I own a deeded timeshare in Virginia free & clear. I want to give it back to the condo association to avoid being stuck with maintenance fees. Can I record my own quit claim deed, and does that release me from the liability? Or do they actually have to agree to accept the quit claim?

Hello t:

If they won't take it in exchange for what you owe, I don't think they want it. Plus, I'll bet your by-laws don't allow you to settle your debt this way. None that I've read do. However, yours might.

They'll probably sue you.

excon

i own a deeded timeshare in Virginia free & clear. I want to give it back to the condo association to avoid being stuck with maintenance fees. Can I record my own quit claim deed, and does that release me from the liability? Or do they actually have to agree to accept the quit claim?


What if I sign it over to my LLC? Wouldn't they have to sue it instead? It doesn't have any assets to go after.

Try reading your agreement, it should specify what the consequences of not paying your maintenance are.

Do they have a rental office? Maybe they can rent it for you. If its free and clear, you should be able to sell it to anyone who wants to assume the maint, even if you sell for $1.

Hello again, t:

Nahhhh. I would bet that before YOU are released from your obligation to the HOA, the new owner would have to join. That would be you, because they're going to require a personal guarantee from any corporate owner.

excon