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No. of Recommendations: 7
I find myself in an odd (and regrettable scenario). Several years back, my FIL purchased a timeshare in Hawaii, and added my wife to the deed - ostensibly so we could use his timeshare if ever he couldn't. I think we used it once or twice. Fast foward several years, he's divorced, hurting for money, we've had to pay his annual maintenance (to protect OUR credit), and my wife is looking into how we can get ourselves removed. We have no stake in the property, don't care what happens to it. Just want to get away from the liability.

Quit claim deed. You should be able to find out more info from the county/jurisdiction where the deed is filed. I can't recall if your FIL would need to sign it but it's a simple form/document to complete and get notarized then submitted to the court clerk. There will be a fee but it should be less than $100 or so.

That will work for getting rid of the title for the timeshare.

That said, I would investigate this further if I were jeffbrig, before assuming that quit claiming the property will actually rid him of the liability. I know with other real estate, even if one quit claims a property, that does not mean that one is off the hook for a mortgage, deed of trust or promissory note. Getting taken off of those instruments has to be negotiated with the lender, and is separate from just quit claiming title to the real estate.

I have no idea if timeshare maintenance contracts work the same way or not (and I hope I never have to find out). And it may depend on the specifics in the contract. However, if these contracts do work the same way as other security instruments in real estate, doing a quit claim deed may not protect jeffbrig's credit, and it may not actually release him from the liability.

AJ
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