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Vacation Ownership is a unique experience. Rely on First American Title to walk you through your transaction each step of the way. Relax, we've got you covered.
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First American Title's Vacation Ownership Services Division provides timeshare owners, partners and project developers with a wide array of services and technology solutions. Our services include conducting title searches, escrow closings (including rental transactions), foreclosures, trustee and custodial services. Discover how our vacation ownership experts can help guide your next transaction.
Frequently Asked Questions (FAQ)
What is a Timeshare?
It is the concept of purchasing a recurring increment of time at a resort, condominium, apartment or other facility.
Why do I need an Escrow Holder for this rental?
An Escrow Holder ensures that both parties receive the goods bargained for. Escrowed funds are not released until all requirements as stated In the rental agreement have been met.
What is Title Insurance?
When a property is financed, bought or sold, a record of that transaction is generally filed in public archives. Likewise, records of other events that may affect the ownership of a property, like liens or levies, are also archived. When you buy title insurance for your property, a title company searches these records to find - and remedy, if possible - several types of ownership issues. First, the title company searches public records to determine the property's ownership status. After this search, the underwriter will determine the insurability of the title. Even the most skilled title professionals may not find all problems associated with a property, though. Some risks, such as title issues due to filing errors, forgeries, or undisclosed heirs, are difficult to identify. So after the title company finishes its searching, it also provides a title insurance policy that will help protect you from a variety of issues that might be uncovered later. If you take out a mortgage loan when you buy your property, your lender will require a loan policy of title insurance. This protects the lender's interest in your property until your loan is paid off or refinanced. On the other hand, an owner's policy of title insurance insures your ownership rights to the property. Even though you'll pay for this policy only once, your coverage will last as long as you own your property. When you buy an owner's policy of title insurance, just think of it as buying some peace of mind!