Deeds prepared to remove former spouse as timeshare owner.
Irvine, California (PRWEB) February 18, 2014
A Hawaiian timeshare awarded to one spouse in a divorce must have the non-owning spouse removed as owner. Removal is a two-step process; documents are first filed with the State of Hawaii and then with the resort management company. This two-step process is explained in this tip sheet by Mark W. Bidwell.
Until one spouse is removed from title, both spouses will have access and use of the timeshare even after separation or divorce. Both are also responsible for the maintenance fees and property taxes. Until the former spouse is removed from title, the owning spouse cannot sell or transfer the timeshare and the former spouse will inherit the timeshare in the event of death.
Maintaining an accurate, timely and permanent record system of timeshare ownership is the responsibility of the State of Hawaii Bureau of Conveyances. Ownership change is by deed. A deed is an 8 ½ by 11 inch document.
The contents and format of the deed are strictly mandated by Hawaiian law. Any deviations can cause the deed to become invalid.
For instance, no wording may appear on the top three inches of the first page. On the first page the tax map key, internal control number and reference to the prior recorded document must appear. In the document, the legal description must also be provided.
In Hawaii a deed must have attached to it Form P-64B, ‘Exemption from Conveyance Tax.’ Hawaii collects a transfer tax on all filings or recordings with the Bureau of Conveyances. But there are exclusions. Transfers due to divorce and dissolution of marriage are exempt from transfer tax. To obtain the exclusion, either the Grantor or the Grantee completes Form P-64B, ‘Exemption from Conveyance Tax’ and submits the form with the quit claim deed.
Once the quit claim deed has been recorded with the Bureau of Conveyances, it is returned by the Bureau with proof of recording. The owner must then provide the recorded deed to the resort management company in order to update the account records for reservations, accounting and billing. The resort management company may have its own forms to complete and may also charge a fee to update their records.
Deed and Record is an online service to prepare quit claim deeds for real property transfers into or out of trusts, remove former spouses and gifting. Deed and Record does not offer legal advice or services.
Deed and Record markets through websites, primarily, DeedAndRecord.com. The owner of the websites is Mark W. Bidwell, Attorney at Law and CPA Inactive. Office is located at 18831 Von Karman Avenue, Suite 270, Irvine, California 92612. Phone number is 949-474-0961. Email is Mark(at)DeedandRecord(dot)com.