Original Message:
Re: Transferring or adding adult children to timeshare deeds (by KC):
reneec59 wrote:I have a timeshare fix week. I am not with any special like Wyndham. How do I add an adult to my time share. My niece and I have talked about this. So she wants to be added. She understand the fees and everything. I want my name to stay on for usage, I just want hers added. How do I proceed. Do I just pay a transfer company and prepare a new deed?
Personally, I think it is likely a big mistake to "add" your niece to your existing deed. If you do so, you make her a equal co-owner. She would immediately (and forever) be "on the hook" (equally with you) for future maintenance fees, any imposed special assessments, etc. In my personal opinion, you would probably be wiser to leave the current deed alone and just leave the timeshare to her in your will, if that is your intent. More names on a deed creates new complexities for both parties, but that's your business. She may be interested in co-ownership now, but maybe not years from now. She can easily "disclaim" any inheritance later, but if her name is on the deed she cannot disclaim anything and she will be the new permanent owner upon your passing (whether she likes it or not at that future time), with no option to decline or deny ownership or the associated financial responsibilities --- permanently. Food for thought, to be sure...
Anyway, if you decide to add name(s) to the deed despite the above input, a new deed will have to be prepared and signed and officially recorded. I recommend LT Transfers (located in Georgia) to prepare and record a new deed for you. The whole exercise can be completed for about $200, including County deed recording fees. LT Transfers is a small business of a few very nice ladies who are competent and communicative and attentive to details. I've used LTT several times over the past 8 years or so and I will surely do so again in the future. You won't find anyone better (or less expensive). For the record, I have no affiliation with LT Transfers other than as a satisfied customer.