Tip Sheet by Deed and Record on how to change or transfer ownership of timeshares located in California, Florida, Hawaii and Nevada. Change of ownership is needed to add or remove a spouse, to fund trusts and to gift.
HUNTINGTON BEACH, CA, January 09, 2020 /24-7PressRelease/ — This Tip Sheet by Deed and Record provides a brief overview of ownership change for timeshares located in California, Florida, Hawaii and Nevada. Change in owners is needed to add or remove a spouse as an owner, to make a trust the owner or to give away a timeshare.
To replace a current owner of a timeshare with a new owner two events must happen. The first event is to prepare a deed, sign the deed and record the deed. Recording the deed notifies the general public who is the owner of the timeshare. The second event is to provide a copy of the recorded deed to the timeshare company. Copying the timeshare company informs them of a change in ownership.
A deed is a paper document signed by the current owner that transfers ownership in real property to another person. The owner either “grants” or “quit claims” ownership. “Grant” has implied warranties of valid ownership and disclosure of loans and liens on the real property. “Quit claim” is the equivalent of “as is.” A quit claim does not promise valid ownership and does not provide disclosure of loans or liens outstanding.
California, Hawaii and Nevada require the owner’s signature on the deed acknowledged by a notary. Florida in addition to the acknowledgement, requires the owner’s signature witnessed by two individuals. After the deed is prepared and the signature acknowledged the deed is recorded.
In Florida, deeds are recorded by county with the county’s courthouse. In California and Nevada deeds are recorded by county with the government entity referred to as the “recorder” that is tasked with the duty to maintain the database of real property owners. In Hawaii deeds are not recorded by county but with a statewide government agency called the “Bureau of Conveyances.”
After the deed and been prepared and recorded, a copy of the recorded deed must be provided to the timeshare company to update their records of ownership. Timeshare companies may have additional documentation requirements, depending on the company. These companies also require a fee to update their records. Fees vary from $25 to $500.
This Tip Sheet explains; how to change owners of a timeshare. Change in owners is needed to add or remove a spouse as an owner, to make a trust the owner or to gift a timeshare. States covered in this Tip Sheet are California, Florida, Hawaii and Nevada.
This press release is provided by Mark W. Bidwell, an attorney in California. Office is at 4952 Warner Avenue, Suite 235, Huntington Beach, California 92649. Phone number is 714-846-2888. Mr. Bidwell markets through a website DeedandRecord.com.
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