Selling timeshare after getting married

[Lint]

I have a question that I wonder if anyone else has come across. I bought into the Shell Vacations West point system (not a dedicated week resort) years ago before my marriage. The timeshare is is my name alone and paid for before we were married. Now I am in the process of transferring my points to a buyer for a nominal amount ($1). Would my husband need to sign something like a quit claim or does that not apply since this is a point based system and not actual real property? What my husband and I want to guard against is if the buyer stops paying his dues, we don't want to be on the hook because we didn't properly transfer our interest in the timeshare. I am tempted to add my husband to the ownership so that we can both sign our interest over to the new owner, but that might be overkill. Any thoughts would be greatly appreciated!

 

[glypnirsgirl]

You do not specify what state that you live in.

There are 13 community property states and the remaining states are separate property states.

If you live in one of the separate property states, the property is clearly your own.

If you live in one of the community property states (Texas, California, Wisconsin, Louisianna, Arizona, New Mexico, Idaho, Nevada and Washington are the ones that I recall --- maybe I remember the 13 incorrectly), the rules can vary.

Most, not all, of the community property states have an inception of title rule. If you owned the property when you married as your sole and separate property, it will maintain its status as your sole and separate property upon your marriage.

In general, the property does not belong to your husband. If you live in a community property state other than Texas (which I am familiar with), the answer to your question may be different.

 

[Lint]

If you live in one of the community property states (Texas, California, Wisconsin, Louisianna, Arizona, New Mexico, Idaho, Nevada and Washington are the ones that I recall --- maybe I remember the 13 incorrectly), the rules can vary .

Thanks so much for your input. Yes, we live in California so it's a community property state. I'm hoping that since I paid it off in full before getting married that qualifies it as my separate property.

 

[vacationtime1]

If it was free and clear as of the date of marriage, it is separate property. Unless you "invested" money during marriage, and the only way that would happen is if there had been a special assessment that was paid with community funds, you are fine. (Note: MF's don't count in this analysis, because the community received the benefit of that payment each year.)

 

[Beefnot]

As of the date of transfer, if the property is paid for and dues up to date, then any subsequent transfer of said property will have no residual liability with the seller. Similar to selling your house, you would have no liability if 3 years down the line they stopped paying property taxes. And what vacationtime1 wrote is correct.

 

[Lint]

Thanks!

Thanks everyone for your response to my posting. Very helpful indeed!