Original Message:
Re: BUYING DEVELOPER vs RESALE (typical scenario) (by Mike N.):
adahiscout wrote:I'm not a lawyer or an estate planner, but I thought the process was all potential creditors to an estate are notified via some means (i.e. listing in a local newspaper). The creditor then have x days to file a claim against the estate. After that period of time, the estate is closed.If the timeshare goes into the Estate, the Estate would be distributed to the heirs and retitled as necessary. It can't just sit there forever. I suppose one heir could relinquish a TS in favor of another heir or the estate could sell the TS and distribute the resulting income. If it just sat in an undistributed estate, it seems to me that fees could gradually eat up the estate without doing anyone any good! MD
If this is correct, I cannot see how MFs can drain an estate. Can a resort put in a claim for several years worth of MFs?