Adding or removing a co-owner of a timeshare, the gift of a timeshare or adding a timeshare to a trust are all changes in ownership that require a deed.

HUNTINGTON BEACH, CA, UNITED STATES, December 15, 2021 /EINPresswire.com/ -- Adding or removing a co-owner of a timeshare, the gift of a timeshare or adding a timeshare to a trust are all changes in ownership that require a deed. Fractional real properties located in Hawaii have several names. The most common name is “Hawaiian timeshare.” But the terms “Hawaiian interval” and “Hawaiian vacation plan” are also used. Change in a fractional ownership interest is by deed, recorded with the Bureau of Conveyances.

Deeds are either grant deeds or quitclaim deeds. A grant deed guarantees valid title and disclosure of debt. A quitclaim deed conveys real property “as is.” Either deed is appropriate to add or remove a co-owner of a timeshare, to gift a timeshare or to fund a timeshare into a trust. The deed must be recorded with the Bureau of Conveyances. The recorded deed is forwarded to the timeshare company to update their records of owners.

Persons who created a trust, must fund the trust to avoid probate. Trust funding is by a deed signed by the current owners that transfers their ownership to their trust. On death of the owners, a second deed transfers ownership out of the trust to a beneficiary of the trust.

In divorce, a deed removes one spouse as owner. The spouse not awarded the timeshare signs the deed. Removal a spouse is important because as long as both ex-spouses remain as owners, both have access to the timeshare and both are liable for the maintenance fees.

Deeds are also used to add friends or relatives as co-owners. Adding a new co-owner gives the new owner access to the timeshare. Adding new owners as joint tenants avoids probate on the death of a joint tenant owner.

Deeds are used to gift timeshares. A current owner no longer uses the timeshare, but continues to pay the annual maintenance fees. A win-win situation is to gift the timeshare to someone who will use the timeshare. The new owner has access and use to a timeshare in Hawaii. The prior owner is relieved of the obligation to pay maintenance fees.

A deed is prepared to add or remove a co-owner of a timeshare, to gift a timeshare or to fund a timeshare into a trust. The deed is recorded with the Bureau of Conveyances. The recorded deed is forwarded to the timeshare company to update their records of owners.

This press release is provided by Mark W. Bidwell. Mr. Bidwell markets through a website DeedAndRecord.com. Office is located at 4952 Warner Avenue, Suite 235, Huntington Beach, CA 92649. Phone is 714-846-2888.

Mark Bidwell
Mark W. Bidwell, A Law Corporation
+1 714-846-2888
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