Whether you are looking to add or remove a co-owner of a timeshare, transfer to an ex-spouse, or sell to a new buyer, the first question you need to ask yourself is, is your loan paid off?

As a rule of thumb, many resorts will not accept any change in ownership as long as there is an open loan with an outstanding balance remaining on a timeshare. The exception to this rule is a transfer of a timeshare into a living trust. This type of transfer does not change ownership of a timeshare but rather how the timeshare is owned.

What are the biggest concerns of making changes with an open loan?

Timeshares with open loans are unattractive to new buyers. A new buyer would immediately have to assume the loan which is likely to be greater than the market value of the timeshare.