Florida is one of the most popular vacation destinations, making it the most popular states for vacation properties, and with that comes a high volume of timeshare ownership. While timeshares offer flexibility and affordability, they can also create legal complexities – especially when transferring ownership. One of the most common tools used to transfer interest in a timeshare is a quitclaim deed, but is it always the right choice? And should you try to go it alone or involve an attorney? Let’s take a closer look.
What is a Quitclaim Deed?
A quitclaim deed is a legal document that allows a person to transfer their ownership interest in a property to another without making any promises or warranties about the title. Unlike warranty deeds, quitclaim deeds do not guarantee that the title is clear of liens or encumbrances – they simply transfer whatever interest the grantor may have.
Why Use a Quitclaim Deed for a Timeshare?
Timeshares are often transferred between family members, ex-spouses, friends, or even sold in informal transactions. Because the ownership interest is typically limited to a certain number of days or weeks per year, quitclaim deeds are a quick and cost-effective method for transferring timeshare rights where a warranty deed might not be necessary.
Quitclaim deeds are often used in transactions such as:
- Adding or removing a spouse after marriage or divorce;
- Gifting of the timeshare to a child or relative;
- Resolving ownership disputes among co-workers; and
- Transferring ownership into a trust or business entity.
The Risks of DIY Quitclaim Deeds
While the simplicity of a quitclaim deed is appealing, it comes with significant risks – especially in the context of Florida’s real estate laws and complex timeshare regulations. Filing an inaccurate or incomplete quitclaim deed can lead to, among other things,:
- Clouded Title: If the deed is not properly executed or recorded, future sales or transferred can be delayed or denied.
- Rejection by Timeshare Companies: Many resort developers have specific procedures for ownership changes, and improperly filed deeds may not be recognized.
- Title Insurance: Due to the lack of warranty of title, property interest held by quitclaim deeds are often unable to be used to obtain title insurance.
Why Should You Use a Florida Real Estate Attorney?
Using a licensed Florida attorney ensures that your quitclaim deed is executed correctly, complies with state laws, and aligns with any other specific requirements that you need. An attorney can:
- Prepare and review the deed to ensure legal accuracy;
- Record the deed with the appropriate county clerk;
- Advise you on any additional legal considerations; and
- As attorneys have malpractice insurance, you have an option for recourse if there is a mistake.
Don’t Risk Your Investment
Whether you’re transferring a timeshare to a family member or resolving a co-ownership situation, working with an experienced Florida real estate attorney protects your interests and gives you peace of mind. At Korshak & Associates, P.A., we’ve helped countless clients navigate the complexities of timeshare transfers with confidence and clarity for over 40 years.
Contact us today to schedule a consultation and ensure your timeshare quitclaim deed is done right the first time.
