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Re: Timeshare Appraisals for Estate Disposition (by Carvan A.):

stevenb119 wrote:

I guess I am the one who should apologize for not being specific in my inquiry. I had no idea how muddy the waters were with regards to appraisals on timeshares. I had ASSumed that someone would immediately pop up with "oh yeah I know a guy in Tahoe who appraises timeshares", and that would be the end of it. I guess sometimes one learns only by doing, and in the future I shall be very specific on the details so people aren't guessing. Still the problem exists, how does one satisfy the California Court requirement for an appraisal if n one is to be had?

You indicate the timeshare to be appraised is at Lake Tahoe on the California side. I suggest you look in the yellow pages and locate a certified real estate appraiser. I suggest you select an MAI (Member American Institute of Appraisers) because an MAI is qualified to appraise any type of real estate and the estate's timeshare is certainly real estate.

An MAI typically locates comparable sales that qualify as a fair market sale, that is, a sale between a willing buyer and a willing seller both of whom are under no duress to buy or sell and who are aware of the highest and best use of the property. The MAI finds these sales by running the grantor index to deeds and identifys sales of comparable timeshares in the area and especially in the resort in which your timeshare is located. They cull out those that do not meet the fair market value definition (EBay auctions, developer sales, postcard company sales, and family transactions) and use the remaining sales to arrive at an indication of the value.

All probate courts including all in California accept an MAI appraisal. It may cost a little more than you are willing to pay but if you want a valid appraisal that will pass court muster go the MAI route.