Cheap way to transfer Florida timeshare?

[abdibile]

Hi,

I am buying two weeks in Orlando from someone I trust and I know the deeds are OK and nothing is owed on them.

So we would not want to spend a lot of money on an expensive closing company.

It should be possible to transfer a deed without the help of a closing company or a lawyer in Florida, right?

What do we have to be careful of when just copying the deeds and sending them to recording in Orange County?

We just send the notarized deed plus a check for the recording fees and a nice letter to the recorder's office, correct?

Are there any additional forms needed (like tax forms or whatever)?

Thanks a lot!

 

[AwayWeGo]

Quitclaim Deeds.

Hi,

I am buying two weeks in Orlando from someone I trust and I know the deeds are OK and nothing is owed on them.

So we would not want to spend a lot of money on an expensive closing company.

It should be possible to transfer a deed without the help of a closing company or a lawyer in Florida, right?

What do we have to be careful of when just copying the deeds and sending them to recording in Orange County?

We just send the notarized deed plus a check for the recording fees and a nice letter to the recorder's office, correct?

Are there any additional forms needed (like tax forms or whatever)?

Thanks a lot!

Because you know the seller's deeds are OK, you can just go with simple quitclaim deeds -- recordable documents stating that whatever claim the seller has on those units is hereby turned over to you for a consideration.

I know of 1 professional Florida timeshare closing services agency that will handle ownership transfer via quitclaim for $150 per deed.

For that, they prepare the documents, get notarized signatures, take care of getting the deeds recorded, & you're good to go.

That leaves to you the task of sending official copies of the new deeds, once they've been recorded, to the timeshare resort's business office (along with any required resort transfer fees) so they can take the old owner off the rolls & add your name to the ownership rolls. My Florida timeshare charges $75 for that. Other timeshares may charge the same. Or less. Or more. Or nothing. Call'm up & they'll tell you.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[dchilds]

We just send the notarized deed plus a check for the recording fees and a nice letter to the recorder's office, correct?

Are there any additional forms needed (like tax forms or whatever)?

Thanks a lot!

It is pretty easy, but there is a little bit more. Go to the orange county website, and there is a form you can download that needs to be filled out. The form tells you most of what you need to know, including the fees for recording based on the sale price and the number of pages they are recording. For the deed, it may be easiest to get a copy of the most recent deed, and change the names where appropriate. They don't need the nice letter. They will send back the recorded deed, which you can forward a copy to the resort along with the resort's transfer fee and anything else they think is necessary. Check with the resort on what they require, because although the county documents tell you to get the deed notarized, some resorts also require that the signing of the deed be witnessed, and no, the notary does not count as a witness.

 

[Talent312]

Because you know the seller's deeds are OK, you can just go with simple quitclaim deeds -- recordable documents stating that whatever claim the seller has on those units is hereby turned over to you for a consideration.

With all due respect, I can think of no reason why the buyer should forego the benefit of a warranty deed, simply because they "trust" the seller. A warranty deed contains representations that the buyer may rely upon for some recourse if it turns out that there is a cloud on the title that was unknown to the parties at the time.

If either party is able to copy the language of the seller's own deed exactly, changing only the names+addresses of the seller+buyer, respectively, they should be able to do this without hiring anyone. They need to be careful not to state anyone's SSN on the deed (even if a space is provided), and to include the parcel's tax-ID# and a "prepared by" name+address.

They'll need to have the seller and two witnesses sign the deed along with a Notary (who may be one of the witnesses). My bank provided a notary service which I used for this.

The Deed, along with the fees for recording and doc-stamp tax, need to be submitted, along with a stamped self-addressed envelope for return. If certified copies are desired, a request and fees for those need to be included. The former requirement to file Form DR-219 (Return for Transfers of Interest in Real Property) was repealed effective June 1st.

 

[AwayWeGo]

General Warranty Deeds Are Better -- Even If Not Always Necessary.

A warranty deed contains representations that the buyer may rely upon for some recourse if it turns out that there is a cloud on the title that was unknown to the parties at the time.

I was all set to insist on going with general warranty deeds when I was recently price shopping for closing services on proposed a timeshare swap that I had agreed to.

The closing services agency I went with offered to complete the swap via quitclaim for $150 per deed, which was OK with me only because the closing services professionals recommended it over costlier warranty deeds. No money was changing hands. There was no buyer & no seller, just a straight-ahead timeshare swap -- mine for the other person's & vice versa.

Previously, that same agency handled timeshare closing for us on a resale purchase via general warranty deed for about $200 more than they were getting ready to charge for the quitclaim-deed timeshare swap.

As it happened, the swap fell through. (So it goes.) So now title to all of my timeshares is still through general warranty deeds after all.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[BocaBum99]

Anyone recommending quit claim deeds to transfer a timeshare from one owner to another is clueless about Real Estate law and their opinions on that topic should be labelled as suspect.

The primary purpose of a quit claim deed is to quiet title so that there is no confusion over the ownership of a property. It is basically a declaration that "I no longer have any ownership in this property." Basically, I quit any claims I have on this property.

Using a quit claim deed to transfer title is like using a screw driver to hammer in a nail. It can be done, but a hammer would be a better tool to use.

A General Warranty deed is the best for the buyer as the seller warrants to the buyer that thereis clear title in the property during their ownership and during any of the prior owners.

A Special Warranty deed only warrants the clear title of the property during period under which the owner held the title.

 

[Denise L]

I used a company recommended on TUG for an inexpensive transfer. I received a warranty deed for a "free" timeshare that was given to me. TimeTravel Traders, www.timetraveltraders.com was very good. I paid $114, which included recording and transfer fees.

Let me know if you want more information. The transfer was done professionally and without a hitch.

 

[MaryH]

I had purchased my 2 NOLA weeks via quick claims done via Chateau Orleans for $300 rather than $1000+. The resort confirmed that both had no money due on them with the resort and all fees are current or are current by me paying for them as part of the deal on one. Did not have any trouble with either but I had talked extensively with the seller on both and they were only about 2500-3000 each so I was not extremely concerned.

 

[e.bram]

Cant you just photocopy the deed, make the grantee the grantor, make yourself thr grantee, change the dates and adjust anf page references?

 

[Dave H]

Boca and Talent are right...... Quit Claim Deeds only give you what I may own, might own or might have owned. It does not warrant that I am an owner...

I had a post on this a while back. BTW any closing company that is recommending a QCD over a WD is absolutly missing a few bolts..... Always protect the buyer with a warranty.

For those of you that think calling the resort makes the property free of any liens, you need to watch. They will not know if there are judgments recorded against the seller.

I had one that in a title search to issue title insurance had several state and federal liens against the owner that got recorded in the county the time share was in. They would have gotten their new purchase subject to the tax liens, yet the estoppel showed everything was just ducky and paid off.

Resorts Owner Management companies are not the 100% proof positive answer. And in some areas neither is the Recorders office.

 

[VacationPro]

I used a company recommended on TUG for an inexpensive transfer. I received a warranty deed for a "free" timeshare that was given to me. TimeTravel Traders, www.timetraveltraders.com was very good. I paid $114, which included recording and transfer fees.

Let me know if you want more information. The transfer was done professionally and without a hitch.

Denise---thanks this seems like a great resource. I will be transferring the deeds in my name to that of a trust, and this seems like a pretty cost effective way to do it