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 valatrell
Joined: 31 Dec 2008
Posts: 1
1.35 Dollars($)
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 Posted: Wed Dec 31, 2008 12:31 pm Post subject: Quit claim on paid-for property |
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| If I signed a Quitclaim Deed for a PAID-FOR time-share, had it notarized and given to (soon-to-be-ex) spouse, but spouse neglected to pay maintenanc fees, can I be garnished for back fees, or have my credit rating affected by this? According to the company handling these maintenance fees, they have "forclosed" and my name is still attached. I did not realize maintenance fees could be "foreclosed." |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7446
Location: bloomfield, ct
69.97 Dollars($)
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| Posted: Wed Dec 31, 2008 12:52 pm Post subject: |
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yes, indeed, part of your ownership of a time-share concerns payment of maintenance fees on a regular basis. failure to comply with the terms of ownership can result in foreclosure. apparently the time-share company is unaware of your transfer of ownership.
it would be advisable to contact them and make them aware of the situation. but of course, if you were still an owner at the time of the non-payment, you're liable for those payments.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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V A
Guest
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| Posted: Wed Dec 31, 2008 4:35 pm Post subject: Quitclaim ownership |
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| So, signing a Quitclaim Deed does not change my ownership status? I'm confused. |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Wed Dec 31, 2008 7:41 pm Post subject: |
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Hi V A!
Welcome to forums!
Have you solely given away the property to your soon to be ex-spouse or are both of you joint owners of the property? If you are a joint owner of the property, then you will be liable for the payments. If your soon to be ex-spouse is the sole owner of the property, then you will not have to pay the dues. In that case, you should inform the timeshare company about that as George has suggested.
Feel free to ask if you have further queries.
Sussane |
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