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:
- State: Texas
Answer:
There are two main types of deeds: a warranty deed and a quitclaim deed. A warranty deed guarantees that the grantor owns the title, while a quitclaim deed transfers only the interest the grantor actually has, without any warranties. This means the buyer takes the property subject to any existing claims, taxes, or liens.
Even if you execute a quitclaim deed to remove your daughters from the timeshare deed, they may still be liable for payments under the timeshare contract. The terms of the contract will determine your rights and obligations regarding the property's transfer. It's important to check with the resort for their specific rules on timeshare transfers. Some resorts may only require you to inform them of your intent to sell.
Quitclaim deeds are often used among family members when ownership is clear or to clear title issues.
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.