How do you remove a name from timeshare? What is a Quitclaim Deed?
Reasons for changing the name listed on your timeshare contract vary. Maybe you purchased a timeshare with family and have come to find that only one person is using it. Perhaps you’ve just gotten 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 simplest 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?
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 county clerk’s office. The Quitclaim deed used will also need to be from that particular state, despite where you live.
Who Needs to Sign the Quitclaim Deed?
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.
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 I 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.
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 not very good. 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 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.