Posted on: 25th Dec, 2012 05:57 pm
Greetings. Today is Christmas. Yesterday my two brothers and I were informed by our stepmother that she had deeded her share in a New Orleans timeshare she owns to us as a "Christmas gift." The fees are all paid up including this coming year. However, we have no interest in the timeshare or in the annual financial obligations it entails. I'm assuming the timeshare management firm (Wyndham) has filed a quitclaim deed transferring her "interests" (and obligations!) to us - Merry Christmas! We've already informed her we can't afford it and are uninterested in it. Her response is "too bad, it's already transferred to your names, if you don't want it, just sell it." Selling timeshares like this is a joke (hundreds are listed for $1 on eBay, in much better places, and find no takers). I assume what we now have to do is find a good real estate attorney in New Orleans and contest the quitclaim deed we knew nothing about until we were informed the transfer was "complete." Is this correct? I've read that there's a 2-year statute of limitations in most states for contesting a quitclaim deed. Legally, what are our liabilities to the management company as the grantees of a quitclaim deed on a timeshare we knew nothing about? We signed nothing. Thanks in advance for your thoughts and advice.
Hi Chris,
You can definitely get in touch with a real estate attorney and take his help in this regard. He will let you know whether or not you can take any legal actions in this situation.
Thanks
You can definitely get in touch with a real estate attorney and take his help in this regard. He will let you know whether or not you can take any legal actions in this situation.
Thanks
Hi Chris!
Welcome to forums!
I agree with what James has said. Contacting a real estate attorney may be a good option. Nevertheless, you may even sign a quitclaim deed and revert back the property to your step mother.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with what James has said. Contacting a real estate attorney may be a good option. Nevertheless, you may even sign a quitclaim deed and revert back the property to your step mother.
Feel free to ask if you've further queries.
Sussane
One is not required to accept a quitclaim deed for it to be valid, delivery is sufficient. I had a similar problem with a timeshare: I couldn't sell it and the annual fees went over $500. I finally quitclaimed the timeshare to the management company.
Thanks for your thoughts. No question the quitclaim deed is legal, but that's not the issue, the question is what it conveys? My sense is that legally it only conveys rights, not obligations. If people could legally bind people to financial obligations without their knowledge, we'd all be in serious trouble! Think what people would do to their enemies! Buy a timeshare on eBay for $1 and then quitclaim it to their enemies. My preliminary research indicates that legally the only thing someone gives up in a quitclaim deed is their rights, not their liabilities or financial obligations. Even here it seems there's a two year statute of limitations where either a grantee or grantor can revoke or contest the quitclaim deed. Quitclaiming back to the management company doesn't work in many cases precisely for this reason, if they contest the quitclaim deed within two Hearst of learning about it, you're back to square one with the timeshare and you are still obligated to pay the annual fees (over $1,200 in this case). If they can contest a quitclaim deed back to them they haven't agreed to, then so can anyone saddled with an unwanted "gift" like this. Would love to hear from someone who has actually done this for details on how to do it. Thanks again!
It will be better if you could get in touch with a real estate attorney and discuss your situation with him.
Thanks will do. Looks like this is taken care of by filing something called a Notice of Non-Acceptance of Deed.
hi chris,
the option of notice of non-acceptance of deed is mainly available to the mortgage lenders in case a borrower voluntarily transfers the property for a deed in lieu of foreclosure. nevertheless, as suggested, you can get in touch with an attorney for help in this regard.
thanks
the option of notice of non-acceptance of deed is mainly available to the mortgage lenders in case a borrower voluntarily transfers the property for a deed in lieu of foreclosure. nevertheless, as suggested, you can get in touch with an attorney for help in this regard.
thanks