For a valid
real estate deed conveyance, two key actions must occur:
- The giver (called the grantor) must deliver it the recipient (called the grantee).
- The grantee must accept it.
Recipient May Refuse to Accept a Deed.
are not always right for taking on new ownership and new responsibilities.
Moreover, not every piece of real property is desirable. Even with a
significant estimated value, it might have hidden liabilities.
gift of a deed can, and sometimes should, be turned
This can get
difficult if the grantor has the conveyance recorded with the
county anyway, without the grantee’s knowledge. The grantee will then
be obliged to file a court petition to void the conveyance.
Continue reading “Refusing to Accept a Deed”
timeshare, multiple people can share the use of property—typically a hotel
suite or a resort condo.
is to enable everyone in a group to (collectively, but at different times)
enjoy a property for an annual getaway—without having to buy real estate at a
place they only plan to visit now and then.
purchase their specific annual time periods, and share ongoing expenses for the
property. These expenses include property management, landscaping and
maintenance costs, and various taxes and fees.
Timeshares Are Inheritable, But Unwanted
timeshare may be structured as a shared lease, a “right to use” for a certain
period of years, or a deeded ownership.
A leased or
“right to use” timeshare does not outlive its owners. A deed does. Deeded
ownership in a timeshare is transferable, and the interest is usually owned in
To be part
of a shared, deeded ownership means having a part of real property itself—an
interest in the unit and some of its common areas. Other deed owners will also
own an interest in the same property.
deeds can be inherited, not everyone wants to inherit a timeshare. This is
Continue reading “Disclaiming an Interest in an Inherited Timeshare”