I was looking at the platinum closing and wanted to know what an estoppel report is? Thinking about selling my timeshare and just want to have a clear understanding about this. May have more questions, so bear with me.

W. Spade

Hello spades,

This is real estate document known sometimes as an estoppel letter, report, or certificate and it is essentially the account status of the timeshare. This document will contain information from the resort about the status of the maintenance fees, taxes and other fees.

This is included with our PLATINUM AD LISTING.

Please feel welcome to inquire further. I am always happy to help and our forum visitors have a lot of good answers/advice as well.

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Hello. Me again, with more legal chat. Below is the legal definition of Estoppel. Legal Estoppel is used not strictly for timeshare and this post is meant only to compliment the timeshare forum administrator's general explanation.

Legal estoppel consists of estoppel by deed and estoppel by record. Under the doctrine of estoppel by deed, a party to a property deed is precluded from asserting, as against another party to the deed, any right or title in derogation of the deed, or from denying the truth of any material fact asserted in the deed.

Here's more. Perhaps more relevant to timeshare closing and a bit easier to grasp:

An estoppel certificate is a written declaration signed by a party who attests, for the benefit of another party, to the accuracy of certain facts described in the declaration. The estoppel certificate prevents the party who signs it from later challenging the validity of those facts. This type of document is perhaps most common in the context of mortgages, or home(timeshare) loans.

Charles

My timeshare is in Cabo San Lucas, Mexico and is not a deed like some timeshares are. It was my understanding that it is leased timeshare for 99 years, originally. So, is the closing process the same? The timeshare salesman told me that it was the same as a deed, true?

A timeshare Lease ownership or Right-To-Use is the standard with Mexico timeshare and, yes, the timeshare closing process is basically the same.

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