Check out some similar questions!

lrkent · Mar 30, 2007, 09:45 AM

I a friend of mine has time share property and was intending to sell to his ex-fiancee's daughter who was planning to take over the loan. What happen was the daughter claim to have done a quick deed and was to assume the loan. However, she has not assume the loan but claim to have done a quick deed. He is still paying the loan but is questioning does he still own the property. What is exactly a quick deed or quit deed? He lives in Richmond, Virginia and does not remember signing any paperwork. What should he do in getting a copy of such an item or what are the necessary steps for follow-up regarding. Thanks

giJ · Apr 1, 2007, 05:15 PM

The term is "quit claim" deed, not "quick deed".

And the owner of the house is the one who "does" it, not the buyer.

And most loans are not assumable; they have a "due on sale" clause, which includes quit claim deeds.

Therefore, your friend probably still owns the property. However, to be sure, he can look the information up in the county tax records. In Northern Virginia, this information is available online for free, but I am not sure about Richmond.

ScottGem · Apr 1, 2007, 05:58 PM

If this is a time share property then there is no deed yet. Time share properties may or may not be deeded. If they are deeded, the property is generally not put into the buyer's name until the loan is paid off. On the other hand, such loans are often assumable.

Your friend needs to contact the resort operators to find out the status of the share.

Fr_Chuck · Apr 1, 2007, 06:02 PM

It is real easy, contact the time share and ask them, check with the daughter and let her provide a copy of the paper work,

lrkent · Apr 3, 2007, 07:23 AM

Thanks, Gij, Scott and Chuck for your advice. I will be contacting the county, as well as asking for a copy of her quit deed she claim to have filed. I mentioned to my friend he was suppose to initiate the quit deed not her. He has no copies of anything and we are asking that she provide all copies what she claim to have. We also will be contacting the timeshare office to find out who's name is on the deed as well. I will also follow-up with the courthouse as well to see if anything had been file. I will follow up with you soon! Again thanks!