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    tdougherty101's Avatar
    tdougherty101 Posts: 2, Reputation: 1
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    #1

    Sep 11, 2007, 07:48 AM
    Quit claim deed
    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?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Sep 11, 2007, 07:58 AM
    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
    tdougherty101's Avatar
    tdougherty101 Posts: 2, Reputation: 1
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    #3

    Sep 11, 2007, 08:14 AM
    Quote Originally Posted by tdougherty101
    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.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #4

    Sep 11, 2007, 08:51 AM
    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.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #5

    Sep 11, 2007, 08:58 AM
    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
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