Timeshare Nightmare

What is the name of your state? California
Here is my situation:

My sister purchased two timeshares in 1985. Somehow, my name was added to the titles/deeds in 1992 without my consent. (I believe my signature was forged and I just found out my name was on the deeds two weeks ago!) She passed away in 1997 and her widow has been paying the maint. fees all of these years. He now wants to sell the timeshares and was in the process of doing so when he was informed by the title company that he needed a "lost instrument bond" in order to sell them. The original deed of trust has my sisters name listed on it solely, but the current Deed has my name and her widows name on it. He can no longer afford the maint. dues since they have gone up to 900. a year and asked the company to take back the timeshares and they have stated that they will for a $400.00 fee for each one along with us paying the "lost instrument bond" fee. (It all totals up to a couple thousand dollars.) The other caveat to this is that the company that she purchased the timeshares from went out of business and it was acquired by another timeshare company who seems to believe that there is money still owed on the property but is unable to verify it since there are no longer any records listed, hence the need for the "lost instrument bond". I have ran a title check and there are no liens on the property.

Here are my questions:

If money is still owed on the property, how would I find out that information?
What rights do I have since I know I did not sign any papers for these timeshares?
How can someone add your name to a deed without your knowledge?
If we foreclose on the timeshares, will that affect my credit rating?
I also own my own home. Can they put a lien or something on my current property if the timeshare property goes into foreclosure?
Can I "quit deed" myself off of the property? (since I'm not on any mortgage papers)

Any help would be greatly appreciated!

[JETX]

"If money is still owed on the property, how would I find out that information?"
*** You can't. Your post only describes your name as being on the DEED and not on the note. As such, you have no right to information on the current note status.

"What rights do I have since I know I did not sign any papers for these timeshares?"
*** Presumably, you have the right of partial ownership.

"How can someone add your name to a deed without your knowledge?"
*** It could be done by filing a 'quit claim' deed with the county recorder or clerk.

"If we foreclose on the timeshares, will that affect my credit rating?"
*** Confusing. Why would YOU foreclose on your own property?? And since you aren't the lender/mortgagor, what right do you have to foreclose??
Actually, if your name is NOT on the note (as you claim), a foreclosure should have no effect on you at all.

"I also own my own home. Can they put a lien or something on my current property if the timeshare property goes into foreclosure?"
*** Who is 'they'?? See above as to your having NO obligation on the note.

"Can I "quit deed" myself off of the property? (since I'm not on any mortgage papers)"
*** Of course you can. But why would you since no obligation goes with the title.

Personally, I think you are confused as to the differences between title and lender obligation.

[HomeGuru]

[quote=JETX]
Personally, I think you are confused as to the differences between title and lender obligation.

**A: personally, I agree.

[Happy Trails]

Originally Posted by JETX

"If money is still owed on the property, how would I find out that information?"
*** You can't. Your post only describes your name as being on the DEED and not on the note. As such, you have no right to information on the current note status.

"What rights do I have since I know I did not sign any papers for these timeshares?"
*** Presumably, you have the right of partial ownership.

"How can someone add your name to a deed without your knowledge?"
*** It could be done by filing a 'quit claim' deed with the county recorder or clerk.

"If we foreclose on the timeshares, will that affect my credit rating?"
*** Confusing. Why would YOU foreclose on your own property?? And since you aren't the lender/mortgagor, what right do you have to foreclose??
Actually, if your name is NOT on the note (as you claim), a foreclosure should have no effect on you at all.

"I also own my own home. Can they put a lien or something on my current property if the timeshare property goes into foreclosure?"
*** Who is 'they'?? See above as to your having NO obligation on the note.

"Can I "quit deed" myself off of the property? (since I'm not on any mortgage papers)"
*** Of course you can. But why would you since no obligation goes with the title.

Personally, I think you are confused as to the differences between title and lender obligation.

***I think you clarified it beautifully.

Thank you all for your quick and prompt responses. I'll try to clarify this a little better. I am on the Title, but am not on the mortgage. (We believe it was paid off.) We want to get the timeshares out of our names and no longer cover the cost of the maint. dues. since we did not purchase the timeshares to begin with. Please explain the difference between Title and Lender obligations. Thank you.

[Happy Trails]

The names on the title state ownership.

Re-read "jetx" post.

It sounds like the only financial responsibity you have would be for the annual maintenance fees.

If you don't want them, sell the timeshare.

Unfortunately, the only way to sell the timeshares is to purchase the "lost instrument bonds" which are pricey.

[JETX]

Then simply stop paying. If there is no statutory or contractual obligation for you to pay, then there should be no repercussions.
BTW, my timeshare costs me $600 per year and I would be glad to sell it for a very low price.

[HomeGuru]

How much is a very low price?

[JETX]

Originally Posted by HomeGuru

How much is a very low price?

Email sent with particulars.

[HomeGuru]

Thanks for the particulars.

[JETX]

Originally Posted by HomeGuru

Thanks for the particulars.

Reminds me of Dolly Parton's husbands favorite song....
"Thanks for the mammaries".

[HomeGuru]

That's the breast joke I heard all morning.