. Does Marriott also do this?

Buying a two bedroom lockoff and doing separate deeds is not an issue at time of contract because I have two friends who were not married yet and did this at Harborside--after the fact I am not sure it can be done--but if you plan to do it do it at time of contract.

I think I remember my salesman at SMV saying that when we die and leave it to our kids that we could leave one side of the lockoff to one child and the other side to another child. This would make me think you could get two seperate deeds. Or my salesman may have been talking out of.............

Which kid gets the 1BR LO and which one gets the 1BR Premium

Just kiddin'