Using a Quitclaim Deed to Transfer an Interest in a Timeshare

Using a Quitclaim Deed to Transfer an Interest in a Timeshare

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A timeshare is an ownership interest in a property and that interest can be transferred to another person with a quitclaim deed.

It is common to have the timeshare management company handle the transfer paperwork however an individual can do it themselves. Timeshares will often require some internal paperwork to be completed in addition to the quitclaim deed. One main reason for the additional paperwork is the maintenance fee. In general, a quitclaim deed will not remove one's obligation to the maintenance fees for the time share.

There are generally two types of timeshare ownership, deeded and right to use contracts.

With deeded contracts the use of the resort is usually divided into week long increments and these are sold as fractional ownership and are real property. As with any other piece of real estate the owner may use his or her week, rent his or her week, give it away, leave it to his or her heirs or sell the week to another prospective buyer. The Owner is also liable for his portion of real estate taxes, which usually are collected with condominium maintenance fee.

With right to use, the purchaser has the right to use the property in accordance with the contract but at some point the contract ends and all rights revert to the property owner. In other words, the right to use contract grants the right to use the resort for a specific number of years. A quitclaim deed what not be of much value in a right to use type of timeshare.
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