Skip to main content
No. of Recommendations: 2
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.


As usual, AJ is right. The quit claim only applies to the deed. If the OP is on any type of paperwork with the maintenance company, that will need to be addressed separately. IIRC, having done so a while back, I *think* that a request just needs to be sent to the maintenance company (along with a copy of the new deed) requesting that DW's name be removed.

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.