How Do I Transfer a Timeshare to My Daughters?

Q: How much does a lawyer charge to do a quit claim deed?

Lawyers typically charge between $150 and $500 to draft a quitclaim deed, depending on their experience and the complexity of the transaction. Some may offer flat rates, while others charge hourly. It's a good idea to compare fees from several attorneys to find the best option for your needs.

Full question:

I am still paying on a timeshare and want to remove my 2 daughters from the deed. Can I use a quit claim or do I need a warranty deed? Does that mean the Timeshare must remove them?

Category: Real Property
Subcategory: Deeds
Date: 04/07/2025
State: Texas

Answer:

There are two basic types of deeds: a warranty deed, which guarantees that the grantor owns title, and the quitclaim deed, which transfers only that interest in the real property which the grantor actually has. The only type of deed that creates "liability by reason of covenants of warranty" as to matters of record is a general warranty deed. A quit claim deed contains no warranties and the seller doesn't have liability to the buyer for other recorded claims on the property. The purchaser takes the property subject to existing taxes, assessments, liens, encumbrances, covenants, conditions, restrictions, rights of way and easements of record. However, a person who obtains a mortgage or is under a timeshare contract is still liable for payments after executing a quit claim deed on the property. The contract with the other party will govern your rights and obligations regarding a transfer of the property. Check with the resort for their specific rules regarding the sale and transfer of timeshares. Some resorts just require you inform them of your intent to sell. The quitclaim is often used among family members or from one joint owner to the other when there is little question about existing ownership, or just to clear the title.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

How much does a lawyer charge for a quit claim deed?

The cost of hiring a lawyer to prepare a quitclaim deed can vary widely, typically ranging from $150 to $500. Factors influencing the fee include the lawyer's experience, the complexity of the deed, and the region. Some lawyers may offer flat fees, while others may charge hourly rates. It's advisable to get quotes from multiple attorneys to find a price that fits your budget.

What are the disadvantages of a quitclaim?

The primary disadvantage of a quitclaim deed is that it offers no guarantees about the title. This means the grantee may inherit any existing debts or claims against the property. Additionally, if the grantor does not actually own the property, the quitclaim deed does not confer any rights. This lack of warranty can lead to potential disputes or legal issues down the line.

What is the usual reason for using a quitclaim deed?

Quitclaim deeds are commonly used to transfer property between family members, such as in divorce settlements or to add or remove someone from the title. They are also used to clear up title issues or to transfer property without a sale. The simplicity and speed of the process make quitclaim deeds a popular choice for these situations.

Can I quit claim deed my timeshare?

Yes, you can use a quitclaim deed to transfer your interest in a timeshare. However, it's important to check the timeshare contract and the resort's policies regarding transfers. Even if you execute a quitclaim deed, your daughters may still be responsible for any payments associated with the timeshare unless the resort formally releases them from the contract.