Colorado Quitclaim Deed to Remove Multiple Owners
A Colorado Quitclaim Deed form deed can be used to remove multiple owners from a Colorado timeshare title. For example, let's say that four individuals are all in title to the same Colorado timeshare, and three of the individuals want to give the timeshare to the fourth. In this example, all three individuals who want off title would execute separate, Colorado Quitclaim deeds to the fourth individual.
Changing the example a little, let's say all four owners wanted to transfer ownership to a fifth individual. In this example, all four owners would execute separate, Colorado Quitclaim deeds in favor of the fifth individual -- the new owner. There is no need to have a single, Colorado quitclaim deed making the transfer.
Special Colorado Quitclaim Deed Cases
Where transfers by a Colorado Quitclaim deed form can get tricky is if there is more than one new owner or more than one remaining owner. Most Colorado quitclaim deed forms are attempting to transfer the entire interest in the property not just the interest of the one owner/grantor. That's is why you may see Colorado Quitclaim deeds with the language "Grantor hereby conveys to Grantee an undivided 1/4th interest in the following property to Grantee" in the case of 4 owners. The "undivided XX interest" changes according to how many people currently own the property, assuming that is what they actually own. The exact fraction of ownership is based upon what the original deed gave to each owner.
While a Colorado Quitclaim deed form may be technically incorrect for transfers of real property to a single, new owner from multiple, former owners, it works because all the old owners are deeding the entire interest in the Colorado real property to a single new owner. If the example is changed a little, problems occur. Let's say one of four Colorado timeshare owners wants to transfer his interest to a new, fourth owner. Using a one person to one person Colorado Quitclaim deed form can be a problem if the form does not specify a transfer of an undivided 1/4th interest, and that is assuming the person making the transfer owns an undivided 1/4th interest.
Seeking Legal Advice
Transfers to/from multiple owners by a Colorado Quitclaim Deed form can be tricky. If you have any doubt, it is wise to pay a lawyer to do it right AND get title insurance.