Transferring deeded ownership of a Canadian timeshare....

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Similar to closing in the Bahamas, Canada requires a Canadian lawyer (also commonly called a solicitor) or notary to be involved in the transfer of deeded property and handle the required paperwork. Many closing agents in the states can still assist with the closing/escrow and take on much of the frustration and process for you, but they will still have to secure a Canadian notary for the documentation requirements.

If your preferred closing agent states they can handle the transfer, always ask for the name of the Canadian lawyer they plan on using and confirm that they have assisted with transfers at your resort in the past.

In most provinces, the purchaser is normally assumed to incur the transfer costs. These should include administrative and mailing fees, notary and filing fees, resort transfer fees, and the property transfer tax. If your agreement calls for the seller to share or pay costs, be sure you explain this fully to the solicitor or notary.

Costs vary widely by resort and solicitor, so when possible you should get several quotes. However, that being said- it can be difficult to locate a solicitor willing to assist with (and knowledgeable about) a timeshare transfer. Some resorts have a preferred notary they'll refer you to, so you may want to check with your resort for a referral.

Also, anytime you are dealing with a Canadian solicitor- ensure you ask upfront if they will handle the complete transaction for both buyer and seller. In the past, I've had clients secure a solicitor for a sale- only to find out later that the solicitor wanted another attorney involved for the other party- which means more money!

[bevvy5 Moderator Find all posts View Profile Close bevvy5]

Also, anytime you are dealing with a Canadian solicitor- ensure you ask upfront if they will handle the complete transaction for both buyer and seller. In the past, I've had clients secure a solicitor for a sale- only to find out later that the solicitor wanted another attorney involved for the other party- which means more money!

As a retired British Columbia notary, I can tell you I would NEVER agree to work for both vendor and purchaser - if there's a problem, you're going to get nailed from one side or the other in a conflict of interest claim against your insurance (and you get to pay the deductible and probably face a disciplinary infraction)

That being said, usually the seller's end is fairly straightforward for a timeshare deal and it would be rare that more was needed than simply having the transfer form notarized and returned on appropriate undertakings (trust conditions).

I also agree that usually the best course of action is to simply deal with whoever the timeshare usually recommends. I did a timeshare deal for a TUG member and it was just an awful lot of work for a small amount of money. It was a learning experience but I never did another one.

JMHO and should not be construed as legal advice - old habits die hard so I have to put that in there/

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Thanks for sharing your point of view. I can certainly appreciate liability concerns from the part of the closing agent, and admittedly never really looked hard at this issue from that viewpoint. I've always focused on how the process evolves for the buyer and seller- with the solicitor or notary simply being a means to that end.

In your opinion, bevvy5- would transactions that go through a US closing and escrow company (who then directly engage the notary simply for document preparation and recording) carry less risk for the notary? Or would the opposite be true- that less control and direct client contact would lead to more risk?