Title Insurance, in regards to timeshares, is an optional insurance available for the buyer of a timeshare. Title insurance is used to protect a buyer against potential loss in the event that there are discrepancies within a title of ownership, such as back taxes, and unpaid liens or fees.
In addition, it will protect against any errors or defects with the title or deed which will cause an issue with completing a transfer.
Title insurance coverage extends only to the full purchase price of the timeshare and does not cover any closing costs. All title insurance can vary, so it is important to read over any documentation of the insurance coverage prior to signing.
Title insurance is a good benefit if purchasing from a reseller as opposed to buying direct, as it provides the verification needed to help your transaction go smoothly. As well, in the event you eventually choose to sell the property yourself, the documentation from your purchase will carry over and is able to be accessed for your potential buyer. This way they are able to verify that the title was clean when it transferred to your possession.
