uDEED Blog

How to transfer your timeshare using a quitclaim deed or other deed

Timeshares are very much like regular properties. There are two distinct types of timeshare ownership. If your timeshare is a points based system, then you will not use a deed to transfer ownership as you will need to contact your timeshare company to work with them on how to transfer your points to add or remove a co- owner.

If your timeshare is based off a deed then following the same guidelines of adding someone to your deed will suffice.

Timeshare companies may charge you a transfer fee. This fee is in addition to any charges imposed by the state, county and city where the timeshare is located. It is good advice to contact your timeshare company before you prepare a deed to know all of the fees and expenses you will incur to perform this transaction.

Deed Types to consider using

The most common deed that people think of is a quitclaim deed. This deed is widely used to be a quick transfer of ownership or to add someone as a new co-owner of the property. Typically quitclaim deeds do not carry any special provisions and just deal with transferring ownership rights. Other deeds like warranty deeds do have provisions that convey certain rights or privileges that a quitclaim deed will not have. Some states will record a quitclaim deed but it will not be recognized later on by a title company as a valid transfer since it was not a warranty deed. It is important when looking to add someone to your property or deed that the correct deed is used to ensure no rights are lost in the process.

State & County Forms

Most states have some kind of form they require to be filed with a deed. In California, this form is called a Preliminary Change of Ownership Report or (PCOR). You can file your deed with the recorder’s office without one for an additional fee of usually $20 but know that they will still mail one back to you to complete. It is better to complete that form with the deed at time of recording to reduce any rejections or delays. Other states and counties have forms as well. San Francisco County, CA has it’s own county forms in addition to the state PCOR form for certain transactions.

Signing and Recording your deed

All deeds must be signed by all current owners that are transferring ownership in front of a Notary Public to be valid. Once the notary witnesses all owner’s signatures, the deed can then be submitted to the county recorder for review and recording.

Transfer Taxes

Be careful to make sure that by adding someone to your deed or property that you are aware of any transfer taxes that can be assessed for the transfer you are doing. Most states like California have a list of exemptions you can use to avoid this tax such as adding a relative to your deed. In a case like this you would need to list the exemption number and description on the deed itself as well as the PCOR form. Transfer rates change from time to time as well. It is a good idea to go to the county recorder’s website to obtain the current rates and understand the potential taxes of adding someone to the deed.

California, specifically properties located in Los Angeles County such as Santa Monica also assess a city transfer tax fee based upon any taxes that are assessed by the county recorder.

Before preparing a deed…

It is always a good practice to consult with a licensed attorney for the state where your property is located and being transferred in before adding anyone to your deed. Only an attorney can offer legal advice on vesting options such as joint tenancy or community property along with other legal advice related to the transfer you are seeking.