selling to a friend

I want to transfer title to a friend for my time share in the cheapest way possible. Wyndham says there is a $100 fee and that I need a quick claim deed. The it has to be recorded in the county where the property is located. Anyone used services on line? I have original deed and paid off letter. If I need to use an escrow company I'd like recommendations.

Are there funds exchanging hands in the transfer between you and your friend? If not, a simple quit claim deed will do. You send the transfer information to the county's deed dept. (where the timeshare is located) with a copy to the resort along with the $100 transfer fee. If funds are not changing hands, you really don't need an escrow company involved.

She has already paid me since we are friends and I needed the money. Where can I find a quit claim deed? I've seen ads for legalzoom.com but I guess a form is a form and just get it notarized and send it in. Right?

jayjay wrote:

Are there funds exchanging hands in the transfer between you and your friend? If not, a simple quit claim deed will do. You send the transfer information to the county's deed dept. (where the timeshare is located) with a copy to the resort along with the $100 transfer fee. If funds are not changing hands, you really don't need an escrow company involved.

If you will google 'quit claim deeds' they give instructions on the procedure and sample deeds.

bhass913 wrote:

I want to transfer title to a friend for my time share in the cheapest way possible. Wyndham says there is a $100 fee and that I need a quick claim deed. The it has to be recorded in the county where the property is located. Anyone used services on line? I have original deed and paid off letter. If I need to use an escrow company I'd like recommendations.

We are in the process of letting our timeshare go for the cheap price of $3000. This is the amount that it will cost us to get out of the contract with Mayan Palace. They sent us a document that needs to be filled out, notarized and sent to them with the fee. That will be all we have to do (according to their legal department. ) What is your agency telling you has to be done? Moorez

capri1 wrote:

We are in the process of letting our timeshare go for the cheap price of $3000. This is the amount that it will cost us to get out of the contract with Mayan Palace. They sent us a document that needs to be filled out, notarized and sent to them with the fee. That will be all we have to do (according to their legal department. ) What is your agency telling you has to be done? Moorez

bhass is merely wanting to transfer title to her whyndam timeshare to a friend vai a quit claim deed. You're speaking of giving a Mexican timeshare back to a resort for a $3000 fee ... two completely different scenarios.

okay thanks. i have since found out that the Mexico fee is the only ones i need to pay. thanks moorez

A friend is wishing to purchase our timeshare for money. It will be at a reduced price. The TimeShare is paid for. How do we proceed, if we wish to do this process ourselves? Thanks Gm

gregm436 wrote:

A friend is wishing to purchase our timeshare for money. It will be at a reduced price. The TimeShare is paid for. How do we proceed, if we wish to do this process ourselves? Thanks Gm

I suggest contacting LT Transfers (LTTransfers.com) to handle all details (preparation and recording of a new deed, payment of recording fees and "document stamps", notification to the resort after the new deed is recorded (they will provide the resort with a copy of the newly recorded deed). It's a small business, located in Georgia, nice folks, good communications --- and the best price to be found anywhere for competent closing services (most likely under $200 in total cost). For the record, I have no affiliation with LTT other than as a repeat customer who has used them in multiple transactions over the years, as both buyer and seller. I will use them again in the future for any timeshare transactions.

Keep in mind that your resort might also impose a "transfer fee". Most do. It would be wise to find out (from the resort) what that fee amount is; it would also be prudent to reach advance agreement with your buyer as to which one of you will pay it. Btw, if there is a transfer fee, it is NOT included in the LTT (or in any other closing entity) fees. For example, Wyndham currently charges $200, Hyatt charges $700, smaller independent resorts generally charge $100 or less; some don't charge anything. Where imposed, a "transfer fee" is an unavoidable cost, although it's really just a money grab charge for the 30-45 seconds it takes to make a name and address change in their owner database after a new deed is recorded. Transfer fees are "legal larceny" in my opinion, but completely unavoidable when / where imposed.

You can tackle the deed work yourself, but in my opinion that would be "penny wise and pound foolish". You would need to prepare a new deed yourself, in proper format, pay deed recording fees to the appropriate county --- and if you screw up in any details on the deed (the county does NOT review or check what you submit before recording it), it will take unnecessary and avoidable effort, time and money later to rectify errors of your own creation. Leave it to the pros.

Hope this helps you. Good luck.