Is joint ownership possible with timeshare properties?
Yes, two or more individuals may obtain ownership of a timeshare property. However, the exact nature of the joint ownership should be considered. A “tenants in common” ownership interest implies that all owners share equal portions of the property, which may consequently be passed on to heirs as outlined by a will. The owners may also be “joint tenants with right of survivorship.” In the case of one owner’s death, this arrangement would mean that all rights are passed on to the surviving owners—regardless of what may be claimed in the deceased’s will.
