Estate Handling of a TS
Post reply
Original Message:
Estate Handling of a TS (by Mike N.):
jayjay wrote:Based on Carvana's posts, the resort might not even get to file a claim in the alloted timeframe at which time the estate is settled (did i I understand that right?). What funds are then available in the estate to continue to pay MFs? Maybe the will should be written such that the TS is put into a trust and $$ is provided to pay the fees for some predetermined time. Then the estate can be closed. Eventually though, the trust will run out of money (but would the trustee be liable?). IMO, in either case, if the resort takes back the TS, then it can be rented or resold. As Arte Johnson used to say, "Verrrrrry Interesting".All owners will die sooner or later so if a resort took back weeks from deceased owners it would one day go bankrupt due to lack of paid maintenance fees. A resort's bread and butter are mainteance fees.The same would be said of any debt the deceased owes after his/her death. The estate is responsible for those debts.