Timeshare and Divorce: what can you do?
Divorce is an unpleasant event, even in the most amicable of circumstances. Assets are fought over and have to be agreed, and unfortunately, your timeshare and divorce is no different. In fact, it can be a real sticking point, as both parties realise the financial hit that will need to be taken in order to remove their timeshare from the equation.
There are some options to consider:
Firstly, if you can come to an agreement with one another, sharing the timeshare on a bilateral agreement may be a good option. Where permitted, you can work out between you which party gets to keep the timeshare.
Timeshare and Divorce: keeping the timeshare
If keeping the timeshare and sharing it between you seems like it may be worth considering, there are a few questions you should raise:
- Who will pay the annual timeshare maintenance fees?
- Who will get to use the timeshare, and when?
There is the possibility that you may be able to share the timeshare on alternate years, taking it in turns to use it and paying the fees on those alternate years. You may also share any loan payments that may be part of your timeshare. Though, clearly, this is not the ideal option, it does at least mean that you both get the benefit of the timeshare, as well as the children.
Timeshare and Divorce: dissolving the timeshare asset
Nonetheless, it’s most often the case that divorcing couples would prefer to dissolve the timeshare altogether. The first port of call is to contact the resort. Sometimes, the resort may permit you to petition the resort for an exit to the timeshare liability on the basis of the divorce, but it is not guaranteed that this will be accepted. If not, this can become a problem, as it will affect the process of liquidation of assets that may be part of the divorce.
It is in this instance that you should contact a reputable timeshare lawyer, who will help you through the next stage of the process. The timeshare lawyer will probably challenge the resort, and work through the legal matters involved with helping you see the back of that timeshare for good.
Continuing to try and exit the timeshare alone can be both time consuming and painful, especially when in the midst of such a devastating personal situation. When you engage a timeshare lawyer, you will find a weight lifted from your shoulders, as they will manage all the complex processes involved, which will alleviate some of the stress of the divorce itself.
Talk to Timeshare.Lawyer
Get in touch with our experienced personnel, who will connect you with an expert, qualified timeshare lawyer to help you through this difficult time. After all, the sooner you can say goodbye to your timeshare, the quicker you can work through this, and finally come out the other side, with a bright, new future ahead of you.