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Re: Re: Transferring Timeshare to a family member (by KC):

anno106 wrote:

My mother wants to transfer me her timeshare in NC. I am reading that I need an attorney or a real estate broker to "close " it. Is that correct or can I just file a Quit Claim Deed?

A broker is completely irrelevant in such a matter and using / paying an attorney is not necessary. A new deed with your mother as "grantor" and you as new "grantee" would need to be prepared and officially recorded and this is something that your mother would need to initiate as the current owner and "grantor-to-be". LT Transfers in GA could walk you through the entire process and handle the entire matter for under $300, including new deed preparation and payment of the requisite County recording fees and providing later formal notification to the resort of the permanent ownership change after the new deed gets officially recorded.

That being said, Lance makes some excellent and important points above. If you become the new "grantee" now, then you will become sole owner and you will thereafter be permanently responsible for annual maintenance fees. I am not offering you any family or legal advice here, but bear in mind that you could instead just leave the existing deed alone and pay your mother's maintenance fees for her if this is a matter of financial concern, and inherit the timeshare later ONLY if you CHOOSE to do so after your mother's passing. However, if you become the sole owner of record as the new "grantee" now, any such future choice and option will not exist. You will permanently become the owner of record and responsible for any and all future fees --- like it or not.

Food for thought and serious consideration before initiating a course of action with very permanent consequences.

P.S. Some above have made casual references to the "easy" nature of "quit claim" deeds. However, I will point out that if and when the current deed is already a Warranty Deed, in my opinion it is unwise (foolish, actually) to unnecessarily "downgrade" from a Warranty Deed to a quitclaim deed. In the event of future resale, a Warranty Deed can provide some confidence and credibility to a savvy potential buyer. It literally costs nothing more to prepare and record a Warranty Deed instead of a quit claim deed --- but this is only an option if the current deed is already a Warranty Deed.