So you are looking for information to find whether you can use a “Quitclaim deed” to get rid of a timeshare? Short Answer – Yes you can do a quit claim deed to get out of a timeshare but there must first be a willing party in order for a quit claim deed to be lawful and valid.
If you have been made to believe that you can simply “give it back” or just “dump it” on someone by issuing a quit claim deed without the party’s knowledge, or acceptance, you are completely mistaken. In fact, to record a quitclaim deed without the grantee’s consent is a criminal act and is considered as a fraud.
What is actually a Quit Claim Deed?
A quit claim deed is a deed recorded that transfers to the grantee any and all of the legal rights the grantor has for a property. The owner needs to record a “quitclaim deed” at the local courthouse with jurisdiction over the timeshare.
How To File a Quit Claim Deed
The Quit claim deed needs to be filed in a local court in which the timeshare property is located irrespective of where you reside. It will have to notarized with the county clerk.
Signatures Needed for the Quit Claim Deed
First of all, the Quit Claim Deed must be signed by the person who is giving up interest in the timeshare and is called the grantor. Second, the person to whom the property is being granted – called grantee – must also sign the Quit Claim Deed.
If the grantee does not sign the Quit Claim, problems can occur in the future. For example – If the grantor is the only one who has signed the Quit Claim Deed, and the grantee refuses to accept ownership later, the grantor will continue to own the property and will be liable for all payments and expenses.
How To Obtain a Quit Claim Deed
There are many services online that provide legal forms for each state located on their state websites. A search for “State Quit Claim Deed” will more than likely provide you with several possibilities.
However, if you aren’t comfortable using the Internet, contact a lawyer who specializes in timeshare property cases, or possibly the resort through whom the deed will have to be executed.
Remember, it is not in the power of one individual to unilaterally decide to remove their name from a timeshare and grant it to another through a Quit Claim Deed. Both parties need to have their consent and signature for the Deed to be of any use to get rid of a timeshare.
It would be a waste of time to complete the Quit Claim Deed only to have the other party deny it. In such a case, legally the property will continue to belong to you.
If you want a better way to get rid of your timeshare, why not submit your details to the form above in this page. We will contact you for help within 24 hours.