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How does signing a deed for a timeshare release one of anymore resposibility?

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romanklan Joined: 03 Apr 2009 Posts: 2 1.97 Dollars($)	Posted: Fri Apr 03, 2009 12:54 pm    Post subject: How does signing a deed for a timeshare release one of anymo Like 0 Dislike 0 My husband and I own a timeshare in orlando, florida. For the last few months we have not been able to make the monthly payments, including the mortgage(due since this past January). The resort has contacted us and told us we could sign a deed that (allegedly) releases us from all responsibility from all of it. Why would they want to do that? Is this absolutely true? I am extremely sceptical. Can you help me?
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Sat Apr 04, 2009 10:09 pm    Post subject: Like 0 Dislike 0 Hi romanklan, Signing a quitclaim deed will only help you in transferring the ownership of the property to the resort authorities. They will have to assume the mortgage or refinance it in order to release you from the mortgage liabilities. _________________ Procrastination is the enemy of your financial success

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