If I "quit claim" my timeshare to a family member (no mortgage) will they become responsible for annual fees?

Question

In South Carolina, will the quit claim deed and bill of sale be sufficent? I do not live in that state.

Answer 1

Nope. You're still on the hook unless you work with the timeshare company to transfer the maintenance.

Answer 2

1. You'll want to check your timeshare agreement. Read through it and see if you're even able to transfer your interest in the property in the manner you're considering. Most likely, the agreement will detail the in's and out's of transferring the property as well as the different methods by which you can convey it in addition to any other restrictions they might have.

2. If you've not checked with your time-share company, you may want to consider doing so. They would definitely be able to answer this question directly, and could tell you many things in much more depth than could be answered through a post (in my opinion).

3. A quit claim effectively transfers all of one person's interest in a property to another person, without guaranteeing in any way the condition or saleability of the property. On a related note, I would suggest that although this seems like a relatively easy matter that you might be able to do yourself, I would personally recommend contacting a local attorney to get advice on your situation. He or she would be far more familiar with state laws on this issue, and aome attorneys do not bill for initial consultations.

Good luck to you.

Answer 3

You will need a document called an Acquisition of Estoppel Certificate. In this document, you can detail resposibility for all fees, past, present, and future.

Answer 4

maybe, is there a lease or agreement that addresses this possibility? I'll bet they have foreseen this eventuality and there is probably a document that allows or disallows this.