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Can You Quit Claim Deed a Timeshare?

can you quit claim deed a timeshare

March 25, 2021 – by Pam Stuart

can you quit claim deed a timeshare

Are you looking for a way to get rid of your timeshare and don’t want to wait the months it usually takes for an exit? With a quit claim deed deal, you can get out of your timeshare contract and pass it over to someone else who wants it. 

Most owners don’t realize that timeshare can change hands in several ways. They can be sold on the secondary market, resolved via settlements with the timeshare company, donated, or via a quit claim deed.

If you’re in a timeshare contract that you no longer want or need, a quit claim deed could be a great way to reduce your obligations and finally be free of your timeshare liabilities. 

Unfortunately, a lot of timeshare owners enter into their agreements believing that they can cancel at any time or simply return the timeshare ownership to the timeshare company. This is rarely the case

People get stuck for years paying on contracts that they don’t use or can’t afford. For many families, a timeshare is a burden they live to regret shortly after the presentation. Whether you were promised things that didn’t turn out to be true or didn’t fully understand the transaction you were entering, getting professional timeshare exit assistance can help you find a resolution.

Executing a quit claim deed could finally be your way out. 

Let’s explore a bit about what a quit claim deed is and how you can use it to exit your timeshare contract. 

The Quit Claim Deed Basics

With a quit claim deed, you’re essentially signing over ownership of a property or a timeshare to another party. You’re “quitting” your claim on the deed and giving it to someone else. 

After the deal, the name on the title of the property changes, and you are no longer the owner. There is typically no money exchanged in a quit claim deed transaction. For it to be official, the transaction must be filed in the court where the time property or timeshare is located. 

Some people assume that where you live matters. This is wrong. What matters is where the property is located. 

Typically, the person transferring ownership away is called the “grantor”, while the person getting the property is called the “grantee”. Both parties have to sign and agree to the quit claim transaction for it to be final. 

If one party, most of the grantee, does not sign the required paperwork to make things official, then the property or timeshare is still in the grantor’s name according to the law. 

Quit claim deeds happen often when someone wants to pass a piece of property to a family member, business partner, charity, or some other party. It’s relatively rare with timeshare, but it still does happen, especially for people who want to get out of their contracts. 

Tip 1 – Finding a Grantee can be a Challenge

One of the hardest parts of a timeshare quit claim deed is finding a grantee or someone willing to take on the timeshare ownership. 

People who purchase timeshare often do so because they have been manipulated emotionally. Promises of amazing vacations, gifts in exchange for their time, and a false sense of ease that comes from believing they can get out of their contract without much trouble lure them into signing. 

However, when you’re looking for someone to act as grantee for your timeshare property, there are no misleading sales tactics and free nights at luxury resorts that you can offer. The transfer is more transactional, and it requires finding someone who very much wants what you have. 

If you walk up to your average person on the street and tell them you want to give them a timeshare, they’d probably be inclined to listen to what you have to offer. However, things might be different once they understand all of their payment and fee obligations. 

You also have to contend with the fact that timeshare companies are actively marketing to target customers, and it’s more likely that many people would want to deal directly with the timeshare company.

Pro Tip: Timeshare exit experts will have contacts who may be willing to act as grantee under the right circumstances. They can guide you to someone or some party who wants what you have to offer. 

Tip 2 – Quit Claim Deed Regulations Vary by State

Not only do quit claim deed regulations vary by state, but your local jurisdiction may also dictate rules around deeds and transaction recording. Location will also impact the quit claim transaction process. 

In most cases, though, the transaction and associated paperwork will be notarized before it’s recorded at the county level wherever the property is. 

The best thing you can do when you want to get your name off of a timeshare deed is hiring a legal team that can guide you through the transaction. They will know all of the legal requirements involved in making the transaction final.

Every year, there are timeshare owners who sign a quit claim deed thinking they are finally free of their timeshare only to realize later that it didn’t tick all of the boxes that their state requires. 

If anything is off with the paperwork or the process, it could void the transaction. 

Tip 3 – Compare Quit Claim Deed vs. Other Ways of Getting Rid of a Timeshare

The quit claim deed is a viable option for people who want to shed their ownership and free themselves of financial obligation. 

People want to get out of timeshares for all sorts of reasons, though, and often there are way more people wanting out than wanting in. That can make finding someone to take on the deed complicated. 

Finding legal assistance and dealing with an expert timeshare exit company can help you decide on the best way to get rid of a timeshare. Some of your options include:

Tip 4 – Follow the Letter of the Law When You Have a Grantee Lined Up

If you’re one of the lucky people who find someone to take on your timeshare deed, then a quit claim deed transaction is a good way to transfer your timeshare away. 

A quit claim deed transaction, however, is still a legal transaction. Legal experts familiar with local regulations will walk you through the process and get things done right. 

Both parties sign the necessary documents. Notarize the transaction and file it with the local government where the timeshare is located.  

Insider Info – Quit claim deeds often involve some level of negotiations. Grantees know that grantors, or owners, want out of their timeshare. Thus, they typically try to get other incentives thrown in. Having the advice of a timeshare exit expert is great way to find the best deal no matter what. 

Tip 5 – Find the Best Possible Legal Expertise on a Timeshare Quit Claim Deed

How can you find the best advice on whether a quit claim deed is right for you? 

Timeshare exit companies exist to help timeshare owners fight back against unfair contracts and misleading timeshare presentations. They have years of experience working with large timeshare companies and know how they operate. 

Spend some time online reading reviews and learning about others’ experiences dealing with timeshare exit companies. Find some companies with a good track record and give them a call. Ask them some questions about how they operate and what kind of advice they’d give you with your timeshare. 

At PMG, we know how important it is to find your way out of a timeshare you no longer want to own. 

It’s our goal, with every client, to minimize your costs and make things happen quickly to get you the results you expect. 

We regularly assist clients with quit claim deeds and know how to make sure the transaction is legal and meets all pertinent regulations. Contact us today for a free consultation about your situation and hear how we can help!

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. Let us help you. Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, the resorts are loath to give back the money they’ve already taken for timeshares.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.