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Hello, I'm John and I am happy to help. If I am away, I am working with another customer or researching your answer. they cannot hold you responsible unless you agree to be held responsible.
this situation is common with time shares. Even when the past due fees are discharged in bankruptcy, ownership still remains in her name and, therefore, fees continue to accrue.
Does this make sense?
Yes, we were aware that she was going to continue to accrue late fees on the maintenance. As I mentioned getting caught up on the fees or even keeping the timeshare is not an option for her. My concern is if they can ever "come after" me for any portion of this. Like I said I was never associated on any paperwork with this timeshare but, my mother is linked to my current deed on my residential property.
Is there anyway they can try and collect these fees from me in case of her death and I keep my home? I'm just worried they may come after me in the long run.
No, they cannot come after you for an obligation of your mother's.
They can, however, file a claim against her estate upon her death.
Indirectly, if you are the beneficiary of your mother's estate, her obligations to the time share will be deducted from the estate before the proceeds are distributed.
Thanks John, I had a feeling it was part of their collection efforts but I just wanted to check. So, it sounds like if they file a claim against her estate I would be required to pay that debt when I sold my home (since it would include portion of her estate). How does that work, would they make me pay it upon her death or when I actually sold the house that is in both of our names?
If she hold the deed to your home, you are correct.
It could impact this property since it belongs to her. It would be in your best interest if you could get her to deed the property to you no.
I am going to take a lunch break and will be back to answer follow up questions.
I will advise her. We had put her on my deed to make it more accessible in case something happened to me. It sounds like it would behoove us to remove her from the deed and just incorporate the transfer to her in my will.
Is removing her from the deed fairly easy to do. I wonder if a stationary store has the paperwork that I can fill out and then just file it. Who do I file it with? Do I need an attorney to draw it up? I don't remember the details of how she got on it. I think they did it during a refinance or something.
I should clarify we do hold a mortgage on the current house. It has not been paid off yet. I pay the mortgage but since my mother lives with me I had her added to it. What do you suggest to get this squared away so we don't have any future problems?
Yes, it sound like you would want to remove her from the deed.
Removing her from the deed involves a simple quitclaim deed. Is she on the mortgage as well?
No, you can obtain a simple quitclaim deed and have a title company help you out. It is a very simple process. If she is also on a mortgage, there are other things to consider.
Ooops, I just saw you last post...
There is a mortgage.
If the mortage company will allow you to remove her that would be the best thing to do.
If they will not, you will need to refinance it into your own name and do a quitclaim deed (her to you), in conjunction with the refinance.
Does this makesense?
John, thanks for the info. Mom is not on the actual mortgage but is on the 'deed'. We have a local title company that can handle the removal paperwork for about $75. We will take care of it. Too bad life has to come to these things. Thanks for your help. Great website to have as a quick option.
Sorry, didn't mean to say zo.
Was getting ready to write something else.
It has been a pleasure working with you.
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