-- Answers to Questions About Real Estate Law
Money and real estate news you can use everyday

Real Estate Lawyer
Question of the Week
Tip of the Week
Recommended Books
Contact Sam

Gifting Real Estate Requires Two Willing Parties


Ask the Real Estate Lawyer: Real Estate Law Q&A

By Ilyce R. Glink and Samuel J. Tamkin

Summary: What if somebody gave you some property but never told you where it was? Can they gift property to you without your consent? Read this article by Ilyce Glink and Samuel Tamkin to find out.

Q. My husband's ex-wife quitclaimed a timeshare property to me. How can I go about finding out where it is and whether she needed my permission to do that?
(article continues below useful links)

A. Letís get this straight. Your current husband had a wife and she decided out of the goodness of her heart to give you title to a timeshare property she owned. And she did all this without telling you about it or even where the property was located.

While there could be some sort of mistake, it appears that your husbandís ex-wife is trying to get rid of something that not only she couldnít get rid of but has costs associated with it.

If you and your husband donít know where the property is, itís going to be nearly impossible to find out what property she gave you without asking her. If you canít ask her, you may never find out until you get a letter from the management company for the timeshare property requesting money.

Of course since you did not buy the property and never acknowledged the transfer its unlikely that the timeshare property could collect anything from you. For the transfer of the timeshare property to occur as a gift you have to have a willing giver and a willing taker. If you were not a willing recipient of the gift, you can decline it.

On the other hand, if you do want the property, you will have to pay all fees and expenses from the date of the transfer along with all future fees and expenses. As for any approvals that may have been required, many timeshare properties can and are sold and resold. Frequently however, the management company handling the timeshare development may need to receive notice of the transfer and in some cases must approve the transfer.

If your husbandís ex-wife signed any documents to transfer the timeshare to you and needed your signature to any document for the transfer, failed to disclose the transfer to the management company for the timeshare property or failed to abide by any other rule relating to the transfer of the timeshare property, the transfer may not be legal. Furthermore, if she forged your signature on a document to make the transfer you can report the fraud to both the timeshare management company and the authorities and begin proceedings to void the transfer to you.

Samuel J. Tamkin is a Chicago-based real estate attorney. Ilyce R. Glinkís latest book is The REAL U Guide to Bank Accounts and Credit Cards. This column is distributed by Real Estate Matters Syndicate. This column may not be resold, reprinted, resyndicated or redistributed without written permission from the publisher. If you have questions for Sam and Ilyce, write:Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact them through Ilyceís website




RSS Feeds

RSS 0.91 Feed
RSS 1.0 Feed
RSS 2.0 Feed

Home Buying   Using Attorneys to Buy a Home - Earnest Money - Quitclaim Deeds - Easements - Seller Misreprensation - New Construction - Buying with Partners - Home Inspections - Seller Problems - Agent Issues
Home Selling    Using Attorneys to Sell a Home - Seller Disclosure laws - Title Problems - Buyer Problems - Real Estate Agent Issues - Tax Considerations
Home Ownership   Neighbor Problems - Seller Misrepresentation And Fraud Issues - Problems In a Condominium Development - Problems Around The House - New Construction Issues - Subdividing Land
Home Renovation   Architect Issues - Contractor Issues - Problems With Contractors - Inspection Issues - Certificate Of Occupancy - Municipal Inspections - Punch List Issues - Financing Issues - Installment Contracts
Real Estate  
Loan Application Problems - Refinancing Issues - Paying Off An Old Loan - Credit Problems - Seller Recommended Lender - Prepaying A Loan - Prepayment Penalties - Predatory Lenders
1031 Exchanges - Financing Investment Properties - Landlord and Tenant Issues - Partnership and Company Considerations - Tax Considerations - Subdividing Land
Contact Us | Sitemap | Terms of Use | Copyright ©2001-2005. ThinkGlink Inc. All rights reserved.
Reproduction of material from any pages without written permission is strictly prohibited.
Site design by Walker Sands Communications