Posted on: 09th Feb, 2010 02:35 pm
i own a timeshare in daytona fl and it is paid for clear with maint and taxes for 2010 also paid. can i deed the timeshare back to the resort by using a quit claim deed? i understand i must have the deed signed and notorized in the county/state of the location and filed in the county. do i also need to provide a copy to the state? is there anything else i need to do to get rid of the timeshare? does the resort have to agree to take it back? what happens to me if i just stop paying maint and taxes since the timeshare is paid in full? will it affect my credit?
Hi gailwhite,
You can sign over the timeshare to the Resort through a quitclaim deed, provided they are ready to take it back. But since the timeshare is paid for, I don't think you'll have any problem in transferring the title back to the Resort. As long as you have the ownership of the timeshare, you'll have to pay for the maintenance and taxes. If you stop making these payments, it can affect your credit.
You can sign over the timeshare to the Resort through a quitclaim deed, provided they are ready to take it back. But since the timeshare is paid for, I don't think you'll have any problem in transferring the title back to the Resort. As long as you have the ownership of the timeshare, you'll have to pay for the maintenance and taxes. If you stop making these payments, it can affect your credit.