How To Remove A Name From A Timeshare and Quitclaim Deeds
How do you remove a name from timeshare? What is a Quitclaim Deed?
Already a year into the global pandemic, tourism has suffered enormously. Many individuals are looking to change ownership of their timeshare and may find that it is important to understand Quitclaim Deeds.
Perhaps changing the names on your timeshare deed is the furthest thing from your mind, but in case this does apply to you, Quitclaim Deeds will need to become a part of your lexicon.
Reasons for changing the name listed on your timeshare contract will vary: Maybe you purchased a timeshare with family and have come to find that only one person is using it. Perhaps you’ve just been married and need the timeshare deed to reflect your new name.
Some of the most common reasons to have a name removed/changed on the timeshare deed include:
- Transfer into a trust
- Transfer into a company name
- Removing a deceased persons name
- Name change resulting from marriage, divorce or legal change of name
- Transferring to children or other family members
What is a Quitclaim Deed?
In the most simplest of terms, a Quitclaim Deed (also referred to as Quick Claim Deed or Quit Claim Deed) is a legal document that transfers interest in real property from one person to another. Each state has their own regulations on whom the deed must be signed by and what it must contain, so it is wise to seek legal counsel when considering this type of action. A few hundred dollars for an attorney to assist you through the process is worth the thousands you could end up spending later when you find out you’re still responsible for timeshare payments.
Where Does the Quitclaim Deed Need to be Filed?
During the pandemic era, most legal documents can be filed remotely, however you will need to confirm this with your specific developer. Further, if it is not urgent to change the name on the deed perhaps wait until you are able to travel and certain you would like to continue with your timeshare.
A Quitclaim Deed needs to be filed in the county where the timeshare is located. The Quitclaim needs to be notarized before it can be recorded with the county clerk’s office. The Quitclaim deed used will also need to be from that particular state, despite where you live.
To be legally effective, it must be signed by the grantor, the person giving up interest in the timeshare, and describe the timeshare property. Most states also require the person being granted the timeshare, called the grantee, to sign as well. Issues can arise if the deed is only signed by the party wishing to give it up, because this gives the option to the person being given the deed to refuse sole ownership, meaning the grantor will still have an interest in the property.
Who Needs to Sign the Quitclaim Deed?
To put it another way – if there is anyone else listed on the timeshare deed and they do not sign the Quitclaim, their rights to the timeshare will be unaffected. The Quitclaim deed will only affect those who have signed.
How to Get a Quitclaim Deed?
There are a number of web services that specialize in legal documents – Law Guru, Legal Zoom, and US Legal Forms are a few examples. A Google search for “Your State Quit Claim Deed” is bound to yield some results. If you aren’t comfortable going this route, either contact a timeshare lawyer, other property lawyer or even the resort through which the deed will need to be executed.
An important clarification –
The purpose of a Quitclaim deed is for a person listed on the timeshare deed to be able to dissolve their interest in the property. The Quitclaim only works if the person being given the timeshare also signs and agrees to accept the property. Therefore, you may not unilaterally decide to give your timeshare to someone else or to take yourself off of the deed without the other involved parties consenting.
There are some very helpful ways to avoid the challenges of timeshare foreclosures.
I have come across discussions on various forums from people saying they were going to use a Quitclaim to return their timeshare back to the resort. This may sound good in theory, but the likelihood of the timeshare resort taking the timeshare back is unlikely. Remember, the person/entity to whom the timeshare is being transferred has to also agree to accepting the property. It does you no good to complete the Quitclaim Deed to dissolve your interest in the property if the other party is unwilling to accept it – in the eyes of the law it is still yours.
Please, always remember to consult a legal professional in all matters relating to timeshares, as this can be an area of muddy water and the regulations may vary from one resort to another drastically.
