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Sadly, about 20 years ago my husband signed a quit claim deed…

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Sadly, about 20 years ago...
Sadly, about 20 years ago my husband signed a quit claim deed for a Christie Lodge timeshare. The document is worded exactly as was worded in a question you answered 3 years ago regarding "A timeshare interest consisting of an estate for years terminating on December 21, 2022". I was encouraged by your answer that the seller cannot unilaterally extend ownership past that date, however, our document goes on to read, "Ownership becomes tenancy in common in the the year 2022. It remains in this form until you will it to your heirs or transfer your deed." Does this mean we are FREE of the obligation to pay maintenance fees or that we go to our grave paying fees?
Submitted: 3 years ago.Category: Real Estate Law
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Answered in 12 minutes by:
6/24/2015
Real Estate Lawyer: Barrister, Lawyer replied 3 years ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 43,062
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified
Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.
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If this was a purchase of the timeshare, then it unfortunately is yours forever unless you can talk someone into buying it from you or deeding it over to someone else, even for free.
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If the timeshare contract states that it becomes a tenancy in common after a certain amount of time, then that means that the ownership of everyone on the deed continues after their death and would transfer to their heirs. If it was a "joint tenancy" designation, then as each co-owner passes, their interest would extinguish and eventually there would be only one owner.
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So basically you are stuck with the fees until the timeshare ownership passes or is transferred to someone else.
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I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...
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thanks
Barrister
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Customer reply replied 3 years ago
It does indeed read, "tenancy in common". You state that in this case, ownership continues after our death and "would transfer to their heirs". Does this mean if my husband and I die today, our 20 year-old daughter must pay maintenance fees until she dies?
Also, my husband made me a co-owner without my knowledge or consent. Didn't I need to sign something?
Customer reply replied 3 years ago
The timeshare is NOT in our Will. Will our daughter "inherit" the burden of the timeshare if the timeshare is not included in our will?
Real Estate Lawyer: Barrister, Lawyer replied 3 years ago
""Does this mean if my husband and I die today, our 20 year-old daughter must pay maintenance fees until she dies? Will our daughter "inherit" the burden of the timeshare if the timeshare is not included in our will?""
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It means that if she accepted the "gift" then it would transfer into her name and become her property. Then she would owe the fees indefinitely.
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But if she rejected the gift if the executor offered it, then she wouldn't be obligated to pay anything. Only the actual owner of it is obligated to pay.
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So you might want to consider doing something like noting in your will that you are donating it to the city or leaving it to someone you don't really like because if they accept it and ownership transfers, then they are then on the hook for it from then on.
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""Also, my husband made me a co-owner without my knowledge or consent. Didn't I need to sign something?""
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Legally anything that is purchased during the marriage is considered marital property and equally owned by both parties.
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thanks
Barrister
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